The Energy Report - Exclusive Articles Full Text

The Energy Report - Exclusive Articles Full Text https://www.theenergyreport.com/ Featuring investment coverage of fossil, renewable and alternative energies. Copyright 2011, Streetwise, Inc. Energy Co. Has Strong Flow Test in Uzbekistan https://www.streetwisereports.com/article/2026/04/10/energy-co-has-strong-flow-test-in-uzbekistan.html Source: <a href="https://www.streetwisereports.com/article/2026/04/10/energy-co-has-strong-flow-test-in-uzbekistan.html?utm_medium=feed">Stephane Foucaud 04/10/2026</a> Condor Energies Inc. (CDR:TSX.V) reported a strong flow test at the K-46 horizontal well in Uzbekistan, according to an Auctus Advisors research note.In a report dated April 9, 2026, analyst Stephane Foucaud of Auctus Advisors LLP raised his price target on Condor Energies Inc. (CDR:TSX.V) from CA$5.60 to CA$5.80 per share, implying a total potential return of 93% from the current share price of CA$3.00. The target increase follows an exceptionally strong flow test at the company's K-46 horizontal well in Uzbekistan, which the analyst believes materially improves the outlook for reserves, production, and exploration upside. <h2 class="font-claude-response-body break-words whitespace-normal leading-[1.7]" style="text-align: center;">Well Results & Operational Update</h2> The K-46 horizontal well delivered peak flow rates of up to 18.3 mmcf/d before being choked back to a stable 15.5 mmcf/d to reduce the risk of gas-hydrate formation. The well's absolute open-flow potential is estimated at 67 mmcf/d. The flowing pressure of 1,235 psi and an initial reservoir pressure of 2,695 psi — only 9% below virgin conditions — confirm that the pool remains largely undrained. The well was drilled in 35 days, down from 55 days for the prior horizontal well, with further efficiency gains anticipated. K-46 is expected to be brought onstream imminently, with drilling at the next well, K-47, commencing the same week. <h2 class="font-claude-response-body break-words whitespace-normal leading-[1.7]" style="text-align: center;">Reserves & Production Outlook</h2> Auctus raised its 2027 production forecast from 17.5 mboe/d to 19 mboe/d. With at least three additional horizontal wells planned from the same pad targeting the same reservoir, the analyst views the company's target of 20 mboe/d of production by year-end 2026 as well within reach. The strong test result is also expected to support a material increase in 2P reserves at year-end 2026, as horizontal wells were not incorporated into the auditor's prior reserves estimates. <h2 class="font-claude-response-body break-words whitespace-normal leading-[1.7]" style="text-align: center;">Exploration Upside</h2> The high flow rate at K-46 is consistent with dolomitization of the Kumli NW's upper reservoir, resulting in better-than-expected reservoir quality. Condor believes this dolomitisation trend could extend across the broader Kumli area, where 17 additional structures have already been mapped. The dolomitized intervals appear to be identifiable on seismic, providing a predictive tool for future drilling. Auctus has incorporated two of these structures into its valuation, assuming a combined recovery of 16 mmboe (based on 4 wells per structure, each recovering 2 mmboe). <h2 class="font-claude-response-body break-words whitespace-normal leading-[1.7]" style="text-align: center;">Valuation & NAV</h2> Auctus carries a 100% potential reserves upside, supported by a combined 360 bcf of gross 2P reserves and recoverable resources. The updated ReNAV stands at CA$5.80 per share, with an unrisked NAV of CA$9.47 per share and a total unrisked value of the LNG portfolio of approximately CA$7.30 per share. The stock currently trades at 0.5x ReNAV and 0.3x unrisked NAV. The core NAV, which encompasses Uzbekistan production assets and corporate items, is valued at CA$0.985 per share on a risked basis. The Kazakhstan LNG portfolio — including the Saryozek modular facility, Alga Phase 1, Alga Phase 2, and Kuryk projects — comprises the bulk of the risked upside at CA$4.82 per share. <h2 class="font-claude-response-body break-words whitespace-normal leading-[1.7]" style="text-align: center;">Financial Estimates</h2> Total production is forecast to grow from 10,490 boe/d in 2025 to 15,175 boe/d in 2026 and 19,215 boe/d in 2027. Cash flow from operations is projected at US$38 million in 2026 and US$32 million in 2027. The company carried net debt of US$8 million at end-2026 estimates, moving to a net cash position of US$3 million by 2027. Capital expenditure is forecast at US$50 million in 2026, declining to US$21 million in 2027. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a> Disclosures for Auctus Advisors, Condor Energies Inc., April 9, 2026 Condor Energies Inc. (“Condor” or the “Company”) is a corporate client of Auctus Advisors LLP (“Auctus”). Auctus receives, and has received in the past 12 months, compensation for providing corporate broking and/or investment banking services to the Company, including the publication and dissemination of marketing material from time to time. MiFID II Disclosures This document, being paid for by a corporate issuer, is believed by Auctus to be an ‘acceptable minor non-monetary benefit’ as set out in Article 12 (3) of the Commission Delegated Act C(2016) 2031 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. It is produced solely in support of our corporate broking and corporate finance business. Auctus does not offer a secondary execution service in the UK. This note is a marketing communication and NOT independent research. As such, it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and this note is NOT subject to the prohibition on dealing ahead of the dissemination of investment research. Author The research analyst who prepared this research report was Stephane Foucaud, a partner of Auctus. Not an offer to buy or sell Under no circumstances is this note to be construed to be an offer to buy or sell or deal in any security and/or derivative instruments. It is not an invitation or an inducement to engage in investment activity under section 21 of the Financial Services and Markets Act 2000. Note prepared in good faith and in reliance on publicly available information Comments made in this note have been arrived at in good faith and are based, at least in part, on current public information that Auctus considers reliable, but which it does not represent to be accurate or complete, and it should not be relied on as such. The information, opinions, forecasts and estimates contained in this document are current as of the date of this document and are subject to change without prior notification. No representation or warranty either actual or implied is made as to the accuracy, precision, completeness or correctness of the statements, opinions and judgements contained in this document. Auctus’ and related interests The persons who produced this note may be partners, employees and/or associates of Auctus. Auctus and/or its employees and/or partners and associates may or may not hold shares, warrants, options, other derivative instruments or other financial interests in the Company and reserve the right to acquire, hold or dispose of such positions in the future and without prior notification to the Company or any other person. Information purposes only This document is intended to be for background information purposes only and should be treated as such. This note is furnished on the basis and understanding that Auctus is under no responsibility or liability whatsoever in respect thereof, whether to the Company or any other person. Investment Risk Warning The value of any potential investment made in relation to companies mentioned in this document may rise or fall and sums realised may be less than those originally invested. Any reference to past performance should not be construed as being a guide to future performance. Investment in small companies, and especially upstream oil & gas companies, carries a high degree of risk and investment in the companies or commodities mentioned in this document may be affected by related currency variations. Changes in the pricing of related currencies and or commodities mentioned in this document may have an adverse effect on the value, price or income of the investment. Distribution This document is directed at persons having professional experience in matters relating to investments to whom Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 ("FPO") applies, or high net worth organisations to whom Article 49 of the FPO applies. The investment or investment activity to which this communication relates is available only to such persons and other persons to whom this communication may lawfully be made (“relevant persons”) and will be engaged in only with such persons. This Document must not be acted upon or relied upon by persons who are not relevant persons. Without limiting the foregoing, this note may not be distributed to any persons (or groups of persons), to whom such distribution would contravene the UK Financial Services and Markets Act 2000 or would constitute a contravention of the corresponding statute or statutory instrument in any other jurisdiction. Disclaimer This note has been forwarded to you solely for information purposes only and should not be considered as an offer or solicitation of an offer to sell, buy or subscribe to any securities or any derivative instrument or any other rights pertaining thereto (“financial instruments”). This note is intended for use by professional and business investors only. This note may not be reproduced without the prior written consent of Auctus. The information and opinions expressed in this note have been compiled from sources believed to be reliable but, neither Auctus, nor any of its partners, officers, or employees accept liability from any loss arising from the use hereof or makes any representations as to its accuracy and completeness. Any opinions, forecasts or estimates herein constitute a judgement as at the date of this note. There can be no assurance that future results or events will be consistent with any such opinions, forecasts or estimates. Past performance should not be taken as an indication or guarantee of future performance, and no representation or warranty, express or implied is made regarding future performance. This information is subject to change without notice, its accuracy is not guaranteed, it may be incomplete or condensed and it may not contain all material information concerning the company and its subsidiaries. Auctus is not agreeing to nor is it required to update the opinions, forecasts or estimates contained herein. The value of any securities or financial instruments mentioned in this note can fall as well as rise. Foreign currency denominated securities and financial instruments are subject to fluctuations in exchange rates that may have a positive or adverse effect on the value, price or income of such securities or financial instruments. Certain transactions, including those involving futures, options and other derivative instruments, can give rise to substantial risk and are not suitable for all investors. This note does not have regard to the specific instrument objectives, financial situation and the particular needs of any specific person who may receive this note. Auctus (or its partners, officers or employees) may, to the extent permitted by law, own or have a position in the securities or financial instruments (including derivative instruments or any other rights pertaining thereto) of the Company or any related or other company referred to herein, and may add to or dispose of any such position or may make a market or act as principle in any transaction in such securities or financial instruments. Partners of Auctus may also be directors of the Company or any other of the companies mentioned in this note. Auctus may, from time to time, provide or solicit investment banking or other financial services to, for or from the Company or any other company referred to herein. Auctus (or its partners, officers or employees) may, to the extent permitted by law, act upon or use the information or opinions presented herein, or research or analysis on which they are based prior to the material being published. 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Auctus expressly disclaims and will not be held responsible in any way, for third parties who affect such redistribution. © Auctus Advisors LLP All rights reserved 2026<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30936"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30936" width="0" height="0"> ( Companies Mentioned: CDR:TSX.V, ) Fri, 10 Apr 2026 00:00:00 PST Stagflation Not Seen in Decades https://www.streetwisereports.com/article/2026/04/07/stagflation-not-seen-in-decades.html Source: <a href="https://www.streetwisereports.com/article/2026/04/07/stagflation-not-seen-in-decades.html?utm_medium=feed">Tavi Costa 04/07/2026</a> Tavi Costa of Azuria Capital shares his thoughts on the impending stagflation and one mining company he believes is worth looking into.This is rapidly becoming one of the most pronounced stagflationary environments in decades. Inflation is accelerating while growth is rolling over sharply. That leaves the Fed in a real bind. At these levels of debt, you either save growth or kill inflation. And the truth is, policymakers will choose the former — because they can't afford the latter. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/20264761620_1.jpg" alt="" width="1000" height="696" /> To give credit where it's due, I want to highlight a chart from Bob Elliott from Unlimited Funds. It's a powerful illustration of how long periods of equity market stagnation are often followed by years of strong performance. If you look closely, the three historical stagnation periods largely stem from two main forces. The 1920s–1940s and the 2000s–2010s were both preceded by extreme equity valuations and speculative excess. Extended stretches of strong returns — where value investing is dismissed, and a new generation with little risk management experience takes the lead — tend to push markets into irrational territory for a time. And while I won't repeat the well-known quote about markets staying irrational longer than expected, the key point is this: Understanding the underlying imbalances matters far more than trying to pinpoint the exact catalyst, which is nearly impossible. That's why we see so many investors correctly anticipate downturns — just with poor timing. Predicting triggers is incredibly difficult. Allocating capital based on what is fundamentally cheap and high quality within the current macro environment is far more important than trying to call the peak of the Nasdaq. I will die on that hill. Warren Buffett built an entire career on this principle — tuning out short-term noise and focusing on enduring businesses. That discipline is worth studying. It's also important to consider the 1970s period in the chart. That stagnation was driven by inflation. Rising costs of capital, labor pressures squeezing margins, and deglobalization disrupting supply chains made for a very challenging environment for equities. We are seeing many of those same dynamics today — geopolitical tensions, supply constraints, and inflation pressures driven by commodities, logistics disruptions, and years of excess credit and easy monetary policy. At its core, that combination is likely the central issue. The point of this chart is to highlight risk and why I have no interest in owning overvalued US equities for growth that is now rolling over under the weight of global debt. When growth starts to decelerate at peak valuations, get out of the way — that's when things tend to unravel fast. In contrast, the opportunity set in hard assets and emerging markets, particularly Latin America, is far more compelling today. That's where I'm focusing my time, capital, and attention. The rebalancing out of financial assets and into hard assets may be one of the most important macro trends of the next 5–10 years. So why chase 50x sales AI companies? <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/20264761713_2.jpg" alt="" width="1000" height="635" /> The current level of Fed funds is suffocating growth and labor markets, yet still not restrictive enough to contain inflation. If you apply the Taylor Rule, short-term rates should be closer to 6.3% — and that estimate is already stale, based on January data. Today, that number is likely meaningfully higher. Inflation is not going away. In fact, it is likely to reaccelerate in the coming months and remain well above the Fed's so-called target. That's a given. Meanwhile, policy rates are still roughly 250 basis points below where they should be based on that framework. And the underlying signals are getting louder: Commodities are now nearly 25% above the highs reached during the peak of the Russia-Ukraine war. The equal-weighted commodity index is rising at an annualized pace of roughly 34%. The idea that the Fed can remain hawkish is already being challenged — just look at gold starting to reassert itself. At the same time, long-term Treasuries are starting to rally even as oil prices move higher. Now, before you think I've lost it… are you ready for a genuinely contrarian view? The most underappreciated scenario in markets today is one where energy prices remain structurally elevated, while the US is forced to push the entire yield curve lower to manage an unsustainable debt burden. In other words, inflation stays hot, rates ultimately fall, and policymakers quietly allow inflation to run. That is not a tail risk. It is increasingly becoming the base case. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/20264761749_3.png" alt="" width="1000" height="698" /> If you're wondering how this view might play out — and why it remains so underappreciated — look no further than the Brent crude futures curve. Global markets still seem to be underestimating the seriousness of the situation, particularly the unintended ripple effects of higher energy prices. These pressures are likely to spill into agricultural commodities and, ultimately, food prices. Given how severe global inequality already is, further escalation would have meaningful consequences. This is not just a market issue — it's a broader societal risk that is quietly building and likely to become far more visible in the near future. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/20264761811_3.png" alt="" width="1000" height="574" /> Agricultural commodities continue to break out, and this remains one of the most important macro developments since the Iran conflict began. I believe prices are on the verge of a much larger acceleration — one that could significantly worsen the global inflation problem. Recent data already points in that direction, with rising energy and fertilizer costs starting to push food prices higher globally. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/20264761857_4.png" alt="" width="1000" height="696" /> It's also critical to recognize that labor markets are already deteriorating — and doing so more meaningfully than most appreciate. The U-3 unemployment rate bottomed in April 2023 and has been trending higher ever since — coincidentally right around the time AI enthusiasm took off. But the real signal isn't the absolute level; it's the trend. One of the most reliable indicators I track is unemployment relative to its 24-month moving average. When the former crosses above the latter, deterioration tends to accelerate. This has happened every single time since 1970. Today, many will argue "this time is different" because the move has been more gradual. I strongly disagree. The pace is irrelevant — the direction is what matters. And if this trend continues, as I believe it will, the labor market will ultimately become the justification policymakers need to cut rates over the next 12 to 24 months. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/20264761920_5.png" alt="" width="1000" height="693" /> Now, let's turn this conversation back to gold… I know… I can't help myself. When it comes to the recent weakness in the metal price, there are two key drivers worth highlighting — both of which helped push prices into oversold territory. The first is obvious: Turkey. But the more important question is whether this becomes systemic across other emerging markets and central banks. My view is that it won't. Turkey is a very specific case, driven by its unique geopolitical position and near-term liquidity constraints. Countries like Brazil, China, Russia, and India are in a completely different position and are unlikely to behave the same way. Bloomberg, right near the recent bottom in gold prices, published a very misleading piece suggesting this could become contagious across other emerging markets. I think that's a very poorly thought-out conclusion — as, unfortunately, we've come to expect from the traditional media. The second factor is far less significant, but still worth mentioning. The liquidity stress in private equity — where some funds have gated investors— likely contributed at the margin. With capital locked up in illiquid assets, some investors may have been forced to sell what they could. That said, this is not a systemic driver. These investors rarely have meaningful exposure to gold, and if anything, their liquid allocations tend to lean on Bitcoin and others. It may have added pressure, but it is nowhere near large enough to drive a broader breakdown. Stepping back, nothing has changed in the long-term thesis for gold. If anything, this has created an opportunity to accumulate at discounted and oversold levels. That doesn't mean volatility is behind us. A sharp selloff in an asset that is typically stable will force large allocators to reassess risk. But they don't panic — they adjust. That usually means selling into strength rather than dumping positions at the lows. So expect some digestion here before the market finds a more stable footing. For long-term investors, this is exactly the type of environment where you want to be adding — not reacting. That's how I'm approaching it. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/20264761943_6.png" alt="" width="652" height="857" /> From a market standpoint, what's happening beneath the surface is even more telling. High-quality miners are holding up exceptionally well despite the recent shakeout in gold prices. That kind of relative strength is not random. It's what leadership looks like when a sector is in the process of bottoming. To be clear, I'm not claiming we've definitively seen the lows. The geopolitical backdrop remains highly fragile, and the situation can shift quickly. But I'm more than comfortable riding through the volatility and staying fully committed to my long-term positions. Because if anything, this price action reinforces my view — we are still in the very early innings of a mining cycle. Let me elaborate on one company I haven't yet. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/20264762006_7.jpg" alt="" width="624" height="434" /> Osisko Development Corp. (ODV:TSX.V) The core of the company is the Cariboo Gold Project — a rare combination of scale, grade, jurisdiction, and permitting that is increasingly difficult to replicate today. At the deposit level, Cariboo is already a ~2.0–2.1 million ounce reserve base grading ~3.6–3.8 g/t gold, which is meaningfully higher grade than most large-scale development projects globally. What makes this more compelling is not just the size, but the district-scale land package (~80 km of strike) with a long history of production, suggesting strong exploration upside beyond the current mine plan. In other words, you are underwriting a multi-million-ounce system, not a single deposit. From a production standpoint, the project is designed to deliver ~160k–190k ounces annually over a 10–12 year mine life, with clear potential to extend that through drilling. This puts Cariboo firmly in the "meaningful producer" category — large enough to matter, but still early in its growth curve. On capital intensity, this is where the story becomes more nuanced — but still attractive. The latest feasibility work points to ~CA$881M initial capex (with ~CA$1.4B all-in, including expansions). While not "cheap" in absolute terms, the project benefits from a phased development approach, with an initial lower-capital ramp that helps derisk execution and financing. More importantly, this is a fully permitted asset in Canada, which dramatically reduces one of the biggest risks in mining today — timeline uncertainty. Economically, the project is solid even on conservative assumptions and becomes very compelling at current gold prices. The 2025 feasibility study shows ~22% IRR and ~CA$943M after-tax NPV (5%) at US$2,400 gold, with costs around ~US$1,150/oz AISC. At spot prices closer to US$4,500+, the NPV expands materially (into multi-billion territory), creating strong torque to gold. That convexity is exactly what you want in a development name. Putting it all together, the investment case is straightforward: You have a permitted, high-grade, district-scale gold system in a Tier-1 jurisdiction, with a clear path to becoming a mid-tier producer and significant leverage to higher gold prices. The market is effectively being asked to finance the build — but in return, you are getting exposure to a long-life asset that could compound value through both production and continued discovery. