Gerardo Del Real,
Editor
April 22, 2026
Our country's infrastructure is in need of substantial investment. Healthcare is becoming less affordable by the day… and ditto for every type of insurance, gas, beef, etc.
Our government’s response? Let’s get into an unnecessary and unwanted war we can’t afford. And just for kicks, let’s put up $500 million to bail out Spirit Airlines. Spirit Airlines? Out of all the places you can invest $500 million.
Which leads me to my weekly point that we are nowhere near the top of this commodity bull market.
Gold, which briefly touched the $4,100/oz level a few weeks back, is comfortably sitting above $4,700 and looks like it’s gearing up to make another run at the $5,000 level.
Silver had a $65/oz handle a few weeks back. It’s now at $78.
Copper is at $6.05/lb, uranium’s long-term contracting price just touched a three-year high, rare earths continue to be in the news for all the wrong reasons, and the lithium deficits I’ve been telling you were coming are here in 2026.
Even the bearish bankers are starting to agree. Canaccord expects lithium markets to slip into deficit this year and remain there until at least 2035, calling for “significant investment in new supply.”
U.S. Trade Representative Jamieson Greer has told American allies they must pay more for critical minerals sourced from outside China, The Financial Times reported on Wednesday.
U.S. allies must be ready to pay a “national security premium” for the minerals, which would be sourced from within a proposed group of trading partners including Europe, Greer told The Financial Times in an interview, adding:
“There is a premium we pay, and I call it the national security premium, and we will all pay a national security premium to have a secure supply chain.”
Just this week, USA Rare Earth announced plans to buy Serra Verde in a deal worth $2.8 billion in cash and shares as it seeks to challenge China’s dominance of the supply chain.
The Oklahoma-headquartered company said it will pay $300 million in cash and $126.9 million in its own newly issued stock for the transaction, which it expects to complete in the third quarter of 2026.
Serra Verde Group CEO Thras Moraitis said the U.S. government has been very active in trying to spur upstream investment, particularly when it comes to creating floor prices for rare earths.
“Rare earths represent a strategic nexus where national and energy security, and technological supremacy, converge,” Moraitis added in a statement.
Back to gold where M&A is also starting to ramp up.
Agnico Eagle Mines Ltd. has struck a series of deals worth about $3 billion to build a regional gold mining hub in northern Finland.
Agnico will acquire Rupert Resources Ltd. in a share-based transaction valued at about C$2.9 billion, alongside a C$481 million cash purchase of Aurion Resources and a $325 million deal to buy B2Gold Corp.’s 70% stake in Fingold Ventures.
The premiums paid were substantial with Rupert leading the way with a 67% premium to its last closing price.
Upon closing of these transactions, Agnico Eagle will own, in addition to the Kittila mine, the Ikkari gold project, along with a large, highly prospective land package totaling approximately 2,492 km².
M&A will continue to accelerate as miners with flush balance sheets go after quality resource bases in top-tier jurisdictions.
Prices will not go straight up, and I expect volatility in the commodity space to continue. But I also expect higher prices over the next several years.
So what to do with all of the chaos and noise and geopolitical uncertainty? Focus on share structure, management, and jurisdiction.
Subscribers of Private Placement Intel just received access to a gold deal in Nevada with a mill worth more than the tiny post-raise valuation of C$8 million, and it is being led by a serially successful legend in the mining space.
That deal will be open for the next week or two.
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Let's get it,
Gerardo Del Real
Editor, Daily Profit Cycle