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Drilling Into the Future: The Kaycee Uranium Project Ramps Up as the Industry Realigns

June 11th, 2025
Recently here in June of 2025, Nuclear Fuels Inc. officially kicked off its 2025 drilling program at the Kaycee Uranium Project in Wyoming’s Powder River Basin. For those of us on the ground, this marks more than the start of another drill season—it represents a strategic pivot point in America’s race to revitalize domestic uranium production.

Building on Discovery, Not Just Hype

The 2025 program plans to complete at least 100,000 feet of rotary mud drilling, expanding on successes from late 2024 when the Outpost and Trail Dust Zones were discovered. Both zones returned solid intercepts of roll front-style mineralization—textbook ISR targets.
- Outpost Zone: 0.082% eU₃O₈ over 6.5 ft (GT 0.532) at 767 ft depth
- Trail Dust Zone: 0.0553% eU₃O₈ over 5.5 ft (GT 0.304) at 886 ft depth
These aren’t headline-grabbing grades, but they’re meaningful, especially when contextualized within a district that hosts over 430 miles of roll fronts across a consolidated 55-square-mile land position. ISR uranium is a volume game, and Kaycee is one of the few districts in the U.S. where all three historically productive formations—Wasatch, Fort Union, and Lance—are present and mineralized.

This is no small feat. It’s been four decades since this patch of uranium country was under single-company control. That historical fragmentation is exactly why it has been overlooked—until now.

Fast-Tracking the Future? The Role of Fast-41 and Domestic Policy

It’s also no accident that this kind of momentum is happening in Wyoming, a state that not only supports energy development but also operates under “Agreement State” status, streamlining the ISR permitting process in partnership with the NRC.

Policies like Fast-41—first implemented under the Trump administration to accelerate federal reviews for critical infrastructure—are back in the conversation. And they matter. Fast-41 designations don’t just cut red tape; they elevate a project’s visibility, encourage inter-agency cooperation, and unlock capital that would otherwise sit on the sidelines due to regulatory uncertainty. In today’s geopolitical climate, where nuclear energy is being rediscovered as the linchpin of a clean and sovereign energy future, the uranium sector is moving from “interesting” to “imperative.”

M&A: Consolidation Brings Clarity

The recent announcement that Premier American Uranium will acquire Nuclear Fuels adds another layer of momentum. Once completed, the merger will create one of the largest pure-play uranium explorers in the U.S. with a portfolio of 12 key projects across several top-tier uranium basins.

We’re seeing a broader trend across the sector:
- Uranium Energy Corp. continues expanding ISR capacity via South Texas and Wyoming acquisitions.
- enCore Energy, our strategic partner at Kaycee, is pivoting from explorer to near-term producer.
- And legacy juniors are being rolled into larger vehicles that can leverage scale and permitting strength.
These moves aren’t just about size—they’re about aligning technical teams, capital, and permitting expertise to match a coming uranium demand cycle that’s being driven by utility restocking, geopolitical stockpiling, and a resurgence of U.S. nuclear builds.

My Role in the Shift

As the Project Manager for Nuclear Fuels, and now part of the integrated team under the Premier American umbrella, my role remains the same in spirit but is growing in scope. I’ll continue overseeing the Kaycee exploration campaign—coordinating drill planning, target modeling, logging, and resource delineation. The groundwork we’re laying now isn’t just about proving pounds—it’s about positioning Kaycee as one of the next ISR uranium projects ready for resource definition and eventual development.

Being a Qualified Person under NI 43-101, I’ve reviewed and signed off on the technical content of our news releases, but I’m also deep in the field: managing contractors, monitoring lith logs, and piecing together the kind of geologic story that excites engineers and investors alike.

And I believe in that story.

A Foundation for the Next Cycle

We’re not in the discovery-for-discovery’s-sake phase anymore. The uranium sector is tightening, and developers with real ground, real data, and real people doing the work are rising to the top. The Kaycee Project has the hallmarks of a future ISR producer: favorable host formations, supportive jurisdiction, strong partnerships, and aggressive yet responsible exploration.

So here’s to another season of mud, probes, logging runs, and long drives between rotary rigs. If you’re watching the uranium space, keep your eye on Kaycee. The pieces are coming together.

Mark Travis, CPG
Project Manager – Nuclear Fuels Inc. / Premier American Uranium
Geologist, Permitting Liaison, and Explorer of America’s Energy Future
Fission for the Future: Meta, Nukes, and the AI Power Grab

June 6th, 2025
There’s a strange poetry in the digital dreams of Silicon Valley being powered by the dense, invisible force forged in the heart of an Illinois cornfield.