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/20264762033_8.png" alt="" width="1000" height="705" /> Before I wrap up, I want to leave you with a few final thoughts on risk management… Stagflation is no longer a risk — it's starting to take hold across the macro landscape. While everyone is focused on the war, they're asking the wrong question. The real issue is how long it takes for the US to intervene in the recent surge in interest rates — and what that intervention will mean for all major asset classes. The idea that the Fed can remain hawkish is already unraveling. You can see it in gold forcefully reasserting itself — and that move is likely just getting started, regardless of how the war unfolds. One last thing before I go… I want to highlight an <a href="https://www.youtube.com/watch?v=AlfWOT0bSbs" target="_blank" rel="noopener">interview</a> with Carson Block in case you missed it this week. I agree with most of his views and think it's worth carefully considering the following. There is a very real risk of a stagflationary environment driven by a meaningful deterioration in labor markets, ultimately leading to a sharp widening in credit spreads. As he pointed out, volatility in credit markets remains far too cheap, which is precisely why these derivatives are so mispriced. To be fair, this is a view I've held for some time. Whenever I grow more concerned about broader markets, I tend to express it by adding short exposure to junk spreads — typically through puts on JNK or HYG — paired with long calls on TLT. Credit spreads today remain incredibly tight relative to the true cost of capital, in my view. That creates a compelling hedge for a stagflationary outcome — where commodity prices stay structurally elevated while the economy slows, further pressured by weakening labor markets. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/20264762059_9.jpg" alt="" width="736" height="438" /> I hope you enjoyed this piece. It was very much focused on macro views, with one company highlighted. Enjoy your day, and if you haven't yet suffered through one of my <a href="https://www.youtube.com/watch?v=JGibjutkaXM&t=603s" target="_blank" rel="noopener">interviews</a>, maybe now is a good moment. It's a great one to listen to before bed if you're having trouble falling asleep…. This was a sample of an article on Tavi Costa's Substack. <a href="https://tavicosta.substack.com/" target="_blank" rel="noopener">You can view more of his work by signing up here</a>. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>Tavi Costa: I, or members of my immediate household or family, own securities of: Osisko Development Corp. My company has a financial relationship with: None. My company has purchased stocks mentioned in this article for my management clients: None. I determined which companies would be included in this article based on my research and understanding of the sector.</li> <li>Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy. </li> <li> This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a> Tavi Costa Disclosures This commentary has been prepared by Tavi Costa for informational purposes only and does not constitute an offer or solicitation to buy or sell any security or financial instrument, nor does it constitute investment advice or a recommendation to participate in any trading strategy. The information contained herein has been obtained from sources believed to be reliable; however, Tavi Costa makes no representation or warranty, express or implied, as to its accuracy or completeness. Any opinions or estimates expressed reflect personal views as of the date of publication and are subject to change without notice. Past performance is not indicative of future results. Readers should consider this material as only one input in their decision-making process and should obtain independent financial, legal, and tax advice before making any investment decisions. Investing in financial instruments involves substantial risk, including the potential loss of principal. The value of investments and the income derived from them may fluctuate and may be affected by changes in interest rates, foreign exchange rates, credit conditions, and the price or volatility of underlying assets. Certain investments may be speculative and are not suitable for all investors. Tavi Costa may, from time to time, have long or short positions in securities or other financial instruments mentioned and may transact in such instruments without further notice.<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30909"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30909" width="0" height="0"> ( Companies Mentioned: ODV:TSX.V, ) Tue, 07 Apr 2026 00:00:00 PST Oil Be Back! https://www.streetwisereports.com/article/2026/04/06/oil-be-back.html Source: <a href="https://www.streetwisereports.com/article/2026/04/06/oil-be-back.html?utm_medium=feed">Michael Ballanger 04/06/2026</a> Michael Ballanger of GGM Advisory Inc. shares his view on the current state of the markets, specifically looking at oil.Back in the 1970's, as I was toiling diligently within the halls of Saint Louis University to complete my business degree, I witnessed long line-ups of frustrated drivers waiting diligently for the arrival of the tankers to re-fill the empty reservoirs at gas stations around the city. In fact, with then-President Richard Nixon battling to preserve his presidency, the S&P 500 was in slow but perpetual decline, dropping 41.9% in the same period. When I first entered into the Canadian securities industry in the spring of 1977, veteran stock salesman at my firm would relay stories of the Great Bear Market of 1973-1974 when the vast majority of those living the good life in the Go-Go Sixties were forced to sell cottages in Muskoka and homes in Toronto's upscale Forest Hill neighbourhood after their clients (and their six-figure incomes) vacated the premises. In fact, as empty were the reservoirs at gas stations in 1974, equally empty were the bank accounts of customers the world over that stayed focused on the "Nifty Fifty" group of stocks (IBM, Coca-Cola, and MacDonald's), all of which crashed and burned along with the net worth statements of securities executives. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202646101902_1.png" alt="" width="624" height="222" /> I have relayed before the story of a now-defunct brokerage firm, once considered a boutique on Bay Street, that had the most ostentatious of offices proudly situated at Bay and Bloor in 1972, rip out the offices and then state-of-the-art telephone systems only to replace them with a bank of pay phones so that the brokers (now cab drivers) could call what few clients that remained active while they ate their brown-bag lunches, cabs dutifully parked on the street below. Kiddies with securities licenses today can be found flipping "AI" stocks or crypto ETF's, happy to use any utterance by a Fed official or an market-obsessed president vaguely tinged with "stimulus" as an excuse to "BUY BUY BUY!" all the while they trot out their business cards with the term "wealth manager" or "retirement specialist" or "portfolio manager". Not one of these kiddies has ever endured anything resembling the 1973-74 bear market that mauled investors with little of no respite for twenty one months — six-hundred and thirty days of financial agony as loss after loss ate away at savings, nest eggs, and once-mighty retirement accounts. The look on the faces of salesmen (as opposed to "financial advisors") that endured that horrific period is a telling one as their eyes glaze over and they stare off into the distance while recounting tale after tale of heartbreak and ruin of someone they knew during the good times. While there are some that point to Watergate as the culprit that ushered in the bear, there was really only one perpetrator of the crime and that was a massive spike in the price of oil. However, while the explosion in oil prices from $4.00 to $34.00 in the early 70's was the initial drivers for inflation, the Fed was behind the curve by about a country mile, failing to take notice of the escalating gold price which had been freed from its dollar peg by Nixon in 1971. As Americans struggled to keep their cars on the road without sacrificing their grocery budget or mortgage payment, there were a group of very savvy investors that were able to quickly make the transition from "blue-chip brokers" to "resource players" such that by the time I joined the industry in 1977, there salesmen driving the big new cars and buying all the power-of-sale cottages in Muskoka were wearing Stetsons and talking about "West Pembina" and "Dome Petroleums" while seated inconspicuously at the back of the brokerage bullpen. Adorned in tweed or leather blazers and wearing colourful ties or ascots, there were no pin-striped suits or Buster Brown shoes and nobody talked about bonds or blue-chip stocks. The action was in the junior oils and to a lesser degree in the gold miners (particularly the South Afrikaan gold miners) that were all rising as quickly as were the prices for oil and gold and the U.S. inflation rate. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202646101931_2.png" alt="" width="624" height="278" /> Today in April 2026, CNBC is still locked in the daily drone of coverage for all of the companies that led investors during the bull market that actually ended in October of 2025. Sadly, as is the case with all bull markets that end, investors (and the financial news media) are still anchored in past glories and bygone victories. In fact, on Friday, I heard an analyst still talking about the "AI buildout" some five months after Nvidia Corp. (NVDA:NASDAQ)hit its all-time high above $212. Down 6.48% year-to-date and 16.40% from its ATH, the poster child for the last bull market is barking a different story as missiles fly in the Middle East. If there is one lesson taught with cruel intent and debilitating discipline, it is that one should never stay too long at any party, particularly one that has the host walking around constantly telling you what a great time you (and everyone else) is/are having as you are weaving your way to the lavatory to relieve yourself of some Russian caviar and French champagne. That is exactly what CNBC does every day of the week. They are constantly reminding investors of "what is working" or, in other words, "what you're missing" as the colour commentators (nee "book pumpers") hold centre stage. I cite as a perfect example of the CNBC playbook the example of oil and gas stocks thus far in 2026. All through the month of January, you could find nary a segment in which CNBC (or Bloomberg, for that matter) covered the energy names. If anyone mentioned Exxon or Haliburton, they were summarily dismissed as being "irrelevant" because a) no one cares and b) there were zero oil & gas advertisers filling CNBC's coffers (with vastly more emphasis on (b) than (a)). Then as suddenly as hypersonic missile hit U.S. bases in the Middle East, oil was at $120 with CNBC dusting off ancient Rolodexes to try to hunt down somebody — anybody — that could talk quasi-intelligently about energy. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202646101959_3.png" alt="" width="624" height="278" /> This a classic example of why outlets like CNBC should be avoided like the Bubonic plague; they are 100% reactive and 0% predictive to market-impacting events. I hold out as evidence the case of gold-versus-Bitcoin in January. The precious metals have been outperforming Bitcoin for what seems like ages while in reality, the break started only last October. Yet despite this obvious outperformance by gold (and even greater using the gold mining stocks), CNBC continues to trot out crypto "experts" like Tom Lee hour after hour and day after day who constantly prattle on about "dollar cost averaging" and "long-term returns" whereas phrases like "crushing it" and "face-ripping rally" (in reference to owning Bitcoin) are now absent from the discussion. If I am able to listen to the CEO of Agnico Eagle Mines Ltd. (AEM:TSX; AEM:NYSE) or Newmont Corp. (NEM:NYSE; NGT:TSX; NEM:ASX) as much as once in the quarter let alone the month, it would go down in MSM history books. So, it is now the second quarter of 2026 and the Middle East is ablaze while oil hums along at $112/bbl. The last time there as an oil shock anywhere close to this one it brought on a 25% drop in the S&P 500 against a 35% spike in oil. That was in 2022-2023 after the Russians made their move on the Ukraine followed by then-President Biden stealing their U.S. dollar reserves. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202646102027_4.png" alt="" width="624" height="278" /> Fast forward to April 2026 and we have the mighty S&P 500 off a paltry 6% from its all-time high registered on January 28th at 7,002.28. Oil is up 105.5% in the same time period, an advance over three times the advance in 2021-2022. Now retrograde to 1973-1974 with oil rising over eightfold due to the Arab Oil Embargo and consider the 41.9% drop during that oil-inspired bear market. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202646102047_5.png" alt="" width="624" height="278" /> As an arbiter of global growth and economic health, I entitled this missive "Oil be back!" so as I am mulling over the tone and content of my current portfolio, I am forced kicking and screaming to look at the measly 6% feather-dusting of the S&P 500 against the sledgehammer pounding in 1973-1974 and wonder what happens to failed automakers like Tesla Inc. (TSLA:NASDAQ) when markets finally wake up. I am always drawn to statements repeated over and over ad nauseum from "legendary investor Warren Buffett" where he states that "you won't find out who is swimming naked until after the tide goes out" as an obvious allegory to finding out which companies are real and which companies are "phonies" only after the "irrational exuberance" vacates markets. TSLA:US has been riding the wave of cult-follower exuberance as those who view Elon Musk as the arrival of the next Messiah continue to bid up shares of his failed (and failing) EV manufacturer. On Thursday, I watched with glee as the company once again missed its number delivering 358,023 vehicles in Q1 2026, falling short of the analyst consensus of roughly 368,000 to 381,000 units. The company produced 408,386 vehicles, leaving a gap of more than 50,000 unsold cars added to its inventory. (Analysts view this "inventory build" as a sign of softening demand and a growing imbalance between supply and sales.) CNBC has colour commentators continually chirping up the "Elon Effect" day after gruelling day resulting in regularly-scheduled short squeezes rescuing moving average trend lines and other technical support levels with mind-numbing frequency and predictability. However, on Thursday as the investing world headed into Good Friday and the Easter long weekend, markets punished Mr. Musk and the indestructability of his brand by slamming TSLA:US by 5.42% on the session making the YTD decline now 17.34%. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202646102113_6.png" alt="" width="624" height="375" /> For me, TSLA:US represents everything I absolutely loathe about today's markets. This is a classic case of group manipulation where the government chooses a prodigal son (like Elon) and anoints him with anti-regulatory immunity and then holds him out as a shining example of American ingenuity and entrepreneurialism while he violates rule after rule while in total defiance of regulatory requirements and corporate governance. Why? It is because for all his faults, flaws, and foibles, Elon makes people money and a great deal of it. Because investors care not a whit as to the "how" (he makes his dough), they care only about the "how many", as in, dollars he puts in their pockets with his antics which have gone from the ridiculous to the sublime in recent months. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202646102141_7.png" alt="" width="624" height="375" /> As a self-confessed bear on shares in TSLA:US (I own the T-Rex 2X's Inverse Tesla Daily Target ETF (TSLZ:US)), I have told subscribers that they should probably ignore my predilection for pain because I have ridden this ETF from $27 to under $10 and after averaging down (with great trepidation and ample doses of Jack Daniels and Percocet), I am now only mildly underwater but more optimistic today than I have been at ay time in the past year. I have told subscribers that I own it "on principle alone" and that I will not cover until I watch TSLA:US break down through $100. Since it closed at $360.59, the funny sounds you are hearing out there are the shrieks of laughter from my subscriber base when they read that I am calling for "sub-$100" on the world's most overpriced automaker whose lunch is being heartily consumed by competitors BYD and Xiaomi (both Chinese). As is always the case when this writer becomes obsessed with a whacked-out idea — caveat emptor. <h2 style="text-align: center;">Gold Price</h2> <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202646102215_8.png" alt="" width="624" height="272" /> Shifting to the metals, followers of this author will find it no surprise that I have been a stalwart bull on the gold market since launching the GGM Advisory back in 2020. I exited the senior and junior gold ETF's far too early in 2024 but remained long a basket of the junior gold and junior copper developers until last month when I bit the bullet hard (almost breaking two molars and one incisor) and bought June call options on both the GDX:US and the GDXJ:US, two ETF's that have over the years treated me lavishly. When asked why I would make such an insane move when it is so obvious that we have seen "generational highs" in both gold and silver in January, I responded by pointing to the chart of gold from 1920 until today, drawing reference to the mid-70's when a 50% correction took gold down from $190 to $100 in a couple of months before resuming its bullish configuration. Non-believers back then took handsome profits from the lows of $35 in 1971 by generating a 5.71 times return. However, if one bought the lows in 1976, they took a ride of 8.57 times their investment by 1980. I believe that the recent correction from $5,626 to $4,138 (∞ 25%) was enough to qualify as a "mid-course correction" in the journey to much higher prices. I have never veered from my conviction that the 8,133 metric tonnes of gold allegedly held in trust by the Federal Reserve will be revalued in order to collateralize the massive (and growing) national debt estimated to be today approaching USD $40 trillion. Representing some 286 million ounces of gold, to fully back that debt with the U.S. gold reserve, the price would need to be pegged at USD at $139,860 per ounce. Now, perhaps a less-rabid figure of 10% of the national debt might be somewhat less "controversial" but even at that, it comes to $13,986 per ounce, a figure roughly three times the current price. As a comparative, when I launched the first Forecast Issue back in January 2020, the 10% figure was $8,741 per ounce with gold quoted at around USD $1,500 per ounce. The gold price required to back 10% of the current debt load has risen 600% in six years which is a sad and very disturbing testimonial to the state of America's balance sheet. As a result, I started with the VanEck Senior Gold Miner ETF (GDX:US) putting out a "BUY" the weekend of March 20th and actually taking a position in the GDX June $75 calls at $10. I followed up later that week with the Van Eck Junior Miners ETF (GDXJ:US) June $115 calls at $10 while missing my entry level for the actual entry for the ETF's themselves. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202646102245_9.png" alt="" width="624" height="570" /> The chart shown above was posted on Friday March 20th and you can see that the price action was indeed vintage "bottoming action" with RSI sub-30, and MACD and MFI plunging into deeply oversold territory at the time. That, coupled with the absolute delight by financial commentators the world over, spelled "BUY". Longer-term, while the correction was shorter and of milder amplitude than 1976, I believe in principle that it was what was required in order to augment and extend the bull market that began in earnest on December 4th 2015 at $1,045 per ounce. Why do I know this? For the first time since the creation of CNBC in 1988, the "Cartoon Network" was covering gold and particularly silver every day on an hourly basis for the last two weeks in January while it was apparent that none of the anchors or colour commentators (except Guy Adami and Rick Santelli) owned as much as a sliver of either metal. That was the ultimate tip-off but the concrete confirmation came in the first few days of February when the entire CNBC newsroom was cheering at the crash in silver, failing to mention that even after the crash, silver was still outperforming the S&P by a fairly wide margin. Time, as they say, to "back up the truck", which I did. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202646102310_10.png" alt="" width="624" height="278" /> As for the was in the Middle East, the markets listened to the boasting, bragging, bluster, and bravado of the American president on Wednesday evening and decided that it was not all as advertised because they took stocks apart on Thursday morning. However, as the day wore on, it became apparent to many that the American resolve is starting to flag as Trump told the world that "it will all be over in 2-3 weeks" so as markets are prone to do, they started to look out to a post-war scenario of weakening economies, higher inflation, fewer rate cuts and a burgeoning U.S. budget deficit and determined that what this virtually guaranteed, rather than a recession, was the arrival of the highly predictable fiscal stimulus that literally always materializes before the bear market cancer can metastasize. For those bears out there, remember that lower economic activity during recessionary periods equals lower tax revenues and with the problem being faced by Treasury Secretary Scott Bessent, recession is not an option. Since stimulus equals more debasement, a lower dollar and higher commodities are in the cards and on the table. I reject the call for a return of the "Thundering Herd" once this stimulus arrives because we have been seeing this gradual but accelerating rotation out of tech (AI and Crypto) into hard assets since last fall. I see any new stimulus initiatives lighting a fire under the metals, food, and natural gas (which is cheap) rather than the ones that "worked" during the post-April lovefest last year... Despite the longer-term bearish implications for stocks brought about by the oil spike, the short-term will be dominated by policy moves by the White House aimed at winning the November mid-terms and these policy moves will be centred around a rising stock market and global growth. The sacrificial lambs will be the U.S. dollar and long-term bonds which make it a breeding ground for the gold bugs, an environment well-covered by the GGM Advisory. As you are sitting down for Easter dinner this weekend, remember that old and wonderful Irish prayer: "May I find myself in Heaven one hour before the Devil knows I'm dead." <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Agnico Eagle Mines Ltd. and Tesla Inc., </li> <li>Michael Ballanger: I, or members of my immediate household or family, own securities of: The Van Eck Junior Gold Miners ETF. My company has a financial relationship with: None. My company has purchased stocks mentioned in this article for my management clients: None. I determined which companies would be included in this article based on my research and understanding of the sector.