Gerardo Del Real,
Editor
April 15, 2026
Last week, I told you that as difficult as it can be in this volatile environment, when allocating capital it’s important to separate the noise from what really matters. Despite the lack of a deal with Iran or a coherent message from the White House, the overall indices have erased the losses of the past month.
The DOW is even up 3%! Oil is now back to $92/barrel and the dollar index is struggling to hold the 98 level. Will this recent round of stability hold? No one knows. Well, maybe some people know. Clearly White House insiders are making a killing on both sides of the trade, but that’s not how we play the game.
What I do is position ahead of the trend, identify timelines, mitigate risk, and vet share structures and management to the best of my ability. Which means sometimes I’m early or wrong for a bit. It comes with positioning ahead of a trend, but the payoff when it turns can be substantial.
I’ve been telling you that despite the recent turbulence, the uranium space is boring right now. I've also been telling you that’s a good thing given the yo-yo-like action in other commodities. The boredom is a sign of a clear foundation being laid, and if we dig a little deeper there’s a lot to like in the boring uranium space.
While most people are fixated on the spot market, the long-term market — where the utilities (largest drivers of uranium demand) operate — has quietly put in an 18-year high of $93/lb.
In the lithium space, lithium carbonate is up 44% this year with spodumene up some 52%.
The lithium space is violently cyclical and I’ve been asking you to position yourselves for the next run-up, which I believe we’re at the beginning of.
The critical metals play isn’t going anywhere and the recent war with Iran (with proxies like China, Saudi Arabia, Israel, North Korea, and others on both sides) and the broader Middle East has only reinforced the urgent need to establish domestic critical metals supply chains.
Seen a copper chart lately? Not so bearish anymore. How long did that last?
In the rare earth space, Sprott just launched the first pure-play ETF focused exclusively on rare earth companies outside China, with holdings in Australia, U.S., Chile, Guernsey, and Canada.
Interestingly, the ETF is made up of roughly 44% small caps under $2 billion.
With China controlling 70% of rare earth mining and 90% of refining, there is a real commitment from both private and public capital seeking to position itself for the critical metals ride.
Antimony prices are also back on the rise. Prices are still 36% below the July 2025 record high of $59,750 per tonne, but again, context matters. The recent pullback, which appears over, is still roughly 170% higher than at the start of 2024.
Ditto for gold, which touched the $4,100 level briefly amidst the chaos in the Middle East but has quickly regained the $4,800 level with an eye toward the $5,000 mark. Silver retreated briefly to the $66 level and is now flirting with $80 once again.
There will continue to be noise. Use the noise and the pullbacks to your advantage. That’s what I’m doing.
In a few days, readers of Junior Resource Speculator will be getting a new pick — a gold play with an antimony component in a top-tier jurisdiction, great share structure, and a tiny market cap.
Subscribers of Private Placement Intel will have access to a new financing in the gold space being led by a legend in the mining space. The company has, wait for it… a tight share structure, is in a great jurisdiction, and has a tiny market cap.
We’ve been using the noise to our advantage, and while corrections are never fun to experience, in bull markets they provide the fuel for the next leg up. We’re here.
Let's get it,
Gerardo Del Real
Editor, Daily Profit Cycle