Meta—the same company that gave us Facebook and our collective descent into the algorithmic abyss—is now hitching its AI ambitions to the atom. In a headline that’s as surreal as it is inevitable, Meta just inked a 20-year power purchase agreement (PPA) with Constellation Energy, locking in nuclear energy from the Clinton Clean Energy Center to help feed its growing fleet of data centers.

And no, this isn’t just another “we’re buying some credits and planting trees” PR stunt. This is baseload. This is carbon-free. This is nuclear—and it’s a signal flare in the night sky of America’s energy future.

When Data Demands a Dynamo

AI is hungry. Really hungry. Think: city-scale electricity loads to run the silicon minds dreaming up everything from deepfake movie scripts to how your toaster should talk to your car. With natural gas still king and renewables playing catch-up, Big Tech is suddenly realizing that if you want round-the-clock, carbon-free electrons—you need to cozy up to uranium.

Meta’s move doesn’t pull power off the grid. Instead, it’s a financial handshake: a promise to pay for the clean attributes of nuclear generation, offsetting their less-green draw elsewhere. It’s not about plugging servers straight into a reactor. It’s about giving that reactor a new lease on life—and making sure those precious electrons stay in the game.

And here’s the kicker: the Clinton plant was already facing the ticking clock of a 2027 relicensing deadline. This deal doesn’t just keep the lights on—it funds relicensing, system upgrades, and possibly even paves the way for a second reactor on site. The term “lifeline” doesn’t do it justice. This is strategic resuscitation.

From Meltdown to Momentum

Meta’s deal follows a similar PPA struck between Microsoft and Constellation to restart the undamaged reactor at Three Mile Island. Yes, that Three Mile Island—the ghost of nuclear nightmares past, now being resurrected not by government fiat, but by the insatiable need for clean, scalable power.

We’re witnessing something remarkable: the pivot of private capital into nuclear stability. It’s not ideology. It’s not politics. It’s demand pressure meeting supply crunch and realizing that the atom still has something to say.

A New Playbook for Clean Energy

Here’s why this matters far beyond Meta’s data closets:
1. It validates nuclear’s role in the clean energy mix. Not just in theory—but in dollars and contracts.
2. It provides a replicable model for other plants facing closure or uncertainty in competitive markets.
3. It opens the door to expanding capacity—whether that’s uprating existing plants, building second units, or finally bringing small modular reactors (SMRs) off the whiteboard and into the dirt.
Constellation’s CEO, Joe Dominguez, called it what it is: billions in capital risk, made bankable only through long-term certainty. And that’s exactly what these PPAs provide. We may not get new nuclear without solving our permitting and political paralysis—but we can shore up what we already have. And that’s no small feat.

Why It Matters to the Rocks and Wires Crowd

For those of us in the mining, exploration, and energy-adjacent world—this is music to our ears. It means demand for uranium is no longer just a function of geopolitical saber-rattling or reactor restarts elsewhere in the world. It’s increasingly being driven by the business case for domestic, carbon-free power.

And let’s be honest—this gives us something new to say when we’re cornered at the barbecue by someone asking, “But isn’t nuclear dangerous?” You can now reply, “Dangerous to ignore, maybe. Even Facebook thinks so.”

Closing Thoughts: AI’s Atomic Appetite

Meta’s deal isn’t just about electrons. It’s about narratives shifting. It’s about legacy infrastructure finding new relevance. It’s about the atom rising again—not as the ghost of Cold War terror, but as the workhorse of our digital future.

The AI age won’t be solar-only. It won’t run on vibes and wishful thinking. It’ll need something denser. More consistent. More resolute.

And nuclear, once cast aside, might just be the steel backbone beneath our silicon dreams.
A New Era for U.S. Uranium: Premier American Uranium + Nuclear Fuels Join Forces

June 5th, 2025
Something big just moved beneath the surface—and not just geologically.

On June 5th, it was announced that Premier American Uranium Inc. (PUR) will acquire Nuclear Fuels Inc. (NF), creating one of the largest pure-play uranium explorers in the United States. As someone who’s had the privilege of serving as Project Manager for Nuclear Fuels, I’m proud to share that this is not the end of a chapter—it’s the doubling down of a mission. And I’ll continue to be actively involved in this newly merged entity as we push forward across the map, the drill deck, and the development pipeline.