</li> <li>Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy. </li> <li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting" target="_blank" rel="noopener">here.</a> Michael Ballanger Disclosures This letter makes no guarantee or warranty on the accuracy or completeness of the data provided. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. This letter represents my views and replicates trades that I am making but nothing more than that. Always consult your registered advisor to assist you with your investments. I accept no liability for any loss arising from the use of the data contained on this letter. Options and junior mining stocks contain a high level of risk that may result in the loss of part or all invested capital and therefore are suitable for experienced and professional investors and traders only. One should be familiar with the risks involved in junior mining and options trading and we recommend consulting a financial adviser if you feel you do not understand the risks involved. <img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30903"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30903" width="0" height="0"> Mon, 06 Apr 2026 00:00:00 PST Lithium Developer Lands Spot in US-Japan Critical Minerals Partnership https://www.streetwisereports.com/article/2026/04/08/lithium-developer-lands-spot-in-us-japan-critical-minerals-partnership.html Source: <a href="https://www.streetwisereports.com/article/2026/04/08/lithium-developer-lands-spot-in-us-japan-critical-minerals-partnership.html?utm_medium=feed">Streetwise Reports 04/08/2026</a> Atlas Lithium Corp.'s (ATLX:NASDAQ) Neves Project in Brazil is being considered for financial backing by Japan and the U.S. governments.<a href="https://www.streetwisereports.com/pub/co/11040?utm_medium=feed" target="_blank" rel="noopener">Atlas Lithium Corp. (ATLX:NASDAQ)</a> announced that its wholly-owned Neves Project in Brazil's Lithium Valley has been highlighted in the Joint Fact Sheet for Japan-U.S. Critical Minerals Project Cooperation, <a href="https://www.atlas-lithium.com/news/u-s-and-japan-identify-atlas-lithiums-neves-project-for-potential-government-financial-support-in-landmark-critical-minerals-partnership/" target="_blank" rel="noopener">according to a release on April 2</a>. This document, unveiled on March 20, by Japan's Ministry of Economy, Trade, and Industry in collaboration with the Ministry of Foreign Affairs of Japan, marks the Neves Project as the sole Brazil-based lithium initiative recognized in this context. The full document <a href="https://www.meti.go.jp/press/2025/03/20260320001/20260320001-e.pdf" target="_blank" rel="noopener">can be accessed online</a>. The Fact Sheet indicates that the governments of Japan and the United States are contemplating financial backing for the development of the Neves Project. This announcement follows closely on the heels of the U.S.-Japan Critical Minerals Investment Ministerial, which took place on March 14 in Tokyo involving key U.S. departments and Japan's METI. Additionally, it comes after a summit on March 19 between Japan's Prime Minister Sanae Takaichi and U.S. President Donald Trump. Both nations have committed to an action plan aimed at fortifying the secure and diversified supply chains of critical minerals, building on a prior agreement signed in Tokyo on October 28, 2025. "The inclusion of the Neves Project in the Japan-U.S. Critical Minerals Joint Fact Sheet, with both the U.S. and Japanese governments considering financial support for our project, is a powerful recognition of the strategic value of our assets and the progress that our team has achieved," Atlas Lithium Chief Executive Officer and Chairman Marc Fogassa said. "Together with our strategic partner Mitsui & Co., we remain focused on bringing the Neves Project into production and supplying high-quality lithium concentrate to the global market. We are also proud of working with the local communities in bringing progress to an economically disadvantaged area of Brazil." The Joint Fact Sheet lists several projects that could enhance the critical minerals supply chain, including Atlas Lithium's Neves Project. This inclusion is significant, especially considering Atlas Lithium's strategic partnership with Mitsui & Co., Ltd., a major Japanese trading and investment entity. In March 2024, Mitsui invested US$30 million in Atlas Lithium shares and secured an offtake agreement to purchase lithium concentrate from the Neves Project, thereby linking the project directly to Japan's industrial sectors. <h2 style="text-align: center;">Co. Takes 'Critical Step' Toward Production</h2> <a href="https://www.streetwisereports.com/article/2025/12/29/final-stages-of-contracting-talks-signal-major-progress-at-high-grade-lithium-project.html?utm_medium=feed" target="_blank" rel="noopener">In December 2025, the company announced</a> that it is nearing the end of its search for a project management and construction supervision service provider for Neves. Situated in Minas Gerais, the Neves Project stands as Atlas Lithium's premier lithium development endeavor, bolstered by a Definitive Feasibility Study with world-class project economics. Atlas Lithium is in the process of selecting a firm that will oversee the planning, coordination, monitoring, and control of all construction activities at the site. This firm will ensure that the project adheres to the predetermined schedule, budget, scope, quality, safety, and performance standards. The company said it undertook a thorough evaluation process, reviewing five potential firms based on their technical expertise, experience with Brazilian mining projects, and their proposed management systems. Vice President of Engineering and Project Management Officer Eduardo Queiroz emphasized the importance of this partnership, stating, "securing a top-tier project management partner is a critical step in our disciplined approach to making Atlas Lithium a producer of lithium concentrate in short order." He further noted, "With our processing plant already in Brazil and key permits in place, we are methodically advancing toward production while maintaining our focus on cost discipline and schedule optimization." The lithium processing plant mentioned by Queiroz has already arrived in Brazil and is is now ready for assembly. Following assembly, pre-operational testing is expected to commence. Atlas Lithium anticipates finalizing the contract with the chosen project management firm early in 2026. Furthermore, Atlas Lithium has secured all necessary permits for the Neves Project, which include installation, mining concession, water use rights, and vegetation clearance authorizations. The project plans to implement 100% dry-stacking for waste management, thereby eliminating the need for a tailings dam, and aims to recirculate over 95% of its process water, highlighting its commitment to sustainable mining practices. <h2 style="text-align: center;">Analyst: Co. Well-Capitalized to Achieve Commercial Production</h2> <a href="https://www.streetwisereports.com/article/2026/03/17/lithium-co-s-low-cost-profile-and-mitsui-offtake-agreement-drive-m-a-interest.html?utm_medium=feed" target="_blank" rel="noopener">On March 17, 2026, H.C. Wainwright & Co. analyst Heiko F. Ihle, CFA, maintained a Buy rating</a> on Atlas Lithium and increased his price target from US$12.00 to US$12.50. Ihle cited the ongoing reduction of risks at Neves and the company's advantageous cost structure as primary factors for the adjustment. Ihle described 2026 as a crucial year for Atlas Lithium, noting the company's focus on initiating Phase 1 of production at Neves, which includes the construction of a 150,000 tonne-per-year modular Dense Media Separation (DMS) plant. He mentioned that the company is transitioning from procurement to actual plant assembly and is also working on expanding its permits following a technical report in August 2025. The analyst pointed out that Atlas Lithium appears well-capitalized to achieve commercial production in the near future, with a significant cash reserve and a manageable debt level. He also emphasized the company's appeal as a potential merger and acquisition target due to its low projected operating costs and strategic location in Brazil's "Lithium Valley." Ihle's revised price target of US$12.50 is based on an increased net asset value (NAV) multiple, reflecting the project's de-risking and a comprehensive valuation model that includes comparisons and financial projections. He highlighted the company's strategic partnerships and off-take agreements as indicators of ongoing industry interest. Finally, Ihle noted potential risks, including fluctuations in commodity prices, technical challenges in resource definition, and construction costs, which could impact the project's progress and financial outcomes. <h2 style="text-align: center;">The Catalyst: AI Pushing Demand Worldwide</h2> The AI industry's expansion is significantly driving up the demand for lithium, primarily due to the increased need for lithium-iron phosphate batteries in data centers, <a href="https://www.cmegroup.com/openmarkets/metals/2026/Why-the-AI-Boom-is-Boosting-Lithium-Demand.html" target="_blank" rel="noopener">according to Ivan Castano writing for Open Markets on March 18</a> These batteries are essential for maintaining a stable energy supply, crucial for operations like training large language models which consume substantial amounts of power. Unlike the smaller lithium-ion batteries used in EVs, these larger units are integral to Battery Energy Storage Systems (BESS). These facilities are becoming more common across the U.S. and globally, storing energy from renewable sources or the grid and releasing it during peak demand or power outages, thus ensuring continuous power supply to data centers. The systems are also beneficial for solar energy providers, allowing them to store excess energy produced during peak sunlight and sell it in the evening, thereby stabilizing their income despite the intermittent nature of solar power. This shift is causing the lithium demand for energy storage to outpace that of the EV market. According to Benchmark Minerals Intelligence, last year saw a 51% increase in BESS demand compared to a 26% rise for EVs, although EVs still make up about 75% of the global battery demand.[OWNERSHIP_CHART-11040] The market dynamics are shifting from an oversupply and lower prices to a scenario of scarce supply and rising prices, lifting lithium out of a three-year price dip. Prices have soared 120% over the past six months, with significant fluctuations such as a 46% price spike in January due to low inventories before the Chinese New Year. Andy Leyland, founder of SC Insights, predicts a tightening market, stating, "The market is looking pretty strong," and anticipates a 24% demand increase versus a 19% supply increase by 2026. This growing market tightness is mirrored in the futures market, where there is a noticeable shift towards using CME Group Lithium futures as a risk management strategy, reflecting the industry's need to hedge against price volatility amid supply disruptions and the EV industry's evolving purchasing strategies. In 2025, the global lithium market was valued at approximately US$32.38 billion and is projected to expand to US$96.45 billion by 2033, advancing at a compound annual growth rate (CAGR) of 14.5% from 2026 to 2033, <a href="https://www.grandviewresearch.com/industry-analysis/lithium-market" target="_blank" rel="noopener">Grand View Research reported</a>. This growth is largely driven by the increasing adoption of electric vehicles (EVs), which rely heavily on lithium-ion batteries. The automotive sector, in particular, is expected to see robust growth due to stringent government regulations aimed at reducing carbon dioxide emissions from internal combustion engine vehicles, pushing automakers towards EV production. <h2 style="text-align: center;">Ownership and Share Structure1</h2> As for ownership and share structure, management owns approximately 26% of Atlas Lithium common shares. Strategic partner Mitsui & Co. Ltd. has 7%. Numerous institutions hold 20%. Retail investors own the rest. Atlas Lithium has 27.7 million shares outstanding. Its market cap is ~US$130 million. Its 52-week range is US$3.54–8.25 per share. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>Atlas Lithium Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000. </li> <li>As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Atlas Lithium Corp.</li> <li>Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.</li> <li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a> 1. Ownership and Share Structure Information The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30902"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30902" width="0" height="0"> ( Companies Mentioned: ATLX:NASDAQ, ) Wed, 08 Apr 2026 00:00:00 PST Uranium Explorer Launches Massive Exploration Program in Saskatchewan https://www.streetwisereports.com/article/2026/04/01/uranium-explorer-launches-massive-exploration-program-in-saskatchewan.html Source: <a href="https://www.streetwisereports.com/article/2026/04/01/uranium-explorer-launches-massive-exploration-program-in-saskatchewan.html?utm_medium=feed">Streetwise Reports 04/01/2026</a> Skyharbour Resources Ltd. (SYH:TSX.V; SYHBF:OTCQX; SC1P:FSE) begins the first phase of drilling at its Moore Uranium Project as demand for uranium strengthens.<a href="https://www.streetwisereports.com/pub/co/6026?utm_medium=feed" target="_blank" rel="noopener">Skyharbour Resources Ltd. (SYH:TSX.V; SYHBF:OTCQX; SC1P:FSE)</a> announced the start of this year's first phase of drilling at its wholly-owned Moore Uranium Project, spanning 35,705 hectares and located roughly 15 kilometers east of Denison Mines’ Wheeler River project in eastern Athabasca Basin, Saskatchewan, <a href="https://www.skyharbourltd.com/news-media/news/skyharbour-announces-drilling-underway-and-renewed-permit-at-the-high-grade-moore-lake-uranium-project-saskatchewan">according to an April 1 release</a>. Skyharbour said it has also secured a renewed three-year drill permit for the project, valid through March 2029. "Skyharbour has commenced its multi-phased 2026 drill campaign at Moore, which is planned to total 8,000 to 10,000 meters of diamond drilling at the Maverick Trend and other regional targets," the release noted. "The Phase I program that is underway is expected to consist of approximately 4,000 to 5,000 meters in 10 to 12 drill holes." Earlier this year, Skyharbour completed a 58.3 line-kilometer ground Step Loop Transient Electromagnetic (SLTEM) survey, which extended the geophysical coverage by 2 kilometers southwest along the 12-kilometer-long Maverick Trend. This survey not only refined existing targets but also identified additional electromagnetic (EM) conductors for drilling along the Nomad structural trend, which is known for intense hydrothermal alteration and structural disruption as seen in the 2025 drilling at the new Nomad target, the company said. In addition to these field activities, Skyharbour said it has engaged SMCG Services to perform advanced data integration and AI-assisted prospectivity modeling to enhance drill targeting across the Moore Project. The Phase I drilling is primarily targeting the Nomad Zone, focusing on priority gravity anomalies and newly identified EM conductors. Plans are also in place for follow-up drilling at the Esker target area to the northeast to assess potential strike extensions of mineralization previously discovered in historical drill hole ML-165, which showed 1.21% U3O8 over 0.5 meters at the unconformity, Skyharbour noted. The phase will also include expansion drilling at the Maverick Zones to explore the basement-hosted potential that was suggested by previously intersected high-grade mineralization, and at the Nutana target, where past drilling revealed significant dravite alteration and graphitic basement conductors that have yet to be fully tested due to the broad spacing of the initial drills. <h2 style="text-align: center;">Exploration to Target Nomad, Esker, Nutana Zones</h2> This phase of exploration at Moore targets several zones, including the Nomad, Esker, and Nutana Zones, each presenting unique geological features and potential for significant uranium discoveries, the company said. The Nomad Zone, identified in 2025 after reinterpreting a 2005 ground gravity survey, revealed a structural corridor along the Maverick Trend, approximately 1.7 kilometers west-southwest of the Main Maverick Zone. Drilling in 2025 uncovered strongly altered sandstone and basement rocks, indicating a broad, structurally controlled hydrothermal system. This zone remains largely untested along its southwest strike, suggesting substantial untapped potential. The Esker Zone, about 3 kilometers northeast of the Maverick along the same structural corridor, has historical drilling that returned high-grade uranium results, including 1.21% U3O8 over 0.5 meters, Skyharbour said. Despite these promising findings, the northeast extension under lake cover is largely unexplored, which the 2026 drilling aims to address by testing prioritized electromagnetic (EM) and resistivity anomalies. Meanwhile, the Nutana Zone is characterized by multiple graphitic conductors and significant alteration, indicative of a potent hydrothermal system. Historical wide-spaced drilling here suggests a strong potential for mineralization along strike, which remains to be thoroughly tested. To enhance exploration efficiency, Skyharbour said it has engaged SMCG Services, led by Drew Heasman, to perform advanced data integration and AI-assisted prospectivity mapping. This effort will integrate various geological and geophysical data to identify and prioritize exploration targets across the broader Maverick Trend. Since acquiring the Moore Uranium Project from Denison Mines back in 2016, Skyharbour said it has confirmed high-grade unconformity-related uranium mineralization, with significant drill results reported over the years, including a recent 4.84% U3O8 over 4.4 meters in 2025. <h2 style="text-align: center;">Analyst: Co.'s Most Extensive Drill Campaign to Date</h2> While much attention has been focused on gold and silver, the notable increase in uranium prices, which have risen 28% year-over-year to US$88 per pound, has not captured as much market attention, according to a research note by Sid Rajeev of Fundamental Research Corp. dated February 5. This price level for uranium has only been reached a few times in the past: briefly in 2007 and more recently in late 2023. Rajeev points out that the dynamics in the uranium market are currently very favorable. The Sprott Physical Uranium Trust, the world's largest physical uranium fund, has increased its holdings by 4% to 78 million pounds within a month, indicating robust demand. This demand surge is supported by the Trump administration's fast-tracked approvals in the nuclear sector and substantial investments by major tech companies in nuclear power for AI and data center growth. These factors are likely to continue propelling uranium demand, particularly amid ongoing supply chain vulnerabilities, with Russia controlling 35% of the global enrichment capacity. Skyharbour is gearing up for its most extensive annual drill campaign to date, with plans for exploration at Moore and the new Russell Lake joint venture. At Moore, the focus is on delivering a maiden resource estimate this year, which Rajeev believes will significantly clarify the project's potential and serve as a major catalyst for the company. Rajeev also highlighted that upcoming catalysts for Skyharbour include improved uranium market sentiment, partner-funded exploration, and significant drilling programs at both Moore and Russell Lake. Rajeev maintained his Buy rating, adjusting his fair value estimate from CA$1.12 to CA$1.16 per share, citing the company's expanded portfolio and key drilling programs as well-positioned to benefit from potential sector upswings. David Talbot, managing director and head of equity research, <a href="https://www.streetwisereports.com/article/2026/01/20/drilling-at-u3o8-asset-shows-grade-footprint-upside.html?utm_medium=feed" target="_blank" rel="noopener">in a January 15 research note</a>, detailed the encouraging results from Skyharbour's 2025 drilling at Moore, which successfully expanded the Main Maverick and Maverick East zones, including the discovery and expansion of higher-grade areas. Talbot also noted that Skyharbour's pipeline of potential drill targets continues to expand. Regarding Russell Lake, he mentioned that this project remains one of Skyharbour's flagship properties, with expectations for increased activity throughout the year, including the announcement of its initial mineral resource estimate. Red Cloud Securities has maintained its target price for Skyharbour at CA$0.65 per share, with the stock currently trading around CA$0.44, suggesting a potential 48% return to the target price, and continues to classify Skyharbour as a Speculative Buy. <h2 style="text-align: center;">The Catalyst: Digital Economy Fueling Resurgence of Nuclear Power</h2> Uranium, after two decades of relative neglect, is once again capturing significant attention, but this time the stakes are much higher, <a href="https://www.home.saxo/en-ch/content/articles/equities/uranium-boom-en-30032026" target="_blank" rel="noopener">according to a report by Investment Analyst Dorian Anglada for Saxo on March 30</a>. The demand for uranium is surging, largely fueled by the needs of the digital economy, while the supply side is lagging, hindered by years of insufficient investment, Anglada noted. Now receiving substantial political backing, uranium is quickly becoming one of the most fundamentally important commodities in the market today. Uranium is a dense, naturally radioactive metal found in minimal concentrations within the Earth's crust. It is the exclusive fuel used in civilian nuclear reactors, prized for its ability to undergo nuclear fission. Nuclear power, known for its high energy density, is a reliable and low-carbon energy source. Just 7 grams of enriched uranium can produce as much energy as one ton of coal, the article noted. Nuclear plants operate with a capacity factor exceeding 92%, ensuring a stable and continuous power output, which is crucial for modern electricity grids. In terms of carbon emissions, nuclear energy is one of the cleanest, comparable to offshore wind and significantly cleaner than natural gas, as noted by the IPCC. The process of transforming uranium from a raw element in the ground into usable fuel is intricate and lengthy, involving mining, conversion, enrichment, and fuel fabrication. Each step in this value chain requires substantial infrastructure and specialized expertise, contributing to the industry's inability to swiftly respond to fluctuating price signals. Major catalysts are ushering in a commodity supercycle — a prolonged period where structural demand consistently outstrips supply capacity, necessitating significant market adjustments, the analyst said.[OWNERSHIP_CHART-6026] <a href="https://www.ad-hoc-news.de/boerse/news/ueberblick/the-ai-power-surge-how-tech-giants-are-fueling-a-uranium-renaissance/69043943" target="_blank" rel="noopener">According to a report by Ad Hoc News on January 4, 2026</a>, the investment appeal for uranium transcends the immediate demands of technology sectors, with market projections indicating a significant long-term supply challenge. Analysts predict a cumulative global shortfall of 200 million pounds of uranium by 2040, a scenario set against expectations that global nuclear power capacity may quadruple by 2050. <h2 style="text-align: center;">Ownership and Share Structure1</h2> Institutional and strategic holders account for roughly 55% of the share structure, retail approximately 40%, and management and insiders approximately 5%. President and CEO Jordan Trimble holds a 1.58% stake, and Director David Cates holds approximately 0.87%. Skyharbour has 212.1 million shares outstanding and a market capitalization of CA$102.87 million. Its 52-week trading range spans CA$0.28 to CA$0.66 per share. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>Skyharbour Resources Ltd. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.</li> <li>Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.