Table of Contents

The global script plays out as anticipated, only faster

As macro headlines become a psychological battlefield, the real story isn’t panic: it’s the massive acceleration toward the sovereign pivot.

While mainstream advisors preach defensive retreat or safe-haven stagnation, the delta between paper promises and physical reality is widening into a canyon. This is precisely why we double down on the hunt for the hard-asset breakouts that drive real opportunity. In an environment where copper and gold are acting as the ultimate geopolitical hedges, the market noise isn't a distraction—it's a flashing beacon for the junior resource sector.

Spotting the spark requires a cold, analytical lens. It might start with a technical report catching your eye, an unusual volume spike on a neglected ticker, or a quiet lead from an advisor. Sifting through the static to find the gems of right geology, right jurisdiction, and right track record.

This hunt is precisely the mandate of TAKESTOCK. Through our hallmark platforms like the Calgary Investor Forum and Vancouver Showcase, we pull you out of online echo chambers and put you directly across the table from operators — the executive teams delivering results.

Our cohort of issuers has proven the power of this approach time and again: yielding superior multi-bagger averages for those who listened to the early stories, did their homework and selected prudently. But we don't live in the rearview mirror. We focus on unfolding horizons, some of which we share with you here.

This month’s Journal is designed to cut through pedestrian fluff. Inside, you’ll find sharp thoughts, direct corporate updates and a roadmap to upcoming live “IRL” events.

» care to sample the lighter end of our classic music vault (q.v. video)?

» plus a more ejukative Outro.

But first, let’s kick off with more AI insight, followed by another glimpse of issuers you’ll bump into at this year’s SAMPEDE!

Stay curious, keep digging!

— The Editor

STOCK TAKE
AI — Quietly Cutting the Cost of Being Public

Small-cap public companies have always fought a tough battle — limited resources, heavy compliance demands, and the constant pressure to communicate effectively with investors. The good news? Artificial intelligence is changing that equation.

In our day-to-day operations, we now use AI to prepare news releases from raw material information, significantly cutting drafting time while maintaining accuracy and tone. Corporate filings for exchanges and securities commissions are another area where AI shines — it organizes data, flags inconsistencies, and helps generate compliant first drafts. On the marketing side, AI helps create corporate presentations, fact sheets, website copy, slogans, and even enhanced or generated visuals for digital campaigns.

These tools aren’t replacing judgment — they’re removing repetitive grind work that used to eat up expensive professional hours.

The next leap is even more powerful: autonomous AI agents like OpenClaw. This open-source agent runs 24/7, controlled entirely through familiar chat apps like Telegram or WhatsApp. Imagine an AI team member that answers routine investor inquiries instantly, monitors the web for peer company financing news, identifies potential new contacts, and surfaces relevant intelligence without being asked.

The real impact is financial. By lowering the operational cost of staying public, more capital stays available for exploration, development, or growth initiatives. The burden of being public shifts from a fixed high cost to a much smaller percentage of your budget.

For small-cap issuers, this isn’t science fiction — it’s happening now. Companies that thoughtfully integrate AI into their IR, compliance, and marketing functions will operate more efficiently and communicate more effectively than their peers.

The learning curve exists, but the payoff is clear: more capital deployed where it creates the most value. Small caps that embrace this shift won’t just survive — they’ll have a genuine competitive advantage.

Dean Stuart IR/BD

Get Informed, Stay Ahead

Exclusive Preview — SAMPEDE’26

TS30 multibagger : EPLEagle Plains and Sun Summit Make Greenfields Discovery at the Orbit Project, Toodoggone District... Read more

TS30 multibagger : SIGSitka Gold Updates Rhosgobel Gold Deposit Mineral Resource Estimate to Include Tungsten and… Read more

TS30 multibagger : KDK — Kodiak Copper and Teck Enter into Non-Binding Letter of Intent to Create New US-Focused Copper Exploration Company. Read more

PTXPTX Metals Announces Additional Closings of Private Placement. Read more

SCRI — Silver Crown reports first quarter results and delivers record quarterly revenues. Read more

STND — Standard Uranium Announces Life Offering. Read more

DMCU — Domestic Metals Closes Private Placement. Read more

VLTA — Volta Metals Strengthens Senior Team with Appointments of Philip Ng as VP Projects and Dr. Julie Selway as VP ExplorationRead more

STUD — Stallion Uranium Recommences Drilling at Moonlite Project. Read more

GCU — Gunnison Copper Promotes Craig Hallworth to CEO and Strengthens Leadership to Advance Flagship… Read more

BRW — Brunswick Exploration is pleased to announce additional results from the 2026 winter drilling campaign at the Anatacau Main Project, located in the Eeyou Istchee-James Bay… Read more

CERT — Cerrado Gold Cerrado Gold Announces Q1 2026 Production Results at Its Minera Don Nicolas Mine in Argentina. Read more

FTCO — Fortitude Gold reported its first quarter 2026 results including $3.2 million net sales, $1.7 million in exploration expense, $0.8 million cash dividends to shareholders, $2.2 million… Read more

LIFT — LiFT intersects 26 m at 1.29% Li2O at its BIG East pegmatite, Yellowknife Lithium Project, NWT. Read more

TOC — Tocvan announces new surface gold-silver results, outlining new target 3km east of main zone at Gran Pilar… Read more

BROKER TALK
It’s Friday

May 15th

and the TSXV index closed at 988.83 and the CSE at 172.84. Well down from their highs. I mean, you have to go back to 2007 to see a high in the TSXV. Back then it hit 3347.73. The TSX, Dow Jones, and S&P 500 are at, or near, all time highs. Even the Russell 2000 is at an all time high.