What This Means: Consolidation with Purpose

The new company brings together:
- 12 exploration and development-stage projects across Wyoming, New Mexico, Utah, Arizona, and Colorado;
- A land position totaling over 104,000 acres;
- Historic and modern datasets from more than 4,200+ drill holes in Wyoming alone;
- And a rare emphasis on ISR-focused uranium exploration, an area often overlooked but critically needed for the U.S. energy transition.
This isn’t consolidation for consolidation’s sake. It’s strategic integration—combining NF’s flagship Kaycee Project in Wyoming’s Powder River Basin with PUR’s Cyclone Project in the Great Divide Basin, both sitting squarely within America’s most prolific ISR districts.

Why Now? Because Timing is Everything

We’re in a moment.

In the last few months alone:
- Uranium projects in the U.S. are being fast-tracked.
- The Grants Mineral Belt in New Mexico—home to PUR’s Cebolleta Project—has received federal attention via the FAST-41 permitting program.
- And domestic supply security has become more than a talking point—it’s a mandate.
This merger lands at exactly the right time, with exactly the right assets, and exactly the right team.

Kaycee: A Keystone Asset

Let me take a moment to highlight what makes Kaycee so special—because I’ve walked it, mapped it, and logged more than a few of those holes myself.

Kaycee spans a 35-mile roll-front system with over 430 miles of mapped trends, supported by historic drilling and modern work that proves uranium mineralization in all three major sand units: Wasatch, Fort Union, and Lance. That’s a rarity in ISR uranium, and it’s a big part of why this deal makes so much sense.

Our 2023 and 2024 drill campaigns were among the largest ISR exploration programs in the U.S., and the trend is just beginning to heat up. With C$14M in combined cash on hand, the new company is poised to aggressively advance Kaycee and our other high-potential assets in the months to come.

The People Behind the Rocks

This isn’t just about drill footage and roll fronts.

The combined company will be backed by some of the strongest strategic players in the space—Sachem Cove, enCore Energy, IsoEnergy, and Mega Uranium—and led by Colin Healey as CEO, with representation from both the PUR and NF boards. I’m honored to remain involved post-merger, contributing to the continued growth of the project portfolio and the technical strategy that guides it.

Exploration geologists don’t often get to see their work reach critical mass. This is one of those rare and exciting exceptions.

Looking Ahead

U.S. uranium isn’t just coming back. It’s growing smarter. Sharper. More deliberate.

With the Premier-Nuclear Fuels merger, we’re not just stitching together acreage. We’re assembling the kind of exploration-first, production-ready platform that’s been missing from the domestic uranium narrative. A platform with the data, the drilling history, the land, the resources—and the team—to make something enduring.

This is about more than uranium. It’s about how we meet the energy future with boldness, science, and a little bit of grit.

🔗 If you’re following the uranium sector, the time to pay attention is now. If you’re already invested—in industry, interest, or curiosity—this is a story worth tracking.

And if you’re a geologist like me?

You know what this really means: we’ve still got plenty of ground to cover—and we’re just getting started.
Silver in the Slipstream: When the Second Fiddle Sharpens Its Blade

May 31st, 2025
Gold gets the spotlight. Silver gets the surprise attack.

Lately, a quiet tremor has been running through the metals market — not quite a roar, not yet a stampede, but a shift that’s caught the attention of those who know how to listen for the deeper rumble.

As gold flirts with all-time highs and physical inventory on the Comex continues to dwindle, another metal has slipped into position behind it: silver. And if history is any guide, that’s when things get interesting.

The Ratio That Roars

The gold-to-silver ratio, currently hovering around 99:1, is a flashing signal to seasoned metals watchers. This ratio — how many ounces of silver it takes to buy one ounce of gold — has only breached these levels a handful of times in modern history. Each time, it preceded a violent correction. Not in gold. In silver.

In 2008, the ratio hit 84. Within a year, silver doubled.
In 2020, it breached 125 during peak COVID panic. Silver exploded shortly after.

Now, with gold becoming harder to lease, roll, or deliver — and silver still relatively available — some speculate that a shift is coming. Not gradually. Not politely. But kinetically.

Kinetic Capital: The Role Reversal

Gold is the store of value. The deep reserve. The static capital.

Silver? Silver is the pressure valve. When trust in paper markets frays, when delivery fails or premiums spike — silver moves. And when it moves, it doesn’t ask permission.

In 2011, silver went from $18 to nearly $50 in under a year. Not because gold led, but because belief cracked. Demand shifted. Leverage unwound. And the second fiddle started swinging like a saber.

We may be seeing echoes of that now:
- Inventories are falling.
- Delivery pressure is building.
- Central banks are stocking up gold — and the shadow trade is sniffing around silver.
Not a Conspiracy — a Cycle

Let’s be clear: this isn’t about silver being “suppressed” by some nefarious cabal. That narrative is worn thin.

