Source: Actionable Intelligence Alert | Date: January 17, 2026

Key Takeaways

Uranium and copper are breaking out strongly in early 2026, with uranium futures hitting 18-month highs and potential to reach $100/pound
Federal Reserve's continued money printing and debt refinancing challenges (25% of US debt maturing in next 12 months) support long-term gold bullish case
Commodity super cycle appears underway but cautions against euphoria - volatility expected with significant corrections possible
Major energy policy shift emerging as electricity affordability becomes political issue, driving need for 15+ billion in new baseload power generation
Argentina achieving back-to-back budget surpluses for first time since 2008, signaling broader Latin America economic opportunity

Market Views

Uranium: Targeting $100/pound spot price in 2026, called it best performing resource market for the year
Gold: Long-term bullish due to monetary system issues and debt refinancing needs
Oil: Longer-term bullish despite current weakness, expects new all-time highs in 3-5 years ($100-200/barrel)
Copper: Extremely bullish due to supply discovery decline (only 315M tons found 2003-2025 vs 910M tons 1990-2003)
Commodities generally: In super cycle but warns against straight-line thinking

SPUT (Sprott Physical Uranium Trust): Up 6.8% last week, raised $146M in first two weeks of 2026
URA/URNM ETFs: Up 10% and 8.9% respectively last week
UEC (Uranium Energy Corp): Up 21% last week
Denison Mines: Up 11.8% last week
Kazatomprom: Making new highs, world's largest uranium producer
Major oil companies (Exxon, Chevron): Up 4-18% despite 20% oil price drop, generating $96B free cash flow
TPL and Landbridge: Mentioned as water solutions plays in Permian Basin

"This is the most out of balance commodity market resource market that I've ever seen" - on uranium supply/demand
"There's no need to drill when margins are basically gone" - Harold Hamm on shutting down Bakken drilling operations for first time in 30 years

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