</li> <li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a> 1. Ownership and Share Structure Information The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30886"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30886" width="0" height="0"> ( Companies Mentioned: SYH:TSX.V; SYHBF:OTCQX; SC1P:FSE, ) Wed, 01 Apr 2026 00:00:00 PST A Major Currency Event is Unfolding https://www.streetwisereports.com/article/2026/03/31/a-major-currency-event-if-unfolding.html Source: <a href="https://www.streetwisereports.com/article/2026/03/31/a-major-currency-event-if-unfolding.html?utm_medium=feed">Barry Dawes 03/31/2026</a> With Operation Epic Fury still on everyone's minds, Barry Dawes of Martin Place Securities shares his thoughts on the market and where currencies are headed.Epic Fury is still the focus and the implications are that a long war with boots on the ground will be endless and energy prices will strangle the world economy. But it probably won't run that way. There is another government working in Iran that let 10 tankers through the Strait of Hormuz. In addition, the UAE is moving to reclaim three islands after the November 1971 Seizure (or Occupation) of Abu Musa and the Greater and Lesser Tunbs. Change in control here could also change the control of the flow of tankers in the Strait. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633161643_1.png" alt="" width="600" height="370" /> The IRGC is now severely weakened and as an invading Terrorist government it is soon likely to be overthrown by the 55m Persians (60% of a 90million population). Rear guard actions from an ever-dwindling IRGC are likely to just fizzle out. No boots on the ground for this one. Treasury Secretary Bessent says >400m bbls of oil are available in floating and other storage to ease pressures. Oil was looking toppy in Friday's US markets, and although it is higher today in Asian trading, let's see where it settles overnight. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633161713_2.png" alt="" width="700" height="530" /> <h2 style="text-align: center;">Gold</h2> Still doesn't look like time for a reversal. Oversold, but the technicals for a reversal are not quite there. Did gold complete a `C' Wave as the end of the correction to mark the end of Wave 4? The gold bulls think so. So now off to wave 5 and a new high. This is now the most widely accepted view in the market. But if it does, it WILL then mark the end of this bull market. So that is probably not the most likely outcome. Do keep in mind it is just possible every rally will be sold into because so many late entrants in gold are underwater. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633161737_3.png" alt="" width="1000" height="491" /> So just let the markets tell us what the next move is. But also watch the currencies as well as noted below. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633161807_3.png" alt="" width="700" height="530" /> <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633161814_4.png" alt="" width="700" height="530" /> <h2 style="text-align: center;">Silver</h2> The silver squeeze doesn't seem to have eventuated. Silver and silver stocks are just having spike highs. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633161904_5.png" alt="" width="700" height="530" /> <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633161911_6.png" alt="" width="700" height="530" /> <h2 style="text-align: center;">Gold Stocks</h2> Spike highs here, too, in the long-term charts. It's hard to imagine new surges with the long-term so strongly overbought. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162001_7.png" alt="" width="700" height="530" /> <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162009_8.png" alt="" width="409" height="331" /> <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162016_9.png" alt="" width="700" height="530" /> These indices need to turn up quickly, or they will become continuation patterns and not reversal patterns. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162112_1.png" alt="" width="700" height="530" /> <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162119_2.png" alt="" width="700" height="530" /> <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162129_3.png" alt="" width="700" height="530" /> <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162138_4.png" alt="" width="700" height="530" /> Individual stocks aren't showing constructive reversal patterns. No high volume in the right places. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162234_5.png" alt="" width="700" height="530" /> <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162240_6.png" alt="" width="700" height="530" /> <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162248_7.png" alt="" width="700" height="530" /> <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162254_8.png" alt="" width="700" height="530" /> <h2 style="text-align: center;">ASX Gold Index</h2> The ASX Gold Index has 55 stocks again. Last time it had this many was in 2011. Was down to sub 20 in 2014. There was a big volume and value on March 20, but less in the low of March 23, and steadily lower each day since. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162321_9.png" alt="" width="1000" height="456" /> Peak volume was on March 20, but the low was on March 23. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162339_10.png" alt="" width="1000" height="293" /> Even more concerning is that transactions from October 1, 2025, to February 28, 2026, totalling AU$91.6bn and 33.3bn shares are all in losing positions at today's price level. This is a major overhang. Volume needs to pick up soon. Except TOK, of course. <h2 style="text-align: center;">Currencies</h2> European currencies and the Yen are heading much lower. These falling currencies won't help the gold bull case. Energy importers are going to suffer. The Yen is very close to the mid-2024 low, and after that, it is just a 25% fall in a short time. The Euro failed to break above its 50 year uptrend and has turned down to fall below parity and probably thereafter to its demise. NATO is indeed a paper tiger, and Western Europe will be left defenceless. High taxes, big debts, no oil or gas, mass immigration, and tyrannical bureaucrats in charge. The EU can't possibly hold together for much longer. The GB Pound failed to break long-term resistance and is now heading down. The SF also failed to break higher and regain strength above its 50-year uptrend. Upsloping wedge says heading back to parity. Stupidity and arrogance are leaving Western Europe increasingly irrelevant to the world economy of the decades ahead. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162436_1.png" alt="" width="700" height="530" /> <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162442_2.png" alt="" width="700" height="530" /> <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162448_3.png" alt="" width="700" height="530" /> <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162453_4.png" alt="" width="700" height="530" /> <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162508_5.png" alt="" width="700" height="530" /> <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162514_6.png" alt="" width="700" height="530" /> <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162520_7.png" alt="" width="700" height="530" /> <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162526_8.png" alt="" width="700" height="530" /> And there are some other currencies to watch. This one does not look good either. It could break US$0.70. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162624_1.png" alt="" /> <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162650_2.png" alt="" width="700" height="530" /> The Chinese Yuan looks vulnerable to a downdraft as well. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162717_3.png" alt="" width="700" height="530" /> <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162723_4.png" alt="" width="700" height="530" /> <h2 style="text-align: center;">US Dollar</h2> <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162740_5.png" alt="" width="750" height="530" /> <h2 style="text-align: center;">The Australian Dollar</h2> The AU$ has made important breakouts many other currencies. These are very positive factors in the outlook for the next decade. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162822_6.png" alt="" width="693" height="547" /> <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162829_7.png" alt="" width="434" height="322" /> <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162837_8.png" alt="" width="700" height="530" /> <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633162851_9.png" alt="" width="700" height="530" /> Head the markets. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Pan American Silver Corp., Barrick Mining Corp., and Agnico Eagle Mines Ltd.</li> <li>Barry Dawes: I, or members of my immediate household or family, own securities of: TOK. My company has a financial relationship with: None. My company has purchased stocks mentioned in this article for my management clients: None. I determined which companies would be included in this article based on my research and understanding of the sector.</li> <li>Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy. </li> <li> This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting" target="_blank" rel="noopener">here.</a> <img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30870"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30870" width="0" height="0"> Tue, 31 Mar 2026 00:00:00 PST Ngaere-2 Well Beats Expectations, Tariki Gas Storage Offer Imminent https://www.streetwisereports.com/article/2026/03/31/ngaere-2-well-beats-expectations-tariki-gas-storage-offer-imminent.html Source: <a href="https://www.streetwisereports.com/article/2026/03/31/ngaere-2-well-beats-expectations-tariki-gas-storage-offer-imminent.html?utm_medium=feed">Stephane Foucaud 03/31/2026</a> Auctus Advisors raised its target price on New Zealand Energy Corp. (NZ:TSX.V; NZERF:OTCQX) after the Ngaere-2 well recompletion delivered 300 bbl/d, exceeding expectations. <hr class="border-border-200 border-t-0.5 my-3 mx-1.5" /> New Zealand Energy Corp. (NZ:TSX.V; NZERF:OTCQX) received an updated research note from Auctus Advisors LLP on March 31, 2026, with analyst Stephane Foucaud raising his target price to CA$1.45 per share from CA$1.35, implying a total return of approximately 254% from the current share price. The upgrade reflects materially better-than-expected production performance from the Ngaere-2 well recompletion, which is delivering a stable, unstimulated oil rate of approximately 300 barrels per day (bbl/d) from 36 metres of perforated Mount Messenger pay. <h2 class="font-claude-response-body break-words whitespace-normal leading-[1.7]" style="text-align: center;">Recent Operational Developments</h2> The Ngaere-2 result marks the third successful recompletion in the Mount Messenger formation. Additional reservoir intervals remain to be perforated, and the encountered reservoir is interpreted as part of a new pool located across a fault approximately 3 kilometres north of Ngaere-1. In early March, the company separately confirmed that the Ngaere-1 recompletion — targeting a previously bypassed interval — achieved approximately 120 bbl/d of oil, consistent with prior guidance. Gross field production is currently constrained to approximately 700–800 bbl/d due to limited surface handling capacity. The company is evaluating debottlenecking options, and the installation of downhole pumps is expected to help sustain plateau rates. NZE's partner, Monumental Energy, believes gross output of approximately 1,000 bbl/d is achievable. Six further wells have already been permitted, with several candidates under review for workovers over the next three months. <h2 class="font-claude-response-body break-words whitespace-normal leading-[1.7]" style="text-align: center;">Near-Term Catalysts</h2> Key upcoming catalysts identified by Foucaud include the Tariki-5 flow test and an anticipated indicative offer from Genesis Energy for the Tariki gas-storage project. Auctus maintains a risk valuation of approximately US$52 million net to NZE for the gas-storage asset, equivalent to CA$1.26 per share. The valuation continues to apply a 50% discount to the unrisked value of the Tariki gas-storage project, benchmarked against the 2017 sale of the Ahuroa facility, and assumes 20 billion cubic feet (bcf) of storage capacity at Tariki versus 11 bcf at Ahuroa. <h2 class="font-claude-response-body break-words whitespace-normal leading-[1.7]" style="text-align: center;">Valuation and Financial Metrics</h2> Auctus calculates a total Risked Net Asset Value (ReNAV) of CA$1.46 per share and an Unrisked NAV of CA$4.07 per share. The NAV breakdown attributes CA$1.19 per share (risked) to the New Zealand Tariki Gas Storage project, which represents 82% of the total upside. The existing New Zealand production profile contributes CA$0.17 per share (risked), while Mount Messenger upside — carrying 0.5 mmboe of working interest resources at a 60% chance of success — adds a further CA$0.04 per share on a risked basis. On a financial basis, Auctus forecasts 2026 crude oil production of 367 bbl/d, rising to 291 bbl/d in 2027 and 193 bbl/d in 2028, against an assumed Brent price of US$76.25/bbl in 2026. The company is expected to generate positive cash flow from operations of US$2 million in 2026, improving from a loss of US$1 million in 2025. The 2026 enterprise value per 2P barrel of oil equivalent is estimated at US$40,202/boe. Net debt is forecast to move to a net cash position of US$3 million by end-2026. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a> Disclosures for Auctus Advisors, New Zealand Energy Corp., March 31, 2026 Copyright and Risk Warnings New Zealand Energy Inc. (“NZE” or the “Company”) is a corporate client of Auctus Advisors LLP (“Auctus”). Auctus receives, and has received in the past 12 months, compensation for providing corporate broking and/or investment banking services to the Company, including the publication and dissemination of marketing material from time to time. MiFID II Disclosures This document, being paid for by a corporate issuer, is believed by Auctus to be an ‘acceptable minor non-monetary benefit’ as set out in Article 12 (3) of the Commission Delegated Act C(2016) 2031 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. It is produced solely in support of our corporate broking and corporate finance business. Auctus does not offer a secondary execution service in the UK. This note is a marketing communication and NOT independent research. As such, it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and this note is NOT subject to the prohibition on dealing ahead of the dissemination of investment research. Author The research analyst who prepared this research report was Stephane Foucaud, a partner of Auctus. Not an offer to buy or sell Under no circumstances is this note to be construed to be an offer to buy or sell or deal in any security and/or derivative instruments. It is not an initiation or an inducement to engage in investment activity under section 21 of the Financial Services and Markets Act 2000. Note prepared in good faith and in reliance on publicly available information Comments made in this note have been arrived at in good faith and are based, at least in part, on current public information that Auctus considers reliable, but which it does not represent to be accurate or complete, and it should not be relied on as such. The information, opinions, forecasts and estimates contained in this document are current as of the date of this document and are subject to change without prior notification. No representation or warranty either actual or implied is made as to the accuracy, precision, completeness or correctness of the statements, opinions and judgements contained in this document. Auctus’ and related interests The persons who produced this note may be partners, employees and/or associates of Auctus. Auctus and/or its employees and/or partners and associates may or may not hold shares, warrants, options, other derivative instruments or other financial interests in the Company and reserve the right to acquire, hold or dispose of such positions in the future and without prior notification to the Company or any other person. Information purposes only This document is intended to be for background information purposes only and should be treated as such. This note is furnished on the basis and understanding that Auctus is under no responsibility or liability whatsoever in respect thereof, whether to the Company or any other person. Investment Risk Warning The value of any potential investment made in relation to companies mentioned in this document may rise or fall and sums realised may be less than those originally invested. Any reference to past performance should not be construed as being a guide to future performance. Investment in small companies, and especially upstream oil & gas companies, carries a high degree of risk and investment in the companies or commodities mentioned in this document may be affected by related currency variations. Changes in the pricing of related currencies and or commodities mentioned in this document may have an adverse effect on the value, price or income of the investment. Distribution This document is directed at persons having professional experience in matters relating to investments to whom Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 ("FPO") applies, or high net worth organisations to whom Article 49 of the FPO applies. The investment or investment activity to which this communication relates is available only to such persons and other persons to whom this communication may lawfully be made (“relevant persons”) and will be engaged in only with such persons. This Document must not be acted upon or relied upon by persons who are not relevant persons. Without limiting the foregoing, this note may not be distributed to any persons (or groups of persons), to whom such distribution would contravene the UK Financial Services and Markets Act 2000 or would constitute a contravention of the corresponding statute or statutory instrument in any other jurisdiction. Disclaimer This note has been forwarded to you solely for information purposes only and should not be considered as an offer or solicitation of an offer to sell, buy or subscribe to any securities or any derivative instrument or any other rights pertaining thereto (“financial instruments”). This note is intended for use by professional and business investors only. This note may not be reproduced without the prior written consent of Auctus. The information and opinions expressed in this note have been compiled from sources believed to be reliable but, neither Auctus, nor any of its partners, officers, or employees accept liability from any loss arising from the use hereof or makes any representations as to its accuracy and completeness. Any opinions, forecasts or estimates herein constitute a judgement as at the date of this note. There can be no assurance that future results or events will be consistent with any such opinions, forecasts or estimates. Past performance should not be taken as an indication or guarantee of future performance, and no representation or warranty, express or implied is made regarding future performance. This information is subject to change without notice, its accuracy is not guaranteed, it may be incomplete or condensed and it may not contain all material information concerning the company and its subsidiaries. Auctus is not agreeing to nor is it required to update the opinions, forecasts or estimates contained herein. The value of any securities or financial instruments mentioned in this note can fall as well as rise. Foreign currency denominated securities and financial instruments are subject to fluctuations in exchange rates that may have a positive or adverse effect on the value, price or income of such securities or financial instruments. Certain transactions, including those involving futures, options and other derivative instruments, can give rise to substantial risk and are not suitable for all investors. This note does not have regard to the specific instrument objectives, financial situation and the particular needs of any specific person who may receive this note. Auctus (or its partners, officers or employees) may, to the extent permitted by law, own or have a position in the securities or financial instruments (including derivative instruments or any other rights pertaining thereto) of the Company or any related or other company referred to herein, and may add to or dispose of any such position or may make a market or act as principle in any transaction in such securities or financial instruments. Partners of Auctus may also be directors of the Company or any other of the companies mentioned in this note. Auctus may, from time to time, provide or solicit investment banking or other financial services to, for or from the Company or any other company referred to herein. Auctus (or its partners, officers or employees) may, to the extent permitted by law, act upon or use the information or opinions presented herein, or research or analysis on which they are based prior to the material being published. Further Disclosures for the United Kingdom This note has been issued by Auctus Advisors LLP, which is authorised and regulated by the Financial Conduct Authority. This note is not intended for use by, or distribution to, US corporations that do not meet the definition of a major US institutional investor in the United States or for use by any citizen or resident of the United States. This publication is confidential and may not be reproduced in whole or in part or disclosed to another party, without the prior written consent of Auctus. Securities referred to in this note may not be eligible for sale in those jurisdictions where Auctus is not authorised or permitted by local law to do so. In particular, Auctus does not permit the distribution or redistribution of this note to non-professional investors or other persons to whom disclosure would contravene local securities laws. Auctus expressly disclaims and will not be held responsible in any way, for third parties who affect such redistribution. © Auctus Advisors LLP All rights reserved 2026<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30869"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30869" width="0" height="0"> ( Companies Mentioned: NZ:TSX.V; NZERF:OTCQX, ) Tue, 31 Mar 2026 00:00:00 PST Uranium Company Advances Major Supply Breakthrough via Largest Resource in US https://www.streetwisereports.com/article/2026/03/30/uranium-company-advances-major-supply-breakthrough-via-largest-resource-in-u-s.html Source: <a href="https://www.streetwisereports.com/article/2026/03/30/uranium-company-advances-major-supply-breakthrough-via-largest-resource-in-u-s.html?utm_medium=feed">Streetwise Reports 03/30/2026</a> Uranium Energy Corp. (UEC:NYSE AMERICAN) restarts Wyoming mine, pursues conversion facility, and scales U.S. production assets amid domestic uranium shortage.