But structurally, silver is smaller, more industrially consumed, and thinner in liquidity than gold. That makes it volatile — and volatility is where opportunity lives, especially for investors and explorers who know how to ride the rip.

This isn’t just about prices. It’s about positioning. If gold is the safe bet for a nervous world, silver is the swing trade for a restless one.

What It Means for Explorers

For those of us in the trenches — geologists, explorers, financiers of the rocks that power our world — this is a blinking green light. Investors love a comeback story, and silver’s got one written into its veins.

The question is not if silver will run again.
The question is: are we staked, staffed, and ready when it does?

Final Thought

If gold is the sentinel guarding wealth, silver is the insurgent — underestimated, undervalued, and when the moment is right… unleashed.

So tighten your boots, dust off the maps, and maybe—just maybe—rethink that silver project you shelved in 2016.

Because when the pressure releases, it won’t be polite.
Oak Flat, Copper Dreams, and the Long Road to Resolution

May 27th, 2025
By Mark Travis | May 27, 2025

“If mining is the front end of every supply chain, then permitting is the front end of every bottleneck.”

The U.S. Supreme Court has just handed down a decision that echoes through copper country like a rock hammer in a silent drift: they won’t hear Apache Stronghold’s final appeal to halt the Resolution Copper project in Arizona. That means, after decades of debate, delay, and deep division, the project may finally break free of its legal chains.

But before we pop the champagne—or grab the pickaxe—it’s worth pausing to ask: why did it take nearly 20 years to reach this point? And what does this drawn-out saga say about the future of domestic mining in the United States?

A Copper Giant, Chained by Red Tape

The Resolution Copper deposit is no minor prize. Tucked deep beneath Arizona’s Tonto National Forest, the mine holds what’s believed to be the third-largest copper deposit on Earth. If brought online, it could supply 25% of U.S. copper demand for decades—a critical win in a world marching headlong into electrification, AI hardware, EVs, and renewable energy.

Yet since the early 2000s, this project has been stuck in slow-motion—a labyrinth of environmental reviews, legislative wrangling, tribal legal challenges, and shifting political tides.

Yes, mining must be done responsibly. Yes, communities deserve a voice. But what we’ve witnessed here is something else entirely: a cautionary tale of policy paralysis and bureaucratic stagnation.

Oak Flat: Sacred Ground, or Stalled Progress?

At the center of the controversy is Oak Flat, known to the Western Apache as Chi’chil Biłdagoteel. It’s sacred land. And that’s not metaphorical—Apache Stronghold has argued passionately and consistently that mining operations would obliterate a ceremonial site tied to generations of cultural and spiritual practice.

Their legal case, filed in 2021, invoked religious freedom and treaty rights, even citing an 1852 federal agreement promising protection and prosperity to Apache lands. Lower courts sided with the government, citing Congress’s 2014 defense spending bill, which included a provision for the land swap that enabled the project. That bill—quietly signed by President Obama—was the bureaucratic key that opened the door for mining.

But the Supreme Court’s refusal to hear the case signals the end of the legal line. With that, the mine’s developers—Rio Tinto and BHP—can move forward. The U.S. Forest Service is expected to reissue the Environmental Impact Statement (EIS) as soon as June 16.

$2 Billion Invested. Zero Pounds of Copper Mined.

It’s worth stating plainly: over $2 billion has already been sunk into Resolution Copper, and not a single pound has made it to market. Let that sink in.

For perspective, that’s enough to build three medium-sized uranium mills, fund 100 junior exploration programs, or pay for an entire domestic supply chain initiative. Instead, it’s just the cost of waiting.

In a world where China streamlines mining permits in months, and resource-rich nations in Africa are fast becoming the new frontiers for copper giants, the U.S. cannot afford 20-year approval cycles.

If we want energy security, technological independence, and real momentum toward a low-carbon economy, we need permitting reform that preserves environmental and cultural values without stalling progress into geological purgatory.

The Bigger Picture: America’s Mineral Awakening

Resolution is just one battle in a much larger resource war. The U.S. needs copper, uranium, lithium, REEs, and graphite—not just to decarbonize but to defend, to manufacture, to compete. And yet, we’ve allowed a thousand roadblocks to rise: overlapping jurisdictions, lawsuits without end, missing timelines, and agencies afraid to make a decision.

Rio Tinto knows this. That’s why they’ve hedged their bets: expanding into Peru with La Granja, going full-speed underground in Mongolia with Oyu Tolgoi, and investing in next-gen leaching tech like Nuton to squeeze copper from the margins.

