Happy Friday, Apes! Pour the double-double, dust off the core boxes, and let's see who hit something overnight.

Silver ripped to a weekly high near $66.50/oz on a widening global deficit, gold held just under $4,385, and a permitted BC silver mine just woke up from a 13-year nap to start drilling.

On the energy side, a heavy-oil producer quietly drilled two winners without needing $100 oil, a midstream giant renewed its buyback license, and financing got sweeter because investors wanted more of it.

🥇 Gold (spot): $4,385/oz 📈
🥈 Silver (spot): $66.50/oz 📈
🔌 Copper: $6.59/lb 📈
☢️ Uranium (U₃O₈ spot): $89.90/lb 📈
🛢️ WTI Crude: $100.10/bbl 📉
🔥 Na

ned. The Silver Institute now projects a 46.3 million-ounce deficit for 2026, wider than last year's 40.3 million-ounce gap.

Exchange vaults in Shanghai and London keep draining as metal flows to Asia, and most silver comes out of the ground as a byproduct of gold, copper, lead and zinc mining, so supply barely responds even at these prices.

Layer on record industrial demand and a Fed that just hiked rates without spooking the metals complex, and you've got a genuine structural squeeze, not a Reddit thread.

What it means for your position. Every silver junior in your portfolio just got a better cost-of-capital story to tell the market.

A widening deficit is the kind of macro tailwind that turns "interesting project" into "let's finance it." Watch for financing windows to open wider for silver-heavy names over the next few weeks.

👉 Read the full story

Headwater Gold ($HWG.CSE ( 0.0% )) engaged Geomorphic AI to chew through decades of scattered historical exploration data (drilling logs, geochem, geophysics, the works) across its Nevada and Idaho portfolio, ground that Newmont, Centerra and OceanaGold are already earning into.