<a href="https://www.stockwatch.com/News/Item/U-z9677279-U!UEC-20260324/U/UEC" target="_blank" rel="noopener">Uranium Energy Corp. (UEC:NYSE AMERICAN) "has announced</a> that it has crossed the line from [uranium] developer to producer, restarting the Christensen Ranch ISR mine in Wyoming and acquiring Rio Tinto's ( RIO:NYSE; RIO:ASX; RIO:LSE; RTNTF:OTCMKTS) Sweetwater mill to expand licensed capacity to 12.1 million pounds annually — making it the largest U.S. uranium company by potential production." At the Christensen Ranch Project, Uranium Energy has added three new header houses in wellfield 11 and awaits approval for another. Three more header houses are currently being built in Wellfield 12 and the 10-extension. In Texas, the company is waiting for final environmental approval to start operations at the Burke Hollow mine. Uranium Energy hopes to position itself as America's only vertically integrated nuclear fuel supplier that can handle material from mining to conversion. <a href="https://www.prnewswire.com/news-releases/uranium-energy-corp-receives-approval-for-expanded-production-at-christensen-ranch-and-secures-nrc-docketing-for-us-conversion-facility-302721755.html" target="_blank" rel="noopener">The company obtained a Docket Number from the U.S. Nuclear Regulatory Commission</a> to build a uranium conversion facility under its subsidiary, Uranium Refining & Conversion Corp (UR&C). A March 23, 2026, article from PRNewswire.com stated, "The LOI outlines the Company's plan to develop a state-of-the-art American uranium refining and conversion facility, building on nearly two years of pre-feasibility and planning." <a href="https://www.uraniumenergy.com/about/" target="_blank" rel="noopener">Uranium Energy Corp. considers itself America's leading, fastest-growing uranium mining company</a> due to the resumption of production at its Wyoming projects. While developing multiple assets all over the world, Uranium Energy produces via In-Situ Recovery (ISR) and has the largest S-K 1300 compliant ISR resource base in the U.S., while also holding a large asset in the Athabasca Basin in Canada. Uranium Energy is already seeing cash flow, while many of its peers are still in development. <a href="https://www.stockwatch.com/News/Item/U-z9676971-U!UEC-20260323/U/UEC" target="_blank" rel="noopener">The company currently has no debt and holds over US$210 million in cash</a>. <h2 style="text-align: center;">The Uranium Market Is Tight</h2> <a href="https://www.stockwatch.com/News/Item/U-z9677279-U!UEC-20260324/U/UEC" target="_blank" rel="noopener">A March 24, 2026, article from USA News Group reported</a>, "Here is something that should bother every investor paying attention to the energy transition: the United States operates the largest fleet of nuclear reactors on earth — 93 of them — and it cannot fuel a single one with domestically sourced uranium." The article went on to note that, with no true domestic production capabilities, spot uranium is approaching US$92 per pound. The article went on to say, "The nuclear fuel supply chain is being rebuilt in real time. Governments are writing checks. Producers are scaling. Reactor developers are breaking ground. But all of it — every reactor, every SMR, every AI-powered data center that needs baseload nuclear power — will require uranium. And the country that needs it most has almost none of its own coming out of the ground." "The United States faces particular challenges, having shown limited urgency in securing African supply relationships while China establishes stronger commercial and diplomatic ties. The potential exemption of Russian enrichment from sanctions, similar to allowances made for Russian oil, could indicate growing supply pressure facing Western markets," <a href="https://www.cruxinvestor.com/posts/uranium-market-misconceptions-and-equity-repricing-what-producer-rerating-may-mean-for-the-next-phase-of-investment" target="_blank" rel="noopener">said a March 25, 2026, article by </a><a href="https://www.cruxinvestor.com/posts/uranium-market-misconceptions-and-equity-repricing-what-producer-rerating-may-mean-for-the-next-phase-of-investment" target="_blank" rel="noopener">Cruxinvestor</a>. This lack of domestic sourcing presents unique difficulties for U.S. uranium consumers. While uranium is experiencing a bull market, analysts have cautioned investors that individual companies need vetting. The Cruxinvestor article also said, "Current market volatility presents . . . buying opportunities, but success requires careful individual company analysis rather than broad sector exposure. The opacity of uranium markets necessitates conviction-based investing with verification of information sources." On March 17, 2026, Nick Giambruno of The International Man wrote, "Historically, uranium bull markets haven't been driven by a single event, but by a series of small supply disruptions combined with steadily falling inventories. That same dynamic is playing out again, with utility contracting rates now rising sharply after a decade of under-replacement, setting the stage for continued tightening in the market. Once utilities realize the deficit isn't temporary but could last decades, the rational response will be to lock in very long-term contracts—10 to 20 years—at whatever price is available." <h2 style="text-align: center;">Analysts Call Out Future Supply Needs</h2> <a href="https://thegoldadvisor.com/paydirt-prospector/newsletters/strong-updates-from-6-stocks-as-volatility-creates-opportunity/#ue" target="_blank" rel="noopener">Daniel Flynn and Jeff Clark of The Gold Advisor gave opinions on Uranium Energy Corp. on March 26, 2026</a>."We like Uranium Energy Corp. as one of the strongest go-to plays on growing domestic U.S. uranium demand . . . the real upside lies is in the amount of new production the company is lining up across assets in Texas and Wyoming." The company has three additional header houses currently being built at its Christensen Ranch project in Wyoming and is seeking approval to build three more. "UEC produced 45,743 pounds of uranium concentrate from Christensen Ranch in its last quarter, with just two header houses active. So, the addition of six more has the potential to multiply output," noted Flynn and Clark [OWNERSHIP_CHART-402] Flynn and Clark went on to write, "UEC is up 3% since the results. However, shares remain down 36% since the end of January—which, in our view, makes this a . . . BUY . . . UEC combines near-term production growth with longer-term strategic upside in the U.S. nuclear fuel market. That gives investors exposure to both current prices and future supply tightness." <h2 style="text-align: center;">Catalysts</h2> <a href="https://www.uraniumenergy.com/_resources/presentations/Presentation-Fiscal-2026-Second-Quarter-Results-Mar-10-2026.pdf?v=033002" target="_blank" rel="noopener">The company's investor presentation</a> lists US$818 million in liquid assets, its lack of debt, and its ownership of the largest uranium resource base in the U.S. as big growth catalysts in 2026. With the Burke Hollow mine ready for operation upon final approval and UR&C fully funded, Uranium Energy is planning major expansions of ISR production in both Wyoming and Texas. Its Roughrider project is undergoing a pre-feasibility study, while its Sweetwater Hub-and-Spoke project is undergoing further development. <h2 style="text-align: center;">Ownership & Share Structure1</h2> Uranium Energy Corp. has a market cap of US$6.4 billion, with 490.22 million shares outstanding. The company's 52-week spread is US$3.85-US$20.34. Institutions own 79.59% of shares, while Management & Insiders own 1.77%. The remaining 20.41% of shares are Retail. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Rio Tinto Plc.</li> <li>Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. </li> <li> This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a> 1. Ownership and Share Structure Information The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30862"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30862" width="0" height="0"> ( Companies Mentioned: UEC:NYSE AMERICAN, ) Mon, 30 Mar 2026 00:00:00 PST Trumped! https://www.streetwisereports.com/article/2026/03/30/trumped.html Source: <a href="https://www.streetwisereports.com/article/2026/03/30/trumped.html?utm_medium=feed">Michael Ballanger 03/30/2026</a> Michael Ballanger of GGM Advisory Inc. shares his thoughts on the current state of the market, and shares one copper stock on his list.<img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633072246_1.png" alt="" width="624" height="278" /> Judging from the mood of the colour commentators on CNBC on the final trading day of the week and final Friday of the month and quarter, I would say that sentiment has taken a distinct turn for the worse and with it, Wall Street's love affair with their president. The MAGA narrative that has seen perma-bull traders buying every dip imaginable in what is undoubtedly an overpriced market was founded upon the concept that the president, obsessed with stock price performance as a measure of his presidentially stewardship, will always favour stocks over any actions either domestic or foreign that might endanger stocks. Herein lies the genus of the "Taco Trade", as in the "Trump Always Chickens Out" trade. This week, the most powerful man in the Western World tried valiantly to thwart the rampaging oil bulls by first posting on Truth Social last weekend that the U.S. was engaged in "productive talks" with Iran that would lead to a cessation in hostilities. Alas, after a mere single session of panicky oil trade liquidations and even-more-panicky stock market short covering, markets called his bluff after it became apparent that the Iranians have rejected any and all overtures related to a ceasefire and definitely no concessions regarding the Strait of Hormuz. With stocks resuming the downtrend and oil resuming its uptrend, the "Taco Trade" was a definite "fail" as there was nothing Trump could do to arrest the slide in the Mag Seven as they all got summarily trounced going into the last weekly session and approaching month-end. <img class="float_left" src="https://www.theaureport.com/images/auto_up/202633072327_2.jpg" alt="" width="299" height="168" />If you recall the period immediately after Trump was re-elected in 2024, stocks went on an immediate "Make America Great Again" rampage with the DJIA and S&P making record highs and there was nothing the Teflon Don could do wrong until he started reading too many of his own press clippings and started to threaten his allies with tariffs. That was when the markets all started to unravel and when coupled with his efforts (with Elon Musk as attack dog) to cut out all of the effluent from the Washington pork parade, it was all "straight south" for most equities until he woke up in late March and saw that his popularity ratings were dropping like drawers at a frat party. Horrified at the crashing NASDAQ, Trump finally recanted, going full "TACO trade" by rescinding and/or postponing most of the executive orders cancelling government departments and/or tariffs. It then and only then that stocks caught a foothold and staged one of the most breathtaking reversals in history. Last weekend, the President tried it again with those "productive talks" antics on Sunday such that by the time stocks opened last Monday, every business newscast was echoing the phrase "TACO trade" as this historic victory against the Iranian nation was a fait accompli. All week long, he was proposing farm subsidy proposals in photo-op appearances to win back the narrative but by the end of the week, traders has fully lost all hope and faith and scrambled to get portfolios "DE-RISKED" by the weekend. However, of note were a couple of interesting developments. Gold and silver, locked in the same death spiral as stocks since the war began on February 28, decided to decouple from their inverse relationship to oil as well as their perfectly-correlated relationship with stocks and headed north as oil severed its month-long lockstep with equities. The CBOE Volatility Index (VIX:US) closed at 31.05 which is important because spikes in volatility above 30 have historically been a signal to traders that the declines in stocks have been overdone. The S&P/TSX Composite closed up as did the TSX Venture Exchange which was encouraging because the Canadian indices are heavily-weighted in resources, particularly the TSXV so for subscribers to this publication, that news is very good indeed. As I wrote to subscribers in the Friday pre-opening alert: "One caveat to shorting this market is the possibility that the declines in March will force rebalancing of portfolio allocations. Managers adhering to the 60-40 model (60% stocks / 40% bonds) have seen a fairly sharp drop in the 60% portion thanks to the turmoil in the Middle East. As a result, they may need to swap some of the 40% portion now at perhaps 45-50% bonds — for stocks — now at perhaps 50-55% — in order to get back to the model allocations. Some estimates have up to $70 billion of buying lined up by the 60-40 gang as part of this rebalancing. That buying will start next week." <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633072341_3.png" alt="" width="624" height="278" /> While the move in the VIX is not particularly predictive, the decoupling by gold and silver was very predictive because while gold and silver have been used historically as hedges against equity market drawdowns, the action in gold and stocks reeked of deleveraging. Portfolios teetering on the brink of destruction due to excessive leverage used their gold and silver positions to reduce overall leverage in their portfolios so as stocks declined, gold and silver (and the miners) were liquidated to reduce leverage. With gold and silver (and the miners) all rallying today against new 2026 lows in the S&P and NASDAQ, it tells me that equities are ready for a rally, even if it turns out to be your classic "meatball rally" that lures in all the suckers that blew out positions this week. I have been a "closet bear" on U.S stocks and have been punished mercilessly in my dogged insistence that Tesla Inc. (TSLA:NASDAQ) be viewed not as a robotics company or an "AI" company but rather as an "EV" company, as they had been trumpeting all during the rise from $25 back in 2020. In fact, they decided to change the Tesla narrative shortly after Elon was displaced by Oracle Corp. (ORCL:NYSE) Chairman Larry Ellison on September 28th as "the world's richest man". Within weeks, Elon went on a road trip around the world touting the robotics and "AI" transition for TSLA:US which took the stock (and Elon's net worth) to record highs. Fast forward to March 2026 where the "AI" stocks were trashed violently right up until the final bell on the final trading day. With the new TSLA:US narrative now "AI" and robotics, what is the pivot to which Elon turns? Back to electric vehicles where China's BYD is eating their lunch? I remain short TSLA:US via the T-Rex 2X's Inverse Daily Tesla ETF (TSLZ:US) where, despite averaging down in late 2025, I am still underwater by a paltry 3% (after being cyanotic in December down 45%) but I have told friends, colleagues, and subscribers that I will not cover the TSLZ:US position until I see Tesla Inc. trading under $100 per share. Call it emotional; call it irrational; call it "my decision" and may the chips fall where they choose. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633072412_4.png" alt="" width="624" height="375" /> Apologies for getting distracted on failed electric vehicle manufacturers masquerading as "AI" companies, I turned cautiously bullish this week on markets after liquidating most of my energy names and looking for a tradable rally in stocks to commence next week, led not by the same names of last year post-Liberation Day but by the commodity producers including copper, nickel and the precious metals. This will not be the "TACO Trade" because markets no longer trust the statements coming out of the White House. It will be an oversold rally in most sectors but the beginning of the "C-Wave" in the miners, which is typically and historically a show-stopper. As for the precious metals, I have been using the $4,400 level for April gold as my re-test level of support since the $5,200 level but after knifing down through $4,400 during the March 22nd crash to the 200-dma at $4,127 a week ago, it has since recovered back above $4,400. As I wrote earlier in this missive, the cessation of selling pressure on Friday was a surefire indication that once again, gold served its purpose of anchoring portfolios against severe drawdowns which means that the de-leveraging process has largely run its course. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633072438_5.png" alt="" width="624" height="375" /> With the drop to the 200-dma, gold briefly dipped into "oversold" category for a very brief moment which I now view as a "successful re-test" setting us up for a tradable rally and possible long-term bottom. Furthermore, downside risk should be limited to the uptrend line drawn off the October 2023 lows around $1,800 which sits around $3,750. Below that, I will take a ball-and-chain hammer to my forehead and chase my dog into the root cellar, an eventuality I consider highly unlikely. <h2 style="text-align: center;">Copper</h2> Copper has been undergoing a correction not unlike the one we got in both gold, silver, and the broad equity markets but like April gold, May copper stopped on a veritable dime at the 200-dma at $5.24 and has since moved higher. There is always a point where panicky sellers are replaced with opportunistic buyers and that is what the watershed event was on March 22nd. The last of the forced sellers were liquidated and the cash buyers emerged victorious with the one metal whose fundamental are markedly better than any other metal on the board and is now set to advance to test the January high at $6.6415/lb. With great relief verging on a near out-of-body experience of both joy and fulfillment, I bought back the 1,000 share position in the best-run company on the planet — Freeport-McMoRan Inc. (FCX:NYSE) — at $52.30 after being out of it since acting like a rank amateur and selling it in a fit after the Grasberg Mine accident last summer. I also added an initial tranche of the June calls on the expectation that I will see now record all-time highs by then above $70. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633072520_7.png" alt="" width="624" height="472" /> Despite all the furor over the Middle East and Private Credit in the month of March, I was blessed with the unique opportunity of watching all the copper stocks crash as the spectre of a 1973-1974 recession rushed in on the heels of $100 oil. I also added to Fitzroy Minerals Inc. (FTZ:TSX.V; FTZFF:OTCQB)whose management group closed a CAD $21 million financing on March 23, the day after copper bottomed. It was an enormous testimonial to that management group that they closed it at $.50 per unit with the stock closing at CAD $.385 that day. Institutional buyers from outside North America cared not about the near-term weakness and instead focused on the near-term production potential that is definitely in the cards for FTZ/FTZFF that involves minimal CAPEX requirements and a deep-pocketed partner, Pucobre S.A. (2nd largest copper producer in Chile behind Codleco). <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633072554_8.png" alt="" width="624" height="570" /> The week ended with headlines all pointing to breakdowns in the bond market with yields rising to levels approaching the death-defying height of 5% for the 30-year and 4.5% for the 10-year (U.S. Treasuries). At the end of the day, the bond markets around the globe are many multiples the size of the global stock markets with the global currency markets dwarfing them both. I watch with morbid fascination when the debate in the court of social media devolves into verbal jousting over "Gold versus Bitcoin" or "AI versus Robotics" or "Stocks versus Bonds" when the real debate should be firmly squared around the topic of DEBT. When "chief investment strategists" at high-profile boutique brokerages write comprehensive articles on why "fiat currencies" are the only system of trade settlement available to the world without mentioning as much as one word about the erosion of purchasing power of the American currency since 1914, it absolutely boggles the mind. Stocks have been declining due to fear over the inflationary impact of $100 oil which explains the reason the bond vigilantes have taken bond yields sharply higher. If rising energy costs are expected to throw the world economy into a recession, it is instructive to examine the reason yields are not declining in sympathy with lower global GDP. The reason is somewhat more insidious than simply "bonds fearing inflation". It revolves not around the idea of one's "return on investment" but rather the "return OF investment, as in one's principal. They estimate that it costs the U.S. government $1 billion per day to fund the current war effort in Iran so with interest payments on debt now exceeding the U.S. defense budget, how much longer can a technically insolvent country maintain its role as global policeman? In order to survive, either the U.S. government must defend the dollar and in order to do that, they will need to attract buyers of their Treasury Bonds. They can do that in only one manner – increase yields – and if they do that the debt servicing costs become unmanageable. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202633072646_9.png" alt="" width="624" height="278" /> If they cannot get buyers for Treasuries, then investors worry about the "return OF investment" and they sell dollars. Either way, the recent rally in the dollar is going to meet a wall of resistance above par creating a potential tailwind for commodities, including copper and oil, with honourable mention to the precious metals. As the year rolls on, investors would be well-advised to carefully watch yields and the dollar as a failure to do so could result in portfolios failing to benefit from the "TACO Trade" but rather impudently pummelled from being "Trump-ed"… <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Tesla Inc. and Fitzroy Minerals Inc. </li> <li>Michael Ballanger: I, or members of my immediate household or family, own securities of: Freeport-McMoRan and Fitzroy Minerals. My company has a financial relationship with: None. My company has purchased stocks mentioned in this article for my management clients: None. I determined which companies would be included in this article based on my research and understanding of the sector.</li> <li>Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy. </li> <li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting" target="_blank" rel="noopener">here.</a> Michael Ballanger Disclosures This letter makes no guarantee or warranty on the accuracy or completeness of the data provided. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. This letter represents my views and replicates trades that I am making but nothing more than that. Always consult your registered advisor to assist you with your investments. I accept no liability for any loss arising from the use of the data contained on this letter. Options and junior mining stocks contain a high level of risk that may result in the loss of part or all invested capital and therefore are suitable for experienced and professional investors and traders only. One should be familiar with the risks involved in junior mining and options trading and we recommend consulting a financial adviser if you feel you do not understand the risks involved. <img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30861"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30861" width="0" height="0"> Mon, 30 Mar 2026 00:00:00 PST Energy Co. Begins KW1X Production Testing in Namibia: Six Zones, 346 MMbbl Upside and a 349% Target Return https://www.streetwisereports.com/article/2026/03/30/energy-co-begins-kw1x-production-testing-in-namibia-six-zones-346-mmbbl-upside-and-a-349-target-return.html Source: <a href="https://www.streetwisereports.com/article/2026/03/30/energy-co-begins-kw1x-production-testing-in-namibia-six-zones-346-mmbbl-upside-and-a-349-target-return.html?utm_medium=feed">Bill Newman 03/30/2026</a> Research Capital reaffirmed its rating and target on Reconnaissance Energy Africa Ltd. (RECO:TSXV; RECAF:OTCQX; 0XD:FSE) as production testing kicked off at the KW1X well in Namibia.Research Capital Corporation is maintaining its Speculative Buy rating and CA$4.40 target price on <a href="https://www.streetwisereports.com/pub/co/10875?utm_medium=feed" target="_blank" rel="noopener">Reconnaissance Energy Africa Ltd. (RECO:TSXV; RECAF:OTCQX; 0XD:FSE)</a>, following the company's announcement that production testing has commenced at the Kavango West 1X ("KW1X") discovery well in Namibia. With shares currently trading at CA$0.98, the target implies a projected return of approximately 349%. The CA$4.40 target reflects the combined risked valuations of the KW1X prospect and the Loba Oil Field in Gabon. <h2 class="font-claude-response-body break-words whitespace-normal leading-[1.7]" style="text-align: center;">KW1X Production Testing Underway</h2> ReconAfrica has commenced production testing operations at KW1X, with all required permits secured, crews mobilized, and both Halliburton and Schlumberger contracted to support the program. The company plans to test six discrete zones — three in the Huttenberg formation and three in the deeper Elandshoek formation — across a combined 345 metres (1,132 feet) of prospective interval. Updated petrophysical analysis has increased the estimated net hydrocarbon pay in the Huttenberg formation to 75 metres, up from the previously disclosed 64 metres. The testing program is expected to take approximately four to six weeks and is designed to determine hydrocarbon phase, reservoir deliverability, and pressure characteristics — all factors critical to establishing commerciality. Both formations have demonstrated strong hydrocarbon indications. The Huttenberg contains multiple stacked reservoir intervals, while the Elandshoek appears to be a thick, fractured carbonate system with widespread gas shows and hydrocarbon fluorescence. <h2 class="font-claude-response-body break-words whitespace-normal leading-[1.7]" style="text-align: center;">Why KW1X Matters</h2> The analyst describes the KW1X well as a potential company-maker, targeting a large structural closure with unrisked recoverable resources of 346 MMbbl (241 MMbbl net). A successful outcome could unlock resource potential not only across the 19 prospects and four leads already identified in Namibia, but also across the broader 6.3 million-acre PEL 73 licence (70% working interest) — where seismic coverage remains limited — as well as the 5.2 million-acre Angola MOU area (80% working interest). The report notes that with six zones to be tested, the company has multiple opportunities to demonstrate productive capacity, which may improve the overall probability of success. <h2 class="font-claude-response-body break-words whitespace-normal leading-[1.7]" style="text-align: center;">Gabon Asset Adds Longer-Term Upside</h2> In September 2025, ReconAfrica signed a Production Sharing Contract for the offshore Ngulu Block in shallow waters offshore Gabon, holding a 55% operated working interest. The company is currently reprocessing 3D seismic over the block, including the Loba oil discovery, and plans to subsequently select an appraisal location for the Loba field. A third-party resource report covering more than 28 seismically identified prospects in the pre- and post-salt plays is expected by the end of 2026. The analyst views the Gabon asset as providing additional longer-term exploration upside that complements the company's Namibia-focused growth strategy. <h2 class="font-claude-response-body break-words whitespace-normal leading-[1.7]" style="text-align: center;">Risks</h2> The analyst highlights several key risks. On the exploration side, there is no assurance that production testing will result in sustained economic flow rates, and an uneconomic test outcome would have a materially adverse impact on the company's valuation and share price. A predominantly gas-prone result, while potentially still commercially viable, could also weigh on the stock near term due to longer development timelines and higher infrastructure requirements relative to a liquids-rich outcome. The report also flags financial risk, noting that ReconAfrica has no current production or cash flow and relies entirely on cash reserves to fund operations. Additional risks include activist and NGO opposition, commodity price exposure, foreign exchange sensitivity across multiple currencies, and political and regulatory risk across its operating jurisdictions of Namibia, Botswana, Angola, and Gabon. <h2 class="font-claude-response-body break-words whitespace-normal leading-[1.7]" style="text-align: center;">Outlook</h2> Newman maintains his Speculative Buy rating, noting that while drilling results to date are encouraging, production testing remains the critical next step to confirm commerciality. The upcoming KW1X test results represent the primary near-term catalyst, with the Gabon resource report serving as a secondary catalyst expected in Q4 2026. Research Capital also discloses that it has provided investment banking services to ReconAfrica within the past 12 months. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>Reconnaissance Energy Africa Ltd. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.</li> <li>As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Reconnaissance Energy Africa Ltd.</li> <li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting" target="_blank" rel="noopener">here.</a> Disclosures for Research Capital Corp., Reconnaissance Energy Africa Ltd., March 26, 2026 Analyst Certification I, Bill Newman, CFA, certify the views expressed in this report were formed by my review of relevant company data and industry investigation, and accurately reflect my opinion about the investment merits of the securities mentioned in the report. I also certify that my compensation is not related to specific recommendations or views expressed in this report. 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Member – Canadian Investor Protection Fund / membre – fonds canadien de protection des épargnants<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30859"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30859" width="0" height="0"> ( Companies Mentioned: RECO:TSXV;RECAF:OTCQX;0XD:FSE, ) Mon, 30 Mar 2026 00:00:00 PST Energy Tech Firm Advances Virtual Power Plant Breakthrough as AI Crunch Nears https://www.streetwisereports.com/article/2026/03/27/energy-tech-firm-advances-virtual-power-plant-breakthrough-as-ai-crunch-nears.html Source: <a href="https://www.streetwisereports.com/article/2026/03/27/energy-tech-firm-advances-virtual-power-plant-breakthrough-as-ai-crunch-nears.html?utm_medium=feed">Streetwise Reports 03/27/2026</a> Eguana Technologies Inc. (EGT:TSX.V; EGTYF:OTC) extends the maturity date of its loan with ITOCHU Corp. Read why one expert says Eguana is well-positioned.<a href="https://www.streetwisereports.com/pub/co/9069?utm_medium=feed" target="_blank" rel="noopener">Eguana Technologies Inc. (EGT:TSX.V; EGTYF:OTC)</a> has negotiated an extension of the maturity date for its unsecured convertible debenture with ITOCHU Corp., now set for April 30, <a href="https://www.stockwatch.com/News/Item/Z-C!EGT-3798290/C/EGT" target="_blank" rel="noopener">according to a March 23 release</a>. This extension provides Eguana additional time as it works closely with ITOCHU to develop a more permanent solution. As with previous extensions, this amendment encompasses all accrued interest. "We remain in active discussions with ITOCHU and expect to finalize a long-term solution within the second quarter, which we believe will have favorable balance sheet implications," said Eguana Chief Executive Officer Justin Holland. He also noted the productive and solution-focused collaboration between the North American and Tokyo-based teams, particularly as they advance utility channel opportunities towards implementation. Eguana is concurrently pushing forward with significant commercial and technical projects. These include completing more feeder improvement installations in Western Canada, a partnership with a leading Alberta electricity distributor to showcase the benefits of distributed energy storage, and a collaboration with Shadow Power to support third-party ownership models. Additionally, the company has successfully completed final testing for a virtual power plant (VPP) rollout in Northern California, anticipated in the upcoming months. Holland commented on the progress, "We've seen continued success validating our hardware and software platforms across multiple VPP (virtual power plant) environments in both the U.S. and Canada, and we expect this to translate into increased volumes through our utility channels over the balance of the year." These initiatives are crucial as Eguana aims for scaled deployment and enhanced financial stability in 2026. ITOCHU, with a history dating back to 1858 when founder Chubei Itoh began linen trading, has evolved over 150 years into a leading sogo shosha (conglomerate). It now operates approximately 110 bases across 63 countries, engaging in a wide range of businesses including domestic and international trade of various products and business investments globally. Based in Calgary, Alberta, Eguana Technologies designs and manufactures advanced energy storage systems for residential and commercial applications. With two decades of experience in grid edge power electronics for fuel cell, photovoltaic, and battery applications, Eguana delivers high-quality solutions from its manufacturing facilities in Europe, Australia, and North America. As a leading supplier of power controls for solar self-consumption, grid services, and demand charge applications at the grid edge, Eguana said it has deployed thousands of its proprietary energy storage systems in the European and North American markets. <h2 style="text-align: center;">Significant Revenue Growth Seen</h2> In December 2025, <a href="https://www.streetwisereports.com/article/2025/12/09/technology-firm-uncovers-excellent-310-revenue-gains-in-north-american-energy-market.html?utm_medium=feed" target="_blank" rel="noopener">Eguana reported its financial results</a> for the third quarter ending September 30, 2025, showcasing significant revenue growth. The company announced that its revenue for the year had reached CA$2.06 million, a substantial 310% increase from the same period in 2024. For the third quarter alone, revenue stood at CA$132,000, marking an 8.3% rise from the corresponding quarter the previous year. "We are very excited to continue our fleet expansion as we enter the winter peak season in British Columbia," Holland stated at the time. He emphasized the company's commitment to demonstrating the performance and capability of Eguana's feeder support solutions, which he believed would pave the way for broader deployments in British Columbia and with other utility partners across North America. The financial update also highlighted a significant improvement in gross margin, which rose to 42% for the year to date, up from a negative 66% the previous year. This improvement was primarily attributed to acquiring discounted finished goods from a former partner in 2024. The gross margin for the third quarter of 2025 was negative 16%, an improvement from negative 139% in September 2024, affected by the usual quarterly warranty provision and low sales volume. When excluding the warranty accrual, the adjusted gross margin was 31%. <h2 style="text-align: center;">Analyst: Merging Storage Tech, VPP Management</h2> 1<a href="https://www.streetwisereports.com/article/2025/09/26/the-next-wave-in-energy-storage-with-breakout-potential.html?utm_medium=feed" target="_blank" rel="noopener">In a recent analysis by John Newell of John Newell & Associates</a> dated September 26, 2025, he emphasized that Eguana Technologies Inc. has significantly impacted the rapidly evolving energy sector by deploying thousands of its innovative systems across North America, Australia, and Europe. Eguana is strategically merging advanced storage technology with VPP fleet management software, targeting both large-scale distributed resource aggregation and consumer backup markets. This approach enables Eguana to provide essential energy solutions by connecting consumers, contractors, and utilities, especially as electricity demand surges due to increased electrification, Newell explained. Eguana's business model addresses a critical challenge for utilities today: managing the escalating electricity demand driven by the electrification of vehicles, heating, and industrial systems without the need for costly expansion of centralized infrastructure. The company’s distributed energy storage systems are capable of both absorbing and supplying power as needed, thereby enhancing grid-edge capacity, facilitating real-time load balancing, local resilience, and the integration of renewable energy sources. Furthermore, Eguana’s technology extends beyond mere consumer backup solutions; it is designed for utility-grade reliability and supports functions such as local capacity relief, rapid frequency response, and integration with virtual power plants. Newell highlighted Eguana’s successful collaborations with global industry leaders such as Mercedes-Benz, BC Hydro, and Itron. Notably, the partnership with Itron integrates Eguana’s storage solutions into AI-driven smart meters using open standards, enhancing the ability of utilities to manage distributed resources with increased visibility and security, thus paving the way for broader adoption. "With a production capacity exceeding 24,000 systems annually and established relationships with major North American utilities, Eguana is well-positioned to expand in a utility-driven market that is expected to surpass US$100 billion by 2030," Newell wrote. Given these strong market fundamentals and the ongoing momentum of the energy transition, Eguana Technologies Inc. has been given a Speculative Buy rating by Newell. <a href="https://www.streetwisereports.com/article/2025/09/26/the-next-wave-in-energy-storage-with-breakout-potential.html?utm_medium=feed" target="_blank" rel="noopener">In a follow-up update on February 13, 2026</a>, Newell reiterated his Speculative Buy rating and set potential price targets for the company at CA$0.25, CA$0.30, and CA$0.45. He noted, "Should a breakout occur, the CA$0.18–$0.20 level remains the first major test. A successful move through this area would materially improve the technical picture. Using the prior decline as a reference, upside technical objectives could then emerge in stages, with potential targets in the CA$0.25, CA$0.30, and CA$0.45 range if momentum and participation continue to build." <h2 style="text-align: center;">The Catalyst: AI's Thirst for Power</h2> An internal memo from OpenAI revealed the company's plans to deploy 250 gigawatts of computing power by 2033, raising significant concerns about the environmental and economic impacts of such a massive scale-up, <a href="https://www.pcmag.com/news/openais-data-center-ambitions-could-require-as-much-electricity-as-all" target="_blank" rel="noopener">according to a report by John Martindale for PC Mag on November 13, 2025</a>. An analysis by Truthdig showed that achieving this goal would consume more electricity than the entire nation of India and produce more carbon dioxide emissions than ExxonMobil, the article noted. OpenAI, in collaboration with major partners like Softbank and Oracle, has already committed to a US$500 billion investment through Project Stargate in the U.S. over the next four years to expand its "AI infrastructure." The company is also involved in similar large-scale data center projects in the UK, Europe, and India. This trend is not limited to OpenAI; other tech giants including Google, Amazon, Meta, and xAI are also undertaking significant data center expansions, often relying on environmentally harmful gas turbines. In the memo, OpenAI's CEO Sam Altman described the target of building 250 gigawatts of capacity by 2033 as an "audacious long-term goal," the PC Mag piece said. To support this expansion, OpenAI would need to purchase around 30 million GPUs annually and operate them continuously, which would lead to quicker wear and tear, necessitating frequent replacements and upgrades. Moreover, the construction of these massive data centers competes for local resources like energy and water, potentially driving up costs and limiting access to these essential services. This could have long-term detrimental effects on local economies and public health. As Truthdig noted, OpenAI is just one among many major AI firms pursuing extensive computing capabilities that will soon put stress on electrical systems. If even a few of these companies achieve their goals, the cumulative impact on various industries and the environment could be catastrophic, Martindale reported.[OWNERSHIP_CHART-9069] After years of relatively stable electricity usage, the United States is now entering a phase of rapidly increasing consumption, <a href="https://about.bnef.com/insights/clean-energy/the-us-transition-ahead-booming-energy-demand-shifting-mobility/" target="_blank" rel="noopener">as highlighted in a report by Sunny Park for BloombergNEF on January 9</a>. The rise of AI-driven data centers, electric vehicles, and distributed generation and storage is reshaping the country's energy demand profile at an unprecedented rate. Warmer summers are resulting in increased air conditioning usage, while the early stages of industrial electrification are putting additional strain on an already stressed grid system. The transportation sector is also undergoing rapid changes, with global electric vehicle sales hitting new highs in 2025, and two- and three-wheeled electric vehicles becoming more popular, particularly in developing nations. In the United States, however, the growth in electric vehicle sales has been more gradual, as the industry encounters significant new policy challenges from Washington. <h2 style="text-align: center;">Ownership and Share Structure2</h2> About 3% is owned by management and insiders, and 15.16% is held by the Japanese ITOCHU Corp. The company's market cap is CA$5.65 million. Its 52-week range is CA$0.06 and CA$0.23. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>Eguana Technologies Inc. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000. In addition, Eguana Technologies Inc. has a consulting relationship with Street Smart an affiliate of Streetwise Reports. Street Smart Clients pay a monthly consulting fee between US$8,000 and US$20,000.</li> <li>As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Eguana Technologies Inc.</li> <li>Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.</li> <li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a> 1. Disclosure for the quote from the John Newell article published on September 26, 2025, and February 13, 2026 <ol start="1" type="1"> <li>For the quoted article (published on September 26, 2025 and February 13, 2026), Eguana Technologies has paid Street Smart, an affiliate of Streetwise Reports, US$3,000.</li> <li>Author Certification and Compensation: John Newell of John Newell and Associates was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Newell holds a Chartered Investment Management (CIM) designation (2015) and a U.S. Portfolio Manager designation (2015). The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed. </li> </ol> 2. Ownership and Share Structure Information The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30833"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30833" width="0" height="0"> ( Companies Mentioned: EGT:TSX.V; EGTYF:OTC, ) Fri, 27 Mar 2026 00:00:00 PST Energy Developer Targets Massive High-Grade Hydrocarbon Potential in Southern Africa https://www.streetwisereports.com/article/2026/03/26/energy-developer-targets-massive-high-grade-hydrocarbon-potential-in-southern-africa.html Source: <a href="https://www.streetwisereports.com/article/2026/03/26/energy-developer-targets-massive-high-grade-hydrocarbon-potential-in-southern-africa.html?utm_medium=feed">Streetwise Reports 03/26/2026</a> Reconnaissance Energy Africa Ltd. (RECO:TSXV; RECAF:OTCQX; 0XD:FSE) is exploring for hydrocarbons in Africa. One analyst sees bullish signs in its charts.<a href="https://www.streetwisereports.com/pub/co/10875?utm_medium=feed"></a><a href="https://www.streetwisereports.com/pub/co/10875?utm_medium=feed" target="_blank" rel="noopener">Reconnaissance Energy Africa Ltd. (RECO:TSXV; RECAF:OTCQX; 0XD:FSE)</a> is working with national governments, traditional authorities, and local stakeholders to explore oil and gas potential in Namibia, Angola and Gabon. The Canadian company announced updates on its operational activities in Namibia and Gabon in a <a href="https://www.reconafrica.com/investors/news-releases/reconafrica-commences-production-testing-operations-at-kavango-west-discovery-and-provides-an-operational-update">March 26 release</a>, saying it has made significant progress in both regions, with key developments in exploration and testing. In Namibia, ReconAfrica has initiated production testing at the Kavango West 1X discovery well as scheduled. The company has secured all necessary regulatory permits, and the production liner, sourced from North America, has been delivered to the site. ReconAfrica has contracted with Halliburton and Schlumberger Oilfield Services for equipment and services, and local suppliers are actively involved in supporting the operations. Recent updates in log analysis, incorporating additional rock data, have refined the understanding of the well's potential, now indicating 75 meters of net hydrocarbon pay in the Huttenberg formation, an increase from the previously reported 64 meters. ReconAfrica said it plans to conduct production testing across six optimized zones, covering a total of 345 meters of prospective intervals, which will be isolated and perforated for testing. In Gabon, ReconAfrica is actively reprocessing 3D seismic data over the Ngulu block, which includes the significant Loba oil discovery. Upon completion of this data reprocessing, the company plans to select an appraisal location for the Loba discovery and commission a third-party resource report, anticipated by the end of 2026. The Ngulu block spans 1,214 square kilometers in shallow waters off central Gabon, strategically located near several large producing oil fields. This block is noted for the Loba oil discovery and over 28 prospects identified in both pre- and post-salt plays through seismic analysis. <h2 style="text-align: center;">Moving Away From 'Activity-Based Finance'</h2> In a conversation with Streetwise Reports, President and Chief Executive Officer Brian Reinsborough said ReconAfrica is "one of the most unique small caps globally, I think, because of the exposure of what we're testing." He continued, "We're really testing giant field potential, which typically you look offshore, but we're doing it onshore. And the meaningfulness of that is to do it offshore you'd have to drill US$100 million wells. We're drilling US$12 million wells but chase a similar sized prospects. So, the economics are just remarkably improved." Reinsborough said the cycle time to production is a big driver. "You know, if I went out and discovered half a billion barrels today in deep water, first production is about seven to eight years out, just because it takes time to drill these wells, lay a pipeline, and build a ship." With onshore projects, "We can get production on within a year." <a href="https://www.reconafrica.com/investors/news-releases/reconafrica-announces-closing-of-c368-million-underwritten-offering-funded-to-advance-multi-zone-production-testing-at-kavango-west-1x-accelerate-follow-on-appraisal-drilling-on-kavango-discovery-and-advance-activities-at-ngulu" target="_blank" rel="noopener">In a January 19 release, the company announced</a> the successful completion of its underwritten, listed issuer financing exemption offering, raising aggregate gross proceeds of more than CA$36 million, which included deal upsizing and full exercise of the over-allotment option. The funds raised are earmarked to accelerate activities across ReconAfrica’s portfolio, buoyed by recent successes such as the Kavango West 1X well and the inclusion of the Ngulu Block offshore Gabon, which features the Loba discovery, the company said. Specifically, the net proceeds will support extensive production testing and the installation of production casing at the Kavango West 1X discovery well, the spudding of the Kavango appraisal well, re-processing seismic data at the Loba discovery to advance towards a resource report and drill-ready status of an appraisal well, along with general corporate purposes and working capital. Reinsborough said his vision for the ReconAfrica involves getting away from what he calls "activity-based finance" for small caps. "You raise CA$5 million dollars for a seismic program, you run out of money and go do another raise another of CA$5 million dollars for a well," he said. "It's very linear. But what I want to do is underwrite the business. The importance of that is now we're no longer just a one pony show here. We have Namibia, we have Gabon, and we have Angola and we have other stuff going in parallel. What I want to do is go to the market and underwrite the business for the whole year such that I can have concurrent activities going on." <h2 style="text-align: center;">Analyst: Stock Shows Strong Bullish Signals</h2> 1<a href="https://www.streetwisereports.com/article/2026/03/03/oil-and-gas-in-africa-significant-growth-potential-with-an-exciting-key-shareholder-and-fabulous-charts.html?utm_medium=feed" target="_blank" rel="noopener">According to a March 3 review of the stock by Technical Stewart Thomson for Streetwise Reports</a>, ReconAfrica is actively expanding its oil and gas exploration activities across southern Africa, with significant operations in Namibia, Angola, and Gabon. In Namibia, the company holds an extensive 6 million acres under license PEL 73 and is advancing its exploration program in the Damara Fold Belt. Recently, ReconAfrica has made notable progress, including drilling its second well in the Damara Fold Belt, the Kavango West 1X, which resulted in a hydrocarbon discovery. Expanding its geographical footprint, ReconAfrica has also entered Angola with a new Memorandum of Understanding for an additional 5 million acres, complementing its existing operations, Thomson noted. This strategic expansion is designed to capitalize on the geological continuity across the border from Namibia. In Gabon, the company has secured the NGULU offshore block, which presents both near-term appraisal opportunities and exploration prospects in a proven hydrocarbon basin. This addition is part of ReconAfrica's strategy to diversify its portfolio and enhance its presence in key African oil regions. Looking ahead, ReconAfrica has outlined several key catalysts for 2026. These include conducting a production test on the Kavango discovery, drilling an appraisal well near this discovery, and advancing seismic and appraisal activities in the NGULU block in Gabon. ReconAfrica holds a 70% working interest in its Namibian operations, with partners including BW Energy and NAMCOR. The company's proactive exploration strategy is supported by a robust environmental and social governance program, particularly in Namibia, where it aims to make a positive impact on human lives. The leadership team, led by Reinsborough, brings extensive experience and a proven track record in global oil and gas exploration, the analyst noted. Under their guidance, ReconAfrica is poised to continue its exploration success and operational expansion across its portfolio. According to Bloomberg, a significant number of company insiders, including the CEO who owns over 1 million shares, hold stakes in the company, Thomson said. Recent data indicates that 10 out of 11 insiders have increased their shareholdings, with only one maintaining their position. BW Energy emerges as the largest shareholder, possessing over 26.3 million shares, having recently augmented their investment by more than 4 million shares, an infusion valued at over CA$20 million. <img class="float_left" src="https://www.theaureport.com/images/auto_up/202632584623_202633112048_11.png" alt="" width="624" height="703" />From a technical analysis perspective, the stock exhibits strong bullish signals, his analysis said. The daily chart shows the MACD histograms (20,40,10 series) on the rise, nearing a significant buy signal cross, with the stock price rebounding from the CA$0.75 support level. An emerging small inverse head and shoulders (H&S) pattern suggests a potential rally to CA$1.00 is on the horizon. Additionally, the RSI is climbing, and trading volumes are robust, indicating bullish sentiment. "This weekly chart is technically enticing," Thomson noted (chart at left). "Massive volume is evident on the rally from the head of the huge inverse H&S pattern. The key 5,15 series moving averages are 'kissing.' This often occurs right before there's a big trending move. The H&S pattern target is about CA$1.80, which is also the area of the highs of recent years. The Stochastics oscillator (14,5,5 series) is looping up in the momentum zone of 50. This adds to the overall bullishness of the chart." At the time of reporting, the stock is priced at CA$0.85. The short-term technical price target is set at CA$1.00, with medium and long-term targets at CA$1.35 and CA$1.80, respectively. The technical rating stands at a Speculative Buy, reflecting a positive forecast for the stock's trajectory. <h2 style="text-align: center;">The Catalyst: Astonishment Among Oil Executives</h2> At the CERAWeek by S&P Global conference in Houston this week, global energy leaders expressed deep concerns over the impacts of the ongoing U.S.