If America wants to be a leader in this new mineral age, it must not just produce—it must permit. Not recklessly, but responsibly and resolutely.

Let’s Talk:
- What lessons can we take from Resolution Copper’s permitting saga?
- Should sacred lands be permanently protected from development, even when national resource needs are at stake?
- What would a just, streamlined permitting process actually look like in the U.S.?
- Is the real battle over minerals—or over who gets to decide?
Let’s open the floor. The future is underground—but we’ve got to start digging smarter.
Uranium’s Renaissance: Anfield’s Velvet-Wood Approval Signals a New Era for U.S. Energy Independence

May 25th, 2025

In a move that feels like the opening scene of a modern-day energy epic, the U.S. Department of the Interior has granted a swift green light to Anfield Energy’s Velvet-Wood uranium and vanadium project in Utah. This isn’t just another mining approval; it’s the first to benefit from a newly implemented 14-day environmental review process, a stark contrast to the years such assessments typically consume.

Why does this matter? Because it’s not just about one mine; it’s about setting a precedent. This expedited approval could be the catalyst that reignites domestic exploration and production of critical minerals, particularly uranium—a resource that’s poised to become the linchpin of our energy future.

The Velvet-Wood Project: A Glimpse into the Future

Anfield Energy’s Velvet-Wood project isn’t starting from scratch. It’s a revival of the historic Velvet mine, coupled with the development of the nearby Wood deposit. Together, they boast an estimated 4.6 million pounds of uranium oxide equivalent (eU₃O₈) in measured and indicated resources, with an additional 552,000 pounds in inferred resources. The vanadium-to-uranium ratio stands at an impressive 1.4:1, adding another layer of value to the operation.

But the real game-changer? The plan to reopen the Shootaring Canyon uranium mill, one of only three licensed, permitted, and constructed uranium mills in the U.S. This facility will process the ore into uranium concentrate, reducing our reliance on imports—a staggering 99% of the uranium used by U.S. nuclear power plants in 2023 came from countries like Russia, Kazakhstan, and Uzbekistan.

A New Frontier for Exploration

This fast-track approval doesn’t just benefit Anfield; it sends a clear signal to the entire industry. The message? The U.S. is serious about securing its mineral future. For geologists, explorers, and investors, this is a clarion call to action. The regulatory landscape is shifting, and with it, the opportunities for domestic exploration are expanding.

Imagine the untapped potential in regions like the Colorado Plateau or the Wyoming Basins. With streamlined permitting processes, these areas could see a surge in exploration activities, leading to new discoveries and a revitalized domestic mining sector.

Investing in Uranium: The Next Oil Boom?

Drawing parallels between uranium today and oil in the early 20th century isn’t just poetic—it’s prophetic. Back then, early investors in oil companies reaped astronomical returns as the world transitioned to petroleum-based energy. Today, as we pivot towards low-carbon and nuclear energy solutions, uranium stands at the cusp of a similar boom.

Consider this: the global oil and gas market recorded revenues of $5.95 trillion in 2024 . The U.S. oil and gas sector alone is valued at over $1.5 trillion. If uranium follows a similar trajectory, early investors could see returns that mirror those historic oil booms.

The Bigger Picture: Energy Security and Sustainability

Beyond the financial incentives, there’s a broader narrative at play. Fast-tracking projects like Velvet-Wood aligns with national interests—reducing dependence on foreign adversaries, bolstering energy security, and promoting sustainable, low-carbon energy sources.

As we navigate the complexities of the 21st-century energy landscape, uranium offers a bridge between our current fossil-fuel dependence and a future powered by clean, reliable nuclear energy.

In Conclusion

Anfield Energy’s Velvet-Wood project isn’t just a mining operation; it’s a symbol of what’s possible when policy, industry, and innovation converge. For those with the foresight to see the writing on the wall, the uranium sector offers not just a lucrative investment opportunity but a chance to be part of a transformative chapter in America’s energy story.
Executive Orders and Atomic Ambitions: Is Nuclear’s Second Golden Age Upon Us?

May 23rd, 2025
The winds of energy policy are shifting, and they’re carrying a whiff of enriched uranium. President Trump is poised to sign a series of executive orders that could set the U.S. nuclear power industry ablaze—not with radiation, but with opportunity.

From streamlined reactor approvals to Cold War-style fuel independence and rumors of a massive domestic uranium procurement program, it’s starting to look a lot like the 1950s again… only with more AI, and (hopefully) less fallout propaganda.

A National Emergency? Nuclear Declared Critical

The heart of Trump’s upcoming orders is a declaration of national emergency under the Defense Production Act—an old-school move with new-age implications. Why? Because we’re too dependent on foreign sources (read: Russia and China) for enriched uranium, advanced reactor components, and nuclear fuel processing.

In a twist of Cold War déjà vu, the orders direct the Departments of Energy and Defense to identify federal lands for nuclear development and fast-track permitting. We’re talking serious logistical streamlining—enough to make the NRC blush.

AI, the New Atom Smasher

Driving this urgency is the massive power demand boom from Artificial Intelligence and data centers. Energy Secretary Chris Wright compared it to a “Manhattan Project 2”—an apt analogy, as the race is on to power a future built on silicon and servers.

AI doesn’t sleep, and it sure doesn’t like blackouts. That makes carbon-free, always-on nuclear power one of the few realistic contenders for the throne.

Loan Guarantees, Federal Land, and Red Tape Cutters

This isn’t just rhetoric. The orders encourage the DOE to dust off the Loan Programs Office and firehose funding into the sector through guarantees and direct loans—something underutilized in Trump’s first term but now brimming with cash thanks to legislation from the prior administration.

Combine that with potential reform of the Nuclear Regulatory Commission, and the game may soon be played on a whole new field. A friendlier, faster, more results-driven one.

Back to the Future: AEC Vibes & the 200 Million Pound Bombshell

Perhaps the most exciting chatter? The rumored government plan to purchase 200 million pounds of U₃O₈ annually for a new U.S. strategic reserve.

Yes, you read that right. This would harken back to the golden days of the Atomic Energy Commission, when the government was the uranium market. Back then, exploration companies scrambled like claim-staking cowboys across the Western U.S., from the Colorado Plateau to Wyoming’s Wind River Basin.

If even a fraction of this deal materializes, it could supercharge domestic uranium exploration and development. Companies already holding past-producing assets or with NI 43-101 pounds in the ground could see unprecedented upside.

Opportunity for the Ready

This moment will favor the prepared, the proven, and the patient. If you’ve got:
- Historic data and proven pounds in the ground,
- Permitted projects or past-producing mines,
- Geologists who know how to follow yellowcake trails…
Then you’re not just in the game—you’re on the edge of the next energy boom.

A Bipartisan Bridge?

Nuclear’s newfound spotlight is notable for crossing political lines. Democrats love it for its carbon-free reliability. Republicans champion it as a baseload powerhouse immune to cloud cover or calm winds. With AI and grid resilience uniting technocrats and climate hawks, nuclear just might be the great reconciling reactor in the room.

Final Thought: The Market Moves Faster Than Policy

Executive orders are one thing. Implementation takes time. But markets don’t wait. If this news sparks action—and it will—investors, developers, and explorers should already be positioning themselves. The reactor of opportunity is online. The rods are loaded. The only question is: are you ready to flip the switch?
Fool’s Gold or the Real Deal?

May 21st, 2025
Why Bitcoin’s Glitter Fades While Gold (and Critical Minerals) Keep the Lights On

Introduction: The Digital Mirage vs. Earth’s Treasury

There’s a great modern irony unfolding: a generation raised on instant downloads and swipe-left attention spans has fallen head over heels for digital “currencies” backed by… nothing. Enter Bitcoin and the crypto carnival—neon-lit, meme-fueled, and increasingly mistaken for sound investment.

Meanwhile, the quiet titans—gold, silver, uranium, lithium, cobalt, and other critical minerals—are doing the heavy lifting, literally powering our homes, vehicles, and technologies… with hardly a TikTok in their name.

So what gives? Why does the speculative sparkle of crypto outshine the grounded value of the periodic table? And why should smart money be getting back to basics—into assets you can dig up, hold in your hand, or build a civilization on?

Let’s dig in.

Bitcoin: The Mirage in the Machine

Bitcoin was sold as digital gold. But while it may share scarcity by design, it lacks everything else that gives gold its enduring status: physicality, utility, and millennia of trust.
- Speculative by Nature: Bitcoin has no intrinsic value. It’s not a claim on anything, produces no yield, and its price is based purely on belief—an elegant code wrapped in mystique and memes.
- Volatile as a Vegas Weekend: Your retirement plan shouldn’t depend on tweets from billionaires or Reddit threads named “YOLO Options.”
- Zero Use Value: Can you build an EV battery with Bitcoin? Fuel a power plant? Nope. It’s just data in the ether—no matter how many laser eyes grace your profile pic.
Crypto may be digital wizardry, but the economy doesn’t run on wizardry. It runs on wires, steel, rare earth magnets, and minerals mined from the bedrock of reality.

Gold: The Original Store of Value

Gold, on the other hand, doesn’t need a pitch deck. It’s the OG of money metals.
- Intrinsic and Timeless: From ancient pharaohs to central banks, gold has been the store of value when the chips are down and empires fall.
- Finite and Tangible: It’s rare, it’s real, and it doesn’t disappear in a server outage.
- Crisis-Proof: Gold has weathered inflation, war, pandemics, and digital delusions. You don’t need a password to access it—just a safe.
It’s not flashy. It’s not cool. But it’s real. And in the end, reality always wins.

Critical Minerals: The Future Isn’t Digital—It’s Physical

Now let’s talk about the real “cryptos”—the ones buried in the crust, not the cloud. Lithium, cobalt, uranium, copper, silver, and the rare earths that make modern life possible.
- Uranium: Fuels the cleanest baseload energy on Earth. You can’t build a decarbonized future without it.
- Lithium & Cobalt: The blood and bones of battery tech. No electric cars, phones, or green grids without them.
- Rare Earths: Every wind turbine, smartphone, and F-35 jet has them. They’re not rare in occurrence, but rare in processing, politics, and supply chains.
- Silver: Half money metal, half industrial workhorse—used in solar, medicine, and high-tech gear.
These aren’t speculations. They’re necessities. The market may not be hyped, but that’s the opening for those with vision.

Why Younger Investors Miss the Mark

Younger investors are attracted to crypto because it’s:
- Easy to access
- Shiny and disruptive
- Marketed as anti-establishment
But the truth? It’s highly centralized, insecure, and largely controlled by a few tech oligarchs and algorithmic traders. Crypto promises freedom, but delivers volatility and groupthink.

Meanwhile, investing in real assets requires homework, patience, and—God forbid—a look at a drill map. But that’s where the real wealth lies: in things the world cannot live without.

Smart Money Knows: You Can’t Mine on a Blockchain

Institutions, billionaires, and governments aren’t hoarding NFTs. They’re buying copper projects in Chile, locking down uranium offtakes, and scrambling for lithium concessions like it’s the second gold rush. Why? Because they know:

Real value lies in the physical world.

It takes steel to build. It takes fuel to move. It takes minerals to electrify, digitize, and defend nations.

Final Thoughts: Get Grounded

Crypto may be sexy, but it’s skating on speculation. Meanwhile, the value of mined materials is growing every day—quietly, steadily, inevitably—as the demands of a technological and energy-hungry planet increase.

So the next time you’re tempted to invest in a jpeg or a vapor coin, ask yourself:

Can this power a nation, build a grid, or survive an economic shock?

If not, maybe it’s time to come back to Earth.
Literally.

Mark Travis is a Certified Professional Geologist, sober explorationist, and unapologetic advocate for the rocks that run the world. Follow his musings at www.mineralexplorationgeology.com and on LinkedIn for more gritty truths and geologic gospel.
Yellowcake Resilience: The Quiet Strength Behind the Uranium Rebound

May 19th, 2025

Keep calm and carry (trade) on.

That’s not just a clever twist on the wartime motto—it’s the underlying rhythm pulsing through the uranium market in 2025. After a bumpy start to the year, uranium equities have staged a powerful comeback, and beneath the surface, a quiet storm of structural strength is gathering force.

Equities on the Rise (But Still Under the Radar)

Uranium equities have roared back with a +19% rally in just the last month, shrugging off early-year blues that had developers and producers down double digits. Volatility? High. Opportunity? Even higher. With short positions still elevated and valuations near beginning-of-cycle lows, there’s room for the sector to stretch its legs—and maybe even break into a sprint.

Spot Price: From Slump to Springboard

March 17 marked a 550-day low in spot uranium prices—$63.45/lb U₃O₈—a dip driven by buyer hesitation, tariff jitters, and forced sales. But that floor didn’t hold for long. Since then, spot has rebounded to over $70/lb, buoyed by increased buying and renewed confidence. This rebound, crucially, isn’t yet baked into equity prices, which still lag behind the long-term value curve.

The Carry Trade Carries On

Traders have become the unexpected stewards of spot market stability. Nearly half of all 2025 spot purchases have flowed through carry trades, with volumes hitting an annualized pace of 10 million pounds—a level not seen in recent memory. With a carry-trade break-even hovering around $71-72/lb, we’re seeing a quasi-price floor being established. Not exactly moonshot material, but it’s laying down ballast for a more stable ascent.

Meanwhile, utilities—those careful stewards of long-term supply—are back sniffing around spot levels, now more inclined to engage directly or lock in carry agreements. Their 2025 spot volumes have already reached 75% of last year’s total, and it’s only May.

Term Market: Pressure Building Below the Surface

Behind the scenes, the term market is coiling like a spring:

Demand is rising from reactor restarts, life extensions, and China’s unrelenting nuclear expansion.

Primary supply remains fragile, hobbled by geopolitical entanglements, permitting delays, and production shortfalls.

Secondary supply is thinning, with inventories drifting toward the bottom of target ranges.

Incentive prices are creeping higher, as developers hold back and majors like Cameco stay disciplined.

The contracting cycle is behind the curve, with new deals failing to keep pace with burn-up rates.

With term prices hovering around $80/lb for the better part of a year, the stage is set. What we’re waiting on is the spark: utility RFPs, geopolitical détente, or simply a market realization that “wait and see” is no longer an option.

A Sector Poised, Not Paused

If uranium has a habit, it’s this: sitting quietly for a while… and then surging when no one’s looking. And this year? We’re due. With traders providing liquidity, utilities cautiously re-engaging, and term fundamentals tightening, we may just be at the foothills of the next breakout.

So, keep calm. Carry trade on. And don’t blink—because the next leg up might just be the one that redefines the cycle.
Tungsten Tightrope: A 12-Year High and a Looming Strategic Squeeze

May 17th, 2025
If you’ve been watching the metals markets lately—and let’s be honest, in this line of work, who isn’t—you might’ve caught the sharp glint of tungsten flashing across the headlines. Prices have just hit a 12-year high, and the story behind it reads like a geopolitical thriller with economic veins running straight through defense, tech, and green energy.

The Numbers Don’t Lie
Let’s start with the basics: tungsten concentrate prices in China have surged 26% since January, reaching $20,400 per tonne, while ammonium paratungstate (APT) prices in Europe have climbed 18% since February. This isn’t a fluke—it’s a flare.

The core issue? Supply dominance meets strategic vulnerability. China controls over 80% of global tungsten production, and they’ve begun reining in exports with tightened quotas in response to U.S. tariffs and mounting international tensions. When the world’s tungsten tap gets turned down, the rest of us scramble for buckets.

The Critical Metal Nobody’s Talking About
Tungsten doesn’t get the fanfare of lithium or rare earths, but it should. With the highest melting point of any metal and a density comparable to gold, tungsten is irreplaceable in a range of mission-critical applications:
- Armor-piercing projectiles and aerospace components in defense
- High-performance alloys in manufacturing and electronics
- Heat-resistant electrodes and filaments in energy technologies
Oh, and if you’re building wind turbines, tungsten’s there too—making it quietly indispensable in the renewable revolution.

Meanwhile, in the U.S.… a familiar refrain
Domestic tungsten mining ceased in 2015, and despite its designation as a critical mineral, the U.S. still leans heavily on imports—primarily from China and Russia. Sound familiar? It’s a play we’ve seen before in uranium, rare earths, and battery metals. Rinse, repeat, regret.

The U.S. is now signaling intentions to cut its dependence on adversarial suppliers, but that pivot takes time. Infrastructure must be rebuilt, permitting streamlined, and domestic production incentivized. Until then, we’re flying with foreign fuel in our tanks.

A Glimmer of Supply Security: Almonty Industries
Enter Almonty Industries, a name suddenly in bright lights. The company has inked a key offtake agreement to supply tungsten oxide for U.S. defense applications, sending its stock soaring 140% this year with a current valuation of $709 million. It’s a big move—but not big enough to fix the global crunch.

Even with Almonty ramping up, the supply/demand imbalance remains stark. Strategic stockpiles are thin. New mines take years. And demand? It’s only growing—driven not just by bullets and blades, but by circuit boards and solar arrays.

What’s Next? Building Resilience, One Drill Hole at a Time
This tungsten tale isn’t isolated—it’s part of a larger mineral awakening. As we push into the energy transition, shore up our defense base, and modernize infrastructure, we are being reintroduced—perhaps rudely—to the fact that you can’t digitize a drill rig.

We need to explore. We need to invest. And we need to rethink how and where our mineral lifelines begin.

For those of us on the ground floor of exploration and policy, this is a call to action. Let’s not wait for the next squeeze to tell us what should’ve been obvious all along: strategic metals deserve strategic attention.

💬 What’s your take?
Have you been tracking tungsten’s rise or working with it in your own projects? What lessons can we draw from this for the broader critical minerals landscape? Let’s dig in—pun intended.