One gold miner just produced its first concentrate at a new copper-gold mine in Greece while ramping up a Canadian copper mine at the same time.

Add a steelmaker whose new aluminum mill finally has every cold mill running while it buys back stock, and a gold major that cut its net debt by more than two-thirds in a year. Each one has a catalyst you can put on your calendar.

POWER DEMAND SURGES

Something new is plugging into the power grid and draining it — something that can devour the electricity of 100,000 homes at once, likely being built in your state right now.  

In some states, bills are already up 20% in a year, and James Altucher believes that's just the start.  

So he's identified the one company in prime position to facilitate a plan that’ll let you flip this rate hike into a profit. 

Washington just moved its critical minerals strategy from PowerPoint to procurement. VaultCo, the operating arm of the Project Vault strategic reserve, is now up and running, with Glencore and Mercuria named as founding partners and $1 billion of their own capital committed.

Behind them stands the Export-Import Bank (EXIM), which is financing the two traders to source, buy, and deliver critical minerals into the reserve. The initial focus is Latin America, and the full initiative is sized at roughly $12 billion.

Layer on the Andes-Atlantic Corridor that the US and Argentina launched on September 23, backed by an EXIM framework that could mobilize up to $7 billion through 2027 for critical minerals, processing, and energy projects in Argentina.

Then add the Nigeria-US mining framework signed on September 24, which pulls West Africa into the same sourcing push.

You are watching the US government transform from a rulemaker into an offtake counterparty. That is a structural shift for anyone owning developers or producers in aligned jurisdictions.

Your takeaway: Follow the offtake, not the press releases. When EXIM is financing the buyer of last resort, the equity risk on qualifying developers comes down. Focus on companies with projects in Argentina, Chile, Brazil, and West Africa that fit the VaultCo mandate.

Prime Minister Mark Carney's government tabled the Building Canada Strong Act on September 21, and if you own anything with a Canadian permitting overhang, this is the news you have been waiting for.

The legislation sets a hard one-year timeline for federal reviews and decisions once a project proponent files a comprehensive submission. That is a step-change from the multi-year drift that has defined Canadian permitting since the 2019 Impact Assessment Act.

Carney also said Canada has signed $50 billion of critical minerals deals in the past twelve months, and Ontario put a loan behind a $410 million processing plant at Marathon. Mark the twelve-month clock as your new baseline for any Canadian project timeline you are underwriting.

Canada is trying to close the gap with the US FAST-41 framework, which already sets binding milestones with a public dashboard. The message to capital is direct. If you have a copper, nickel, or lithium project sitting in the queue, the queue is about to get shorter.

Watch the Yukon in particular. The Casino project, one of the largest proposed copper-gold builds in North America, is now front and center in the national conversation.

Your takeaway: Canadian juniors and mid-caps with advanced-stage federal permits pending just picked up meaningful optionality. If the bill passes on the current timeline, the market will start repricing names with 2027 to 2028 construction decisions inside the next two quarters.

Robert Friedland's team keeps drilling and keeps finding more copper. Ivanhoe Mines announced on September 8 that its Western Forelands discovery in the Democratic Republic of Congo now hosts approximately 12 million tonnes of contained copper, a 30% jump from the May 2025 resource update. Roughly 64,000 meters of diamond drilling did the work. Mark that September 8 print on your Ivanhoe file.

Put that in context for your copper thesis. Twelve million tonnes of contained copper is a world-class number, and Ivanhoe is still finding step-outs. Discoveries at this scale have been rare anywhere on the planet over the last decade.

Copper is trading at $6.60 per pound, just below its recent highs, and the White House plan for a copper tariff has stalled over affordability concerns.

Whether or not a 15% tariff lands on January 1, 2027, the strategic value of new copper tonnes outside China's sphere is only rising. Watch whether copper can push back through its highs as your next trigger.

Your takeaway: Big copper discoveries are getting rarer, not more common. Every incremental tonne at this scale becomes strategically valuable, even in a harder jurisdiction like the DRC. Ivanhoe is not US-listed, but the read-through to any developer with real copper grade in stable geography is bullish.

SEVEN STOCKS SCREENED

This report focuses on a narrow group of stocks identified through a detailed screening process.

Analysts apply a combination of metrics to narrow down potential opportunities.

Past selections have shown strong momentum, but no outcomes are guaranteed.

The newest edition is now open for access.

Eldorado Gold (NYSE: EGO)

Eldorado Gold is at the point in a miner's life where years of spending turn into production. On September 8 it produced first copper-gold concentrate at Skouries in northern Greece, and management is targeting commercial production in the fourth quarter.

The 2022 feasibility study has Skouries averaging about 140,000 ounces of gold and 67 million pounds of copper a year over a 20-year initial mine life. At the same time, McIlvenna Bay in Saskatchewan, which Eldorado picked up when it closed the Foran Mining acquisition in April, shipped its first copper concentrate in June and is heading for commercial production this quarter.