-Israel war with Iran on the energy sector, <a href="https://www.politico.com/news/2026/03/24/the-worst-ive-seen-oil-industry-grapples-with-the-fallout-from-trumps-war-with-iran-00841820?cid=apn" target="_blank" rel="noopener">according to a report by James Bikales and Ben Lefebvre for The New York Times on March 24</a>. This marks the second time in four years that top White House officials have urged producers to increase drilling to mitigate supply disruptions caused by war-driven oil and natural gas price shocks. However, unlike the unified response to Russia’s 2022 attack on Ukraine, the reaction to the Middle East conflict has been notably disjointed, receiving limited support from allies and leaving the industry uncertain about how to proceed. Gareth Ramsay, chief economist at BP, highlighted the unprecedented nature of the current disruptions, describing them as a scenario beyond what oil analysts had ever anticipated. The situation has escalated political tensions as well, with Donald President Trump’s approval rating dropping to 36% amid public frustration over rising gasoline prices, as revealed by a recent Reuters poll. This discontent poses a significant threat to the Republican Party's efforts to maintain control of Congress in the upcoming midterm elections. The conference also reflected a sense of astonishment among executives from the world’s largest oil companies, who are more concerned about the extent of the supply disruptions than the potential profit gains from higher oil prices. Notably, CEOs from major companies like Exxon Mobil and Saudi Aramco chose to skip the conference, even as their companies benefit financially from the elevated prices, the report noted. The conflict has particularly exacerbated fears within the industry, turning the dreaded scenario of the Strait of Hormuz closure into a harsh reality, Bikales and Lefebvre wrote. This critical waterway, responsible for the transit of 20% of the world’s oil from the Middle East, has been compromised. Iran’s actions have also caused significant damage to major refineries, oil and gas fields, and gas export facilities around the Persian Gulf. Paul Sankey, a senior adviser at consulting firm Oliver Wyman and a veteran energy market analyst, described the turmoil in the oil market as the worst he has seen, referring to the situation as "Gulf War III," the New York Times piece said. Filling up at the gas station has become increasingly painful for drivers, especially in San Francisco, where gas prices are hitting alarming highs, <a href="https://www.axios.com/local/san-francisco/2026/03/25/san-francisco-gas-prices-2026-california-refinery-shortage-strait-of-hormuz-iran-war" target="_blank" rel="noopener">according to a report by Nadia Lopez for Axios on March 25</a>. This surge is driven by a mix of global oil market disruptions and local supply issues, and there are warnings that the situation could worsen. In California, the rapid rise in gas prices is particularly stark, with some stations in San Francisco nearing the US$7 per gallon mark.[OWNERSHIP_CHART-10875] The recent conflict in Iran has sparked one of the most significant spikes in gas prices in recent memory. This, combined with California's limited refinery capacity, is intensifying the financial strain for drivers. According to AAA, as of Tuesday, the average price for regular gas in San Francisco was about CA$6, a significant jump from CA$4.83 just a month earlier. Meanwhile, the statewide average stood at CA$5.82, compared to the national average of CA$3.97. <h2 style="text-align: center;">Ownership and Share Structure2</h2> About 1% of the company is owned by insiders and management, including Reinsborough with 0.29%. About 7% is held by BW. The rest is in institutional and retail. Other top shareholders include Senior Vice President of Drilling and Completions Nicholas Steinsberger with 0.17%, Director Joseph Davis with 0.06%, Senior Vice Preside4nt of Exploration Christopher Sembritzky with 0.06%, and Director W. Derek Aylesworth with 0.05%. ReconAfrica's market cap is CA$360.84 million with 379.8 million shares outstanding. It trades in a 52-week range of CA$0.40 and CA$1.35. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>Reconnaissance Energy Africa Ltd. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.</li> <li>As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Reconnaissance Energy Africa Ltd.</li> <li>Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.</li> <li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a> <ol> <li>Disclosure for the quote from the Stewart Thomson article published on March 3, 2026:</li> </ol> <ol> <li>For the quoted article (published on March 3, 2026), Reconnaissance Energy Africa Ltd. has paid Street Smart, an affiliate of Streetwise Reports, US$3,550.</li> <li>Author Certification and Compensation: Stewart Thomson was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Thomson is a retired Canadian financial advisor who has passed the Canadian Securities Course as well as additional technical analysis courses that were mandated by his former employer and approved by Ontario regulatory bodies. For the past 15 years, he has been editing and writing numerous financial newsletters that have a strong focus on charts. The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.</li> </ol> <ol start="2"> <li> Ownership and Share Structure Information</li> </ol> The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers. <img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30831"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30831" width="0" height="0"> ( Companies Mentioned: RECO:TSXV;RECAF:OTCQX;0XD:FSE, ) Thu, 26 Mar 2026 00:00:00 PST Market Conditions: Stocks Have Carved Out a Rounding Top https://www.streetwisereports.com/article/2026/03/24/market-conditions-stocks-have-carved-out-a-rounding-top.html Source: <a href="https://www.streetwisereports.com/article/2026/03/24/market-conditions-stocks-have-carved-out-a-rounding-top.html?utm_medium=feed">Michael Ballanger 03/24/2026</a> Michael Ballanger of GMM Advisory Inc. shares his thoughts on the current state of the markets. Ballanger also shares some actionable ideas for the week.<img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202632454927_1.png" alt="" width="628" height="573" /> In the past week, I have observed a legion of perma-bears all pointing to various technical and fundamental reasons for the bull market that began in 2009 to have ended. The main culprit, of course, is the price of oil, gas, diesel, heating oil, jet fuel, and any other hydrocarbon necessary for the smooth operation of every economy on the planet. No amount of solar or wind is going to replace the loss of Qatar's LNG terminal thanks to an Iranian drone, delivered with great precision and lethal force by the Iranian Air Command, an outfit claimed to have been eradicated by U.S. President Trump seven times in the past three weeks. As much as the Western media (owned and operated by those sympathetic to Israel) continues to "report" on the Middle Eastern news front, the bias will not be a lot different than the news reports from Iraq during the first Gulf War when the Iraqi spokesman, known affectionally in the West as "Baghdad Bob" went on the air every few hours to assure his citizens and the world that Iraq was indeed "winning the battle" as building were exploding behind him. The events of the past four weeks were supposed to have been quick, lethal, and surgical in order to bring the Iranian military to its knees but with the Strait of Hormuz impassable except for a few favoured China/India/Pakistan-bound vessels, the war with Iran appears to have been a case of underestimation of the preparedness of the Iranian forces and leadership. The American/Israeli assault group claims to have taken out the main leadership group through surgical air strikes, and yet the Iranian theocracy lives on, defending the nation as best it can and lashing out at any Middle Eastern neighbour hosting American bases. The latest news has three more warships headed to the region with approximately 4,400 to 5,000 U.S. Marines ordered to the Middle East. While the Trump administration has not officially confirmed a mission to seize Kharg Island, multiple reports indicate it is a "high-risk, high-reward" option being considered to gain leverage over Iran and reopen the Strait of Hormuz. These are not moves indicative of a quick resolution of the conflict any time soon, and certainly no reason for the U.S. President to show up in a bomber jacket on the deck of one of the carriers declaring "Kuwait is liberated. Iraq's army is defeated. Our military objectives are met" while a banner reading "Mission Accomplished" hung in the background. What the markets were telling us last week was that they do not believe any of the claims being made by the White House and that the "mission" to affect regime change in Iran is not going to happen overnight. Most certainly, with "boots on the ground" about to enter the fray, markets are starting to take actions that reduces leverage and hedge portfolios. That is not the fabric with which bull markets exist, and with valuation levels 2-3 standard deviations above the norm, there is a great deal of room for profits to be taken. On that note, one look at the chart of the S&P 500 since March 2009, and you can picture just how enormous the profits are remaining in portfolios. Even a minor correction to test the Covid Crash lows would be catastrophic. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202632454958_2.png" alt="" width="628" height="280" /> Support for the S&P 500 is at 5,500 and 4,000, respectively, which are merely bounce points allowing portfolio managers to rebalance risk. Alas, the majority of PM's these days have never been through a prolonged, drawn-out bear market like 2001-2002 or (God forbid) 1973-1974. They have seen the practice of "buying the dip" rescue them every single time stocks began to leak oil, thanks largely to the habit of the Fed and/or the U.S. Treasury injecting liquidity into the system just as the breakdowns were starting to unfold. Bullets were dodged in 2008 and 2020 by trillions of dollars of magical, make-believe "money" floating down from the skies and winding up on the balance sheets of the money centre banks whose batteries of traders applied their newfound liquidity to the task of rescuing the PM's P&L statements from surefire ridicule and bonus evaporation. So, the main question I must answer is this: "Do investors have enough time to wait for the inevitable bounce from deeply oversold conditions in order to reduce risk and establish hedges?" Based upon the sentiment indicators that I follow, most of the major averages are approaching or have arrived at "oversold" status with the CNBC Fear-Greed Index now solidly in <EXTREME FEAR> at 15. I have seen it lower at the bottoms in April of last year at 4 and at the Covid lows of 2020 at 2, so while investor angst is rising sharply, it is not yet at the "Back-up-the-truck" stage. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202632455026_3.png" alt="" width="628" height="227" /> I believe that we are in the throes of a leadership change in the global markets that may take another few months to play out, with the ultimate conclusion being a rise of commodities as the new leadership group, replacing all of the former leaders like "AI", Bitcoin, and Mag Seven names with new leaders from the hard assets camp. That is not to suggest that Agnico Eagle Mines Ltd. (AEM:TSX; AEM:NYSE) or Newmont Corp. (NEM:NYSE; NGT:TSX; NEM:ASX) will assume the role of Newmont Corp. (NEM:NYSE; NGT:TSX; NEM:ASX) or Meta Platforms Inc. (META:NASDAQ) immediately but major global miners like BHP Billiton Ltd. (BHP:NYSE; BHPLF:OTCPK) or Freeport-McMoRan Inc. (FCX:NYSE) could easily grab hold of and run with the mantel of market dominance in the same manner that NVidia suddenly leapt out of a moribund pack of video game chipmakers and seized the moment in a "Carpe Diem" feat of monumental history. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202632455046_4.png" alt="" width="628" height="280" /> Moves like the one shown above are not commonplace, but they do occur. Bitcoin made the same advance off the lows in 2008 with "story stocks" like Tesla Inc. (TSLA:NASDAQ) and GameStop Corp. (GME:NYSE), and Strategy Inc. (MSTR:NASDAQ), all making millionaires out of paupers in their heydays, followed by making millionaires out of billionaires once the bloom came off the proverbial rose. However, since corrections take everything down with them before a new leadership group can emerge from the mire, it is logical to assume that this current period of weakness will not be friendly to even the hard asset crowd, which is why my portfolio is never without some form of hedge to offset market drawdowns. It does not prevent my portfolio from giving back gains, but it does "soften" the drawdowns. In prior times, I would look at the myriad of technical breakdowns all happening with alarming and simultaneous frequency this past week and add to my hedges aggressively but since this sell-off in stocks and spike in oil has been event driven, history has taught me to look out to the end of hostilities rather than listening to all of the podcasting grave-dancers calling for a crash. There is no doubt that a prolonged period of rising energy prices will crush the global growth narrative, and that will undoubtedly explain the large rise in copper inventories that I have been noting in recent email alerts. However, infrastructure, including missiles and drones, will need to be replaced and rebuilt, and that will force a drawdown in copper inventories as the munitions factories go to work. If there is one positive side-effect to the events of the last four weeks, it is that the protesters who want to defund oil and gas and move to carbon-neutral energy sources are about to learn what a world without hydrocarbons actually feels like. All that electricity required for those fancy Teslas is going to cost a great deal more if the current is being generated by the burning of natural gas. If anything, it is going to accelerate the move to electrification as these younger generations of tree-huggers suddenly find their heating bills rising faster than their Starbucks bills, which will certainly be a terminally corrosive event for most of them but a huge boost for the copper producers. <h2 style="text-align: center;">Actionable Ideas for Next Week</h2> This is an add-on to the Weekly Missive released last evening because of the epiphany I had while watching the Carolina Hurricanes thump the Leafs in what has become a throwback to the 2015-2016 season when the team was "tanking" late in the year in order to secure the first overall pick (which became current Leafs captain Auston Matthews). I expect markets to rally feebly to work off the current oversold condition. We might see further weakness in the miners over the next three sessions, so I am scaling into the junior gold ETF (GDXJ:US) and one senior copper producer, Freeport-McMoRan Inc. (FCX:NYSE), while placing bids for a number of the junior developers under the market. I did not trim any of the juniors during the big run-up in January, so I need not make many moves there, but since the seniors always are the first to rebound, I am better off focusing on the quality names first if I think there is going to be a reflex rally. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202632455112_5.png" alt="" width="628" height="475" /> As for the gold and silver miners, I did not chase any of them during their rebound off the crash lows of early February. Instead, I cautioned you all to await the inevitable re-test of those lows around $4,400 gold and $62 silver. With the Friday low of $4,480 gold and $67.75 silver, there might be a further follow-through on Sunday night through Monday morning but by the time they open for trading at 9:30 on Monday, I will have a pretty good idea if the buyers are circling or whether there is more selling left. I am hoping that there is more leverage to be unwound next week, and judging from the huge advance in the gold and silver miners in January-February, there could certainly be more profit-taking. With instructions laid out in the Special Situations Bulletin of last week, I have completed the following: For more aggressive speculators: <ul> <li>BOUGHT 50% (25 calls) position GDX June $75 calls @ $10.00</li> </ul> Add an additional 50% at $8.00 by Wednesday. I was not able to complete the following: <ul> <li>Buy 25% position GDX:US @ $76.00</li> </ul> Add 25% each day that follows until Wednesday. It traded down to $78.74 on Friday and might hit my $76 target entry level early next week, depending on what I see on Friday night. I also issued the following: <ul> <li>BUY 25% position GDXJ:US @ under $100</li> </ul> Add 25% each day through next Wednesday. Nothing done. It traded down to $102.88 after opening at $109.57, so the term "crashing" is certainly appropriate, which is why I use a "scale-in" approach. For speculators: <ul> <li>BUY 50% position GDXJ June $100 calls @ $12.00.</li> </ul> Add 50% @ $9.00 next week. Nothing done. It was $14.10 bid on the close on Friday. Again, I will know what my chances are of an entry at $12 by Sunday evening's electronic session. On the copper front, there are a number of issues that should be bought: Freeport-McMoRan Inc. (FCX:NYSE) <ul> <li>BOUGHT 50% (1,000 shares) position FCX:US @ $52.30</li> <li>BOUGHT 50% position (25 contracts) FCX June $55 @ $4.50</li> </ul> Ivanhoe Mines Ltd. (IVN:TSX; IVPAF:OTCQX) <ul> <li>BUY 50% position (2,000 shares) @ $7.50</li> <li>Add remaining 50% @ $6.00 by Wednesday</li> </ul> Fitzroy Minerals Inc. (FTZ:TSX.V; FTZFF:OTCQB)Fitzroy Minerals Inc. <ul> <li>Buy 200,000 FTZ:TSXV/FTZFF:US @ CAD $.35 / $.26 good through Wednesday.</li> </ul> <h2 style="text-align: center;">Energy</h2> I have already reduced exposure to oil and increased exposure to natural gas, so I am sitting with three names that will benefit if the Middle East conflict is prolonged or spreads. In this sense, the energy names are a hedge. <h2 style="text-align: center;">Market Hedges</h2> <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202632455148_6.png" alt="" width="628" height="378" /> The only actual hedge that still remains, aside from the energy names, is the T-Rex 2X's Inverse Tesla Daily Target ETF (TSLZ:US), which I own from an average cost base of $17.51 on 6,000 shares. It has traded as low as $9.735 on December 22 of last year, but I refused to dump it, because as Warren Buffett famously said, "The only time you find out who is swimming nude is when the tide goes out." So, with stocks correcting and leadership rotating, the Mag Seven now in full retreat, I have always considered Tesla Inc. to be not only in breach of GAAP (Generally Accepted Accounting Practices) but also negligent on multiple occasions of the CEO (Elon Musk) making "forward-looking" statements that verged upon outright "fabrications." For these reasons, I have determined that before very long, investors would be become jaded over the "Musk Effect" and look at Tesla Inc. for what it is, a failed EV manufacturer losing money (net of carbon credits from Uncle Sam) that is losing market share to China's BYD, where in Europe they are the only EV on the road. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202632455213_7.png" alt="" width="628" height="378" /> On Monday, watch TSLA closely as it has now taken out the three major moving averages, the 50-dma, the 100-dma, and the 200-dma, leaving literally no lines of support left other than the March 2025 peak and the May 2025 peak (which it just broke). A move to under $300 takes the TSLZ to around $40. I also own (in a non-public account) another small position in the TSLZ April $15 calls that I bought last week at $1.90. They closed at $2.35 on Friday, but if TSLA crashes next week to under $300, these calls are probably worth $25. With an RSI at 31.94 for TSLA:, the odds favour a reflex rally by later in the week but if we get a waterfall capitulation-type crash starting early next week, the one stock that has nothing in the way of technical support is the failed EV manufacturer, Tesla Inc.. As a limited risk speculation on a waterfall decline, these calls could represent a low-risk shot on continued weakness in the Mag Seven and Tesla. Buy only as much as you can afford to completely lose IF you decide to take the plunge. Risking a few thousand dollars to earn a ten-bagger is a justifiable speculation, especially if the tide is actually going out. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Agnico Eagle Mines Ltd., Tesla Inc., and Fitzroy Minerals Inc. </li> <li>Michael Ballanger: I, or members of my immediate household or family, own securities of: Freeport-McMoRan and the Van Eck Junior Gold Miners ETF. My company has a financial relationship with: None. My company has purchased stocks mentioned in this article for my management clients: None. I determined which companies would be included in this article based on my research and understanding of the sector.