Gerardo Del Real,
Editor
July 22, 2026
Higher gold price, higher silver price, higher copper price, higher yields, higher dollar, higher oil price, higher broader stock indices.
And war.
Something’s got to give.
The gold price is now firmly above the $4,000 level and flirting with $4,200/oz.
Silver is back above $60/oz.
Copper is flirting with $6.30/lb.
The 10-year is at 4.65%.
Dollar index is holding above 101.
War continues to rage with hundreds of U.S. soldiers injured in recent weeks and several dead. That’s just the toll on the U.S. side, yet the VIX sits stable with a 17 handle.
What gives is anyone’s guess, but one thing is for certain: the race to secure critical metals in North America is on.
Just this week, President Trump signed an Executive Order to secure America’s defense supply chains for the cutting-edge equipment that allows the U.S. to dominate the modern battlefield — particularly the critical materials and components necessary to manufacture that equipment.
China simultaneously continues to restrict exports of these exact materials and components.
There are three mandates in the Order.
- The Order limits the circumstances in which the Secretary of War should issue waivers for critical materials from covered nations under 10 U.S.C. 4872, including, in certain cases, requiring mitigation plans to onshore supply chains.
- The Order directs the Department of War to initiate regulatory action requiring more comprehensive supply chain mapping for critical supply chains, as designated by the Secretary of War.
- The Order encourages defense contractors to begin qualifying new domestic sources of critical minerals, materials, and components used in designated national security procurements from domestic and partner nation sources, while also removing regulatory barriers in the qualification process.
The Order is one of several steps this administration (and the prior one) has taken to expedite permitting, cut red tape, and take direct stakes in resource companies (whether we agree with it or not, it’s happening).
The urgency is starting to be seen in the resource space.
GreenLight Metals (TSX-V: GRL)(OTC: GRLMF) surged on news that its Bend copper-gold project was posted to the U.S. Federal Permitting Dashboard as a FAST-41 Transparency Project. That’s the same designation that has helped several other companies fast-track mining permits, which is fantastic news for a company that’s been doing really well with the drill bit, including more good news this morning.
Another copper company here in the U.S. benefiting from the recent efforts is Gunnison Copper (TSX: GCU)(OTCQB: GCUMF).
Gunnison Copper is one of the few domestic U.S. copper producers and developers that is well aligned with the Administration’s focus on strengthening America’s critical mineral and defense supply chains.
That was highlighted by news that it has submitted its certification documentation to the U.S. Department of Energy (“DOE”) for the Section 48C Advanced Energy Project Tax Credit awarded to the Company’s Johnson Camp Mine.
The Section 48C Advanced Energy Project Tax Credit program was established to support investments in domestic manufacturing, critical minerals production, and advanced energy projects that strengthen U.S. supply chains and enhance energy security. Gunnison and Nuton were selected to receive US$13.9 million in tax credits under the program.
Up north in the critical metals space, PMET Resources (TSX: PMET)(OTC: PMETF) has the eyes and ears of major institutions and EDC (Export Development Canada), Canada’s export credit agency and a Government of Canada-owned financial Crown corporation, which facilitated more than C$10 billion in business across the Canadian resources sector in 2024.
EDC is a leading provider of financing solutions to the Canadian mining sector and strategic export industries.
It’s a complicated world out there right now, but one thing is for certain: The need for a secure supply of natural resources is real and will take many years to address effectively.
I couldn’t be more excited about the rest of the year and how the Junior Resource Monthly and Junior Resource Speculator portfolios are positioned for it. I’m also working on a couple of new recommendations for the various publications.
Let's get it,
Gerardo Del Real
Editor, Bizarro World