That gives you new copper output from two mines just as copper sits near its highs.

The core business is already paying for the build. Adjusted earnings rose to $0.54 a share in the second quarter from $0.44 a year earlier, and 2026 AISC guidance of $1,670 to $1,870 an ounce leaves a wide margin at today's gold price.

The balance sheet is what you watch: Eldorado ended June with $554.6 million of cash against $1.75 billion of debt after heavy spending at both projects. If the ramps go to plan, free cash flow should step up sharply in 2027, so track Skouries throughput and the commercial production call into the fourth quarter.

Steel Dynamics (NASDAQ: STLD)

The 50% Section 232 tariff on imported steel is giving domestic mills room to hold prices, and Steel Dynamics runs some of the lowest-cost electric arc furnace capacity in the country.

You can see it in the guidance: management expects third-quarter earnings of $5.34 to $5.38 a share, and it has already bought back $261 million of stock this quarter, on top of $350 million in the first half. Results land October 19, so that is your first checkpoint.

The second engine is aluminum. The 650,000-metric-ton recycled aluminum flat-rolled mill in Columbus, Mississippi now has all three cold mills and its first CASH heat-treat line running, and management expects aluminum volumes and profitability to rise sharply in the second half and through 2027.

Most investors still price STLD as a pure steel cyclical. Weigh that against a second business that is only starting to earn before you accept the cyclical discount.

Gold Fields (NYSE: GFI)

Gold Fields is running one of the widest margins among the majors. First-half AISC came in at $1,893 an ounce, and full-year guidance is $1,800 to $2,000, so at today's gold price you are looking at more than $2,000 an ounce of margin.

Production is tracking the upper end of the 2.4 million to 2.6 million ounce guidance range, helped by Salares Norte in Chile, where management raised this year's target to 550,000 to 600,000 gold-equivalent ounces. That ramp is what you are being paid to own here.

The cash is showing up on the balance sheet. Net debt fell to $437 million at the end of June from about $1.5 billion a year earlier, and the company enlarged its additional shareholder returns program alongside the interim dividend. The stock trades with gold, so it will not dodge a deeper pullback.

Your checkpoint is the next quarterly update: if costs stay inside guidance while Salares Norte keeps beating, the dividend and buyback story gets louder.

DOLLAR POWER FADES

In 1910, a secret meeting on Jekyll Island helped lay the groundwork for the Federal Reserve.

Since then, inflation has steadily eroded the dollar’s purchasing power.

Now Tan Gera, CFA©, is showing investors a way to diversify beyond the traditional financial system.

*This content is for educational purposes only. The opinions expressed are from DM Intelligence LLC, doing business as Decentralized Masters, who are not licensed financial advisors or registered investment advisors. The reader acknowledges that DM Intelligence LLC is not responsible for any losses, direct or indirect, resulting from the use of this information, including errors, omissions, or inaccuracies.

*Results are not typical and will vary. Success with digital currencies requires time, effort, and involves substantial risk including total loss of investment. Past performance does not indicate future results. All investments are at your own risk.

*Please click here if you would like to unsubscribe.

• Gold: $4,170/oz. Down about 4% year-to-date from the January opening of $4,350.60, and well off the $5,586.20 high set earlier this year. Central bank demand remains the structural floor.

• Silver: $61/oz. Down about 15% year-to-date from the January opening near $71, and far below the $121 peak set in January. Industrial demand from solar and electronics is holding the floor.

• Copper: $6.60/lb. Up about 17% year-to-date from the January opening of $5.65, sitting just below its recent highs. Tariff timing and the Western Forelands news both keep copper in focus.

• Uranium: Spot near $90/lb, with long-term contract prices at a record $96.50. Reactor restarts and new enrichment contracts keep the fuel cycle tight.

• Lithium: Chinese battery-grade carbonate showed a 19,600-tonne monthly deficit in September per SMM, even with sluggish EV cell demand. Inventory shock story building for 2027.

• Nickel: MMG's proposed $500 million acquisition of Anglo American's Brazilian nickel business highlights how strategic sulfide nickel has become for Western supply chains.

• Tungsten: Cornwall's Redmoor project just received $9.25 million from the US Department of War, confirming what you already knew: tungsten is now a defense-priority metal.

• Platinum group metals: Sibanye-Stillwater's US operations remain the only meaningful domestic PGM source, keeping South African supply firmly on Washington's watch list.

Metal Trend Exploration Focus

Here's the through-line for you this week: Western capital is no longer waiting for markets to solve supply. VaultCo, the Andes-Atlantic Corridor, Bill C-39, and the Redmoor tungsten grant are all pieces of the same puzzle: allied governments underwriting the physical build-out of a non-Chinese critical minerals supply chain.

That capital shift is showing up in equity valuations for anyone with real assets in aligned jurisdictions. The next twelve months will separate developers who can convert political tailwinds into offtake agreements from those who can't. Screen your names for signed offtakes over the next twelve months, not press releases.

— Noah Zelvis, Resource Brief