</li> <li>Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy. </li> <li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting" target="_blank" rel="noopener">here.</a> Michael Ballanger Disclosures This letter makes no guarantee or warranty on the accuracy or completeness of the data provided. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. This letter represents my views and replicates trades that I am making but nothing more than that. Always consult your registered advisor to assist you with your investments. I accept no liability for any loss arising from the use of the data contained on this letter. Options and junior mining stocks contain a high level of risk that may result in the loss of part or all invested capital and therefore are suitable for experienced and professional investors and traders only. One should be familiar with the risks involved in junior mining and options trading and we recommend consulting a financial adviser if you feel you do not understand the risks involved. <img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30824"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30824" width="0" height="0"> Tue, 24 Mar 2026 00:00:00 PST Saskatchewan Uranium Drilling Heats Up: Skyharbour Resources Wheeler North JV Targets 7,500 Meters in the Athabasca Basin https://www.streetwisereports.com/article/2026/03/20/saskatchewan-uranium-drilling-heats-up-skyharbour-resources-wheeler-north-jv-targets-7-500-meters-in-the-athabasca-basin.html Source: <a href="https://www.streetwisereports.com/article/2026/03/20/saskatchewan-uranium-drilling-heats-up-skyharbour-resources-wheeler-north-jv-targets-7-500-meters-in-the-athabasca-basin.html?utm_medium=feed">Streetwise Reports 03/20/2026</a> Skyharbour Resources Ltd. (SYH:TSX.V; SYHBF:OTCQX; SC1P:FSE) has confirmed the launch of the 2026 winter exploration season at the Wheeler North Joint Venture in Saskatchewans eastern Athabasca Basin, with JV operator and financier Denison Mines Corp. leading the charge.<a href="https://www.streetwisereports.com/pub/co/6026?utm_medium=feed" target="_blank" rel="noopener">Skyharbour Resources Ltd. (SYH:TSX.V; SYHBF:OTCQX; SC1P:FSE)</a> has confirmed the <a href="https://skyharbourltd.com/news-media/news/skyharbour-jv-partner-denison-mines-commences-winter-drill-program-at-the-wheeler-north-joint-venture-in-northern-saskatchewan" target="_blank" rel="noopener">launch of the 2026 winter exploration season</a> at the Wheeler North Joint Venture in Saskatchewan's eastern Athabasca Basin, with JV operator and financier Denison Mines Corp. leading the charge. <h2 style="text-align: center;">Wheeler North Drill Program: Three High-Priority Targets, 7,500 Meters Planned</h2> The first phase of the 2026 campaign gets underway at the Fox Lake Trail (FLT) target, with roughly 2,500 meters of diamond drilling scheduled. The full-year program aims to complete approximately 13 drill holes totaling 7,500 meters across three priority target areas: Fox Lake Trail, Fork, and Sphinx. Importantly, Denison is managing and fully funding this program under the terms of the joint venture agreement signed in late 2025, meaning Skyharbour carries no exploration cost at Wheeler North while retaining a 51% ownership stake. <h3 style="text-align: center;">Fox Lake Trail</h3> Situated at the northern end of the Wheeler North property, this target is defined by several parallel electromagnetic (EM) conductors refined through modern ground geophysical surveys completed in 2025. Previous drilling has revealed strong hydrothermal alteration and localized basement-hosted uranium mineralization, helping sharpen the structural interpretation of the zone. <h3 style="text-align: center;">Fork Zone</h3> Trending northeast-southwest along a structural corridor, the Fork Zone hosts the highest-grade uranium mineralization identified to date across the broader Russell Lake project area. Ground EM surveys have mapped multiple conductive trends here, most of which remain undrilled, pointing to significant exploration upside. <h3 style="text-align: center;">Sphinx Target</h3> Located approximately one kilometer southeast of Denison's Phoenix uranium deposit, the Sphinx target is defined by a newly identified ground EM conductor within a reactivated structural corridor. One drill hole has confirmed a faulted, altered graphitic basement structure consistent with the EM anomaly. With just a single hole completed, Sphinx remains largely open and sits directly adjacent to one of the Athabasca Basin's highest-grade uranium deposits. <h2 style="text-align: center;">The Joint Venture Structure: A Reorganized, Basin-Scale Land Position</h2> The Wheeler North JV emerged from a major restructuring of Skyharbour's former Russell Lake property in 2025. That transaction with Denison carved the land package into four separate joint ventures: Wheeler North, Getty East, Russell Lake (RL), and Wheeler River Inliers, collectively covering 73,314 hectares of advanced-stage uranium exploration ground in the eastern Athabasca Basin. The combined land package sits strategically between Cameco's Key Lake and McArthur River operations to the west and Denison's flagship Wheeler River Project to the east. Skyharbour operates the RL and Getty East JVs, while Denison manages Wheeler North and Wheeler River Inliers. Total deal consideration reaches up to CA$61.5 million, with Skyharbour retaining an 80% interest in RL. Denison has a two-phase earn-in path at Wheeler North: it can increase its stake from 49% to 60% by completing CA$10 million in exploration within 48 months (including CA$2.5 million in the first 24 months) and making a CA$1.5 million cash payment to Skyharbour. A further increase to 70% requires an additional CA$15 million in exploration and a CA$2 million payment within seven years of closing. Wheeler North spans 16,409 hectares across eight claims immediately adjacent to the Wheeler River Project. The northern extension of Highway 914 runs through the western portion of the land package, and a high-voltage provincial powerline runs parallel to the road, providing practical infrastructure access. Across all four JVs, Skyharbour has identified more than 10 named priority exploration zones, including Grayling, Fork, Little Mann Lake, Fox Lake Trail, Sphinx, Blue Steel, and Kowalchuk, along with more than 35 kilometers of largely untested prospective EM conductors. <h2 style="text-align: center;">Analyst Outlook: BUY Ratings, Fundamentals Described as 'Never Better'</h2> Fundamental Research Corp. analyst Siddharth Rajeev reiterated a BUY rating in a February 2026 note, raising his fair value estimate from CA$1.12 to CA$1.16 per share. Rajeev pointed to uranium's 28% year-over-year price increase to approximately US$88 per pound, a level seen only twice before historically, and cited partner-funded exploration, Skyharbour's expanded 43-property portfolio covering 662,887 hectares in the Athabasca Basin, and upcoming drilling catalysts at both Moore and Russell Lake as key value drivers. Skyharbour's stock had risen approximately 33% since its prior December 2025 coverage update. Red Cloud Securities analyst David Talbot, <a href="https://www.streetwisereports.com/article/2026/01/20/drilling-at-u3o8-asset-shows-grade-footprint-upside.html?utm_medium=feed" target="_blank" rel="noopener">writing in January 2026</a>, highlighted the successful expansion of the Main Maverick and Maverick East zones at the Moore uranium project during 2025 drilling, including the identification of higher-grade areas. Talbot maintained a Speculative Buy rating with a CA$0.65 target price, implying roughly 48% upside from the stock's then-current price near CA$0.44, and characterized Russell Lake as a flagship property. He flagged the initial mineral resource estimate as a key upcoming catalyst, noting that work at the project is expected to ramp up as the year progresses. <h2 style="text-align: center;">The Macro Backdrop: An 'Epic' Multi-Year Cycle Taking Shape?</h2> At the 2026 PDAC convention in Toronto, Scott Melbye, EVP of Uranium Energy Corp. and CEO of Uranium Royalty Corp., described current market conditions as the beginning of an <a href="https://www.kitco.com/news/article/2026-03-06/exploration-reality-melbye-sees-epic-multi-year-uranium-cycle-us-decouples" target="_blank" rel="noopener">"epic" multi-year growth cycle</a>, driven by a near-term supply deficit of approximately 50 million pounds and a projected deficit approaching 1.7 billion pounds by 2045. He called uranium's underlying fundamentals the strongest he has seen, describing current price consolidation as a "breather" before an anticipated move higher. [OWNERSHIP_CHART-6026] Uranium spot prices stood at approximately US$86.95 per pound at the end of February 2026, down from a <a href="https://www.ans.org/news/article-7814/u-prices-fall-in-february-remain-relatively-high/" target="_blank" rel="noopener">two-year peak of US$94.28</a> the prior month but roughly 32% above year-ago levels. Demand tailwinds include accelerated nuclear project approvals under the current U.S. administration, significant capital commitments from major tech companies exploring nuclear power for AI and data center infrastructure, and ongoing supply concentration risk, with Russia controlling an estimated 35% of global uranium enrichment capacity. The Sprott Physical Uranium Trust grew its holdings by 4% to 78 million pounds within a single month, reflecting strong institutional demand. <h2 style="text-align: center;">Company Snapshot1</h2> Skyharbour Resources holds 212.1 million shares outstanding and a market capitalization of approximately CA$97.56 million. Its 52-week trading range spans CA$0.28 to CA$0.66. Institutional and strategic holders account for roughly 55% of the share structure, retail approximately 40%, and management and insiders approximately 5%. President and CEO Jordan Trimble holds a 1.58% stake, and Director David Cates holds approximately 0.87%. For 2026, management has outlined its largest annual drill program to date, approximately 25,000 meters across the 100%-owned Moore uranium project and the Russell Lake JV, with a maiden resource estimate at Moore targeted for delivery this year. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>Skyharbour Resources Ltd. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.</li> <li>Haley Nothstein wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor.</li> <li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting" target="_blank" rel="noopener">here.</a> 1. Ownership and Share Structure Information The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30812"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30812" width="0" height="0"> ( Companies Mentioned: SYH:TSX.V; SYHBF:OTCQX; SC1P:FSE, ) Fri, 20 Mar 2026 00:00:00 PST The Effect of Higher Oil Prices on Gold and Gold Stocks https://www.streetwisereports.com/article/2026/03/23/the-effect-of-higher-oil-prices-on-gold-and-gold-stocks.html Source: <a href="https://www.streetwisereports.com/article/2026/03/23/the-effect-of-higher-oil-prices-on-gold-and-gold-stocks.html?utm_medium=feed">Adrian Day 03/23/2026</a> Global Analyst Adrian Day looks at the effect higher oil prices could have on gold and gold miners.Higher oil prices can hurt gold prices in two ways. Given that a higher oil price has a significant impact on oil-importing countries such as India and China that have been major public and private buyers of gold, a continuation of the Iran war could start to put pressure on buying from these and other oil-importing emerging nations. Higher oil prices, which will boost the CPI, have also led analysts to expect few interest rate cuts ahead, as the Federal Reserve and other nations emphasis the effect on inflation more than on the economy. This would be another negative for the gold price. In addition, the war has not only boosted the dollar price, but also seen interest rates move up, providing a double-whammy on competition for gold. <h2 style="text-align: center;">The Impact of Higher Oil Prices on Miners' Costs</h2> Higher oil prices would also affect gold company margins, which have been remarkably strong and rising over the last few years, helped by a low oil price keeping costs largely under control even as the gold price increased. Diesel is the largest cost input for operating mines, so though the impact on gold mines is generally less than on copper or iron ore mines, it will cause costs to increase. Higher oil prices also affect other cost inputs of course. A study from BMO concluded that costs for gold miners would increase by about 2% for every $10 move in the oil price. So a move from $60 to $100, for example, such as we have seen this month, would increase costs by around 9%. Mines in the Americas and in Africa have historically been less sensitive to the oil price than to those located elsewhere, while there are individual factors affecting different mines. And this is before miners took any remedial action, which they would if the price remained high for an extended period. <h2 style="text-align: center;">It Would Have a Modest Impact</h2> In addition, some companies have hedged their diesel; Agnico Eagle Mines Ltd. (AEM:TSX; AEM:NYSE), for example, has hedged a little over half of its 2026 estimated exposure at an average of $0.69 per litre. The cost of diesel has jumped about 70% since late February to the current spot a little over $1 per litre. So while a higher oil price unquestionably is a negative for gold mining companies, their costs and their margins, the impact is manageable. Again for Agnico, with All-In Sustaining costs of $1,339, and the gold price at $5,200, there is room for costs to increase and the company to continue to generate margins well above its historical norm, and continue to be wildly profitable. <h2 style="text-align: center;">Franco Ends the Year on a Strong Note, Rebuilds Cash Pile</h2> Franco-Nevada Corp. (FNV:TSX; FNV:NYSE) reported results meaningfully above analyst expectations with 142k GEOs and revenue of $597 million for the fourth quarter, allowing it to end the year at the top end of its 2025 guidance (and annual earnings up 75%). Increases at Antamina and Hemlo offset declines in the oil & gas division. It ended the quarter with cash of $671 million (and no debt), rebuilding its cash position after some large acquisitions last year, including, in May, a record royalty purchase on the Cȏté mine for just over $1 billion. In addition, Franco holds equities now valued at over $1 billion., primarily in two companies. CEO Paul Brink said the shares were acquired as part of financing packages, the Franco intends to be a long-term supportive shareholder," but if there are good opportunities" they could "take some money off the table." <h2 style="text-align: center;">Guidance for Modest Growth, but Significant Potential</h2> Starting this year, Franco will use fixed prices for different commodities in calculating "Gold Equivalent Ounces" in an effort to avoid fluctuating GEOs caused solely by commodity price differentials. The company provided guidance for this year of 510k to 570k, with modest increases over the next five years — "just the baseline," according to Brink–excluding anything from Cobre Panama. Following an environmental audit of the closed mine, expected in April, stockpiled ore will be shipped, giving Franco an estimate 23,000 ounces of gold plus 265,000 ounces of silver, probably in the third quarter. Franco is a core position for us; we are holding. <h2 style="text-align: center;">Wheaton Also Reports Record Quarter and Year</h2> Wheaton Precious Metals Corp. (WPM:TSX; WPM:NYSE) reported record fourth-quarter and fullyear results, largely in line with expectations after the company pre-released sales numbers last month. GEOs sold and revenues were records (with EBITDA up 88% from the year-ago quarter); costs were a little higher than expected. The company ended the quarter with over $1 billion in cash, but all expected cash-onhand will be used towards the $4.3 billion purchase price for an additional stream on Antamina (see Bulletin #999), with the balance $900 million on its line of credit and $1.5 billion from a new term loan, giving the company a heavy debt profile. However, strong cash generation makes this manageable. This coming year will see additional stream production at Antamina and Hemlo, among other mines, with steady progress of several development assets. Hold. <h2 style="text-align: center;">Altius Earnings Up, With Cash To Deploy</h2> Altius Minerals Corp. (ALS:TSX) reported fourth-quarter earnings of CA$22.5 million, with lower costs, after pre-announcing royalty revenue. Adjusted net earnings, removing the gain on the sale of most of the Arthur Royalty, were higher for both the quarter and year compared to 2024. Revenue was boosted by higher potash and base metal prices and higher deliveries from both copper and renewables, offset by lower iron dividends (little more than half of the prior year) CEO Brian Dalton noted that the Labrador Iron Ore Royalty Corp. would see lower dividend payments as the mine operators spent cash flow on reinvestment, after years of underinvestment; the royalty revenue would continue, however. <h2 style="text-align: center;">Balance Sheet Strong With Cash To Deploy</h2> During the year, Altius repaid $17 million in debt, including $7 million of voluntary repayments. It also has continued share repurchases. It ended the quarter with $294 million in cash, and $89 million in debt, a balance sheet that allows it to continue to make significant acquisitions. Altius is a core holding for us, given broad exposure to the commodity sector, from a very strong management team with a solid balance sheet. In addition, they have strong multi-decade assets–Arthur royalty, Kami iron ore, and the renewable business–that could each see upwards of $50 million in annual revenues starting in the early years of the next decade. Following a decline from an (almost) $50 peak at the beginning of the month, we are buying again. <h2 style="text-align: center;">Lara To Raise Equity To Advance Planalto</h2> Lara Exploration Ltd. (LRA:TSX.V) announced an equity raise of up to CA$33,75 million at CA$3 per share, with funds to be used to advance the Planalto project, including the newly acquired Atlantica extension, with both drilling and a pre-feasibility study over the next year. The stock responded positively to the news as the financing will put the company in a strong position to increase the size and potentially improve the grade at the deposit, as well as upgrade the quality of the resource. Knowing the Lara team, they would not have announced such a large and aggressively priced offering–with no warrant–without knowing where many of the orders were coming from. Lara remains a Buy. <h2 style="text-align: center;">Orogen Also To Raise Funds; Possible Acquisition Ahead?</h2> Orogen Royalties Inc. (OGN:TSXV; OGNNF:OTC) also announced an equity raise of up to CA$10 million at CA$3.46 per share. The proceeds will be used for executing "potential royalty acquisitions" as well as continuing generative activities. Since the company is well funded and generates free cash flow, sufficient for its generative work, it would appear than an acquisition could be in the works. The company indicated that some directors and officers would participate in the placement. Orogen stock fell into and after this announcement, however, and is now trading at a discount to the offering price. We suspect that one cause of this could be a large resource-oriented brokerage firm prohibiting clients from buying the stock since one of their brokers is taking part in the raise. This is apparently to avoid a perception of collusion, though sells are still permitted. (Whoever said that compliance is meant to help investors?) If you do not own Orogen, you can thank over-zealous compliance regulations and officers for giving you a good buying opportunity. At today's price, Orogen is a Buy. <h2 style="text-align: center;">Tether Increases Stake in Metalla, With Possible Change in Strategy</h2> Metalla Royalty & Streaming Ltd. (MTA:TSX.V; MTA:NYSE American) saw its second-largest shareholder report an increase in holdings to 10%. This is now the fifth 13D filing by Tether since it first reported holdings in Metalla at the end of October. A month ago, Tether reported a 8.9% holding. It is possible that Tether may have changed its tactics with regard to junior royalty companies that are resisting ceding control and merging with its royalty flagship, Elemental. Tether, which has indicated it does not like hostile takeover fights, may prefer to work with other juniors independently of Elemental, as least for the time being. Another junior royalty, Versamet, in which Tether owns 12.7%, just named a Tether representative to its board. In any event, independent of Tether, Metalla is undervalued on an asset basis, with many of its royalties on major assets that will not be cash flowing for several years (including the Gosselin extension of Cote, Copper World, Castle Mountain, and Taca Taca) being undervalued in analyst NAVs and by the market. Metalla is a Buy. <h2 style="text-align: center;">Nestlé To Buy Back Deb</h2> Nestle SA (NESN:VX; NSRGY:OTC) has commenced cash tender offers to purchase some outstanding low-coupon notes totaling $1.6 billion. No reason was given for the repurchase offer. Hold. TOP BUYS this week, in addition to the above, include Midland Exploration Inc. (MD:TSX.V). In addition, for those underinvested in the gold equity space, you should take advantage of the current pullback; the GDX index is down 20% since the Iran bombing began at the end of February. If you do not already own, best buys would be OR Royalties (OR:TSX; OR:NYSE), Fortuna Mining Corp. (FSM:NYSE; FVI:TSX; FVI:BVL; F4S:FSE), and Agnico Eagle Mines Ltd. (AEM:TSX; AEM:NYSE). Note that these stocks may slip a little more, but if you are not invested, you should at least start a position now. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Agnico Eagle Mines Ltd., Franco-Nevada Corp., Wheaton Precious Metals Corp., Lara Exploration Ltd., Orogen Royalties Inc., Metalla Royalty & Streaming Ltd., Midland Exploration Inc., OR Royalties, Fortuna Mining Corp., and Agnico Eagle Mines Ltd. </li> <li>Adrian Day: I, or members of my immediate household or family, own securities of: All. My company has a financial relationship with: None. My company has purchased stocks mentioned in this article for my management clients: All. I determined which companies would be included in this article based on my research and understanding of the sector.</li> <li>Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy. </li> <li> This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting" target="_blank" rel="noopener">here.</a> Adrian Day Disclosures Adrian Day’s Global Analyst is distributed for $990 per year by Investment Consultants International, Ltd., P.O. Box 6644, Annapolis, MD 21401. (410) 224-8885. www.AdrianDayGlobalAnalyst.com. Publisher: Adrian Day. Owner: Investment Consultants International, Ltd. Staff may have positions in securities discussed herein. Adrian Day is also President of Global Strategic Management (GSM), a registered investment advisor, and a separate company from this service. In his capacity as GSM president, Adrian Day may be buying or selling for clients securities recommended herein concurrently, before or after recommendations herein, and may be acting for clients in a manner contrary to recommendations herein. This is not a solicitation for GSM. Views herein are the editor’s opinion and not fact. All information is believed to be correct, but its accuracy cannot be guaranteed. The owner and editor are not responsible for errors and omissions. © 2023. Adrian Day’s Global Analyst. Information and advice herein are intended purely for the subscriber’s own account. Under no circumstances may any part of a Global Analyst e-mail be copied or distributed without prior written permission of the editor. Given the nature of this service, we will pursue any violations aggressively. <img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30811"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30811" width="0" height="0"> ( Companies Mentioned: AEM:TSX; AEM:NYSE, ALS:TSX, FNV:TSX; FNV:NYSE, LRA:TSX.V, MTA:TSX.V; MTA:NYSE American, NESN:VX; NSRGY:OTC, OGN:TSXV;OGNNF:OTC, WPM:TSX; WPM:NYSE, ) Mon, 23 Mar 2026 00:00:00 PST