We are in the hottest resource market in years, and this is what we get? I remember thinking back to around 2015 when no one cared about mining or oil and gas juniors. We were all waiting for the next cycle to come around. We knew it would, because it always does. There were, of course, false starts when the precious metals started to move and then backed off. That must have happened four or five times. There were of course a few instances of junior market glory when the cannabis market caught fire and turned out to be a flash in the pan.

Then finally, we got a sustained move up in commodity prices, the big cap companies started to move and have done exceptionally well. Junior market players were waiting for the filter down effect to take place. And, it hasn’t. At least not to the degree we thought it would after waiting years. Remember the dotcom bubble? Certainly, several junior mining companies have done extremely well but is it as broad based as it should be considering where gold and prices are? Junior oil and gas companies aren’t getting the traction they should be, either.

All of these conditions are discussed heavily among our critical thinking group during our $4 Local lager after hour sessions. Like most brokers, we talk about the winners we are having and what could be wrong with positions that are currently down. Misery loves company in this business. Optimism is high, however, as the fundamentals support a great market going forward.

But is there a bigger picture at play that we’re not considering? Why aren’t our junior markets humming? We’re all aware of the knowns – over regulation, the advent of crypto currencies, etc. Or is it possible the younger generations are risk averse? It seems hurdles are constantly popping up that will not allow for effective capital markets in Canada. Is it any wonder that $1 Trillion of investment has left Canada from 2015 to 2025 because of Liberal policies. BC’s DRIPA - Declaration of Indigenous Peoples Act could be the nail in the coffin for their mining industry. And, on and on it goes.

Bottom line is UNCERTAINTY. Companies spending millions of dollars in a country, province, industry cannot accept the degree of uncertainty that exits in Canada today. Their survival depends on it.

Have a great long weekend and as always, drop in and join the critical thinking group for a pint of $4 Local lager.

CAPITAL MARKETS DAD
Meet the Capital Markets Dad

who’s spent over a decade working in the demanding world of capital markets without spilling coffee on his notes (well, usually).

At home, he skillfully balances financial materials while refereeing his kids, chasing his dogs, and sneaking in a round of golf whenever he can. You’ll often find him quoting The Simpsons while sporting his favourite hoodie, paired stylishly with “business sweatpants,” his way of justifying sweatpants.

TAKESTOCK Media spotlights new and interesting initiatives like CMD, a platform for professionals juggling careers in capital markets with family life.

Visit capitalmarketsdad.com for more information.

UPCOMING EVENTS
TAKESTOCK Investor Series 2026
stay tuned for news about forthcoming shows and your opportunity to grill execs, network, compare notes and so much more!

RANDOM WALK
.. on the wild side

Autopsy of the Garden

If previous columns from the vineyards of Kutaisi and depths of Panama suggested a world in transition, our current vantage reveals a more clinical reality: the Garden is being reclaimed by the jungle.

Consensus in the West remains mired in ‘consensual denial’, a belief that the post-1945 order was a permanent law of nature rather than a seven decades short geopolitical anomaly enforced by US strategic might. The Garden won’t be restored by a few more rate cuts and ESG mandates.

As we watch the wild side of 2026 unfold, it’s time to pause looking for the golden fleece and perform a back alley autopsy on globalization: it was a strategic bribe the United States paid to win the Cold War. With that faded into the rear-view, America is withdrawing its global insurance policy. And the world returns to fragmented trade and localised power.

But the real ‘reaper’ isn't a carrier group, it’s 28 Rules.

In the post-globalized jungle, old assumptions and alliances are being sifted. Not just amongst nation-states, but also between individuals and their polities. The Iran Cascade we discussed last month is just a preview of the wild side to a world in transition.

And it’s becoming imperative to reassess where we stand: literally what is the safety and security of the ground you call home and just how much can its (physical and financial) systems be trusted to work in your true interest. Particularly as more of the proverbial global s*** hits the fan.

Whither sovereignty

It’s a story for another day, but let’s just assume that Individual Sovereignty roughly equates to a Roman Centurion’s annual salary (in gold) times a lifetime. A goodly sum. Which also, surprisingly or not, happens to approximate “one’s weight in gold” ~3048 ozt.

For the shepherd of wealth and one’s secure global footprint: moving from deci-sovereign to demi-sov is the difference between struggling to escape the matrix and dominating the landscape.

At 1624 oz, you are no longer a victim (enfeoffed chattel) of the State. Rather, you possess the ability to act beyond its alluring chains and sweet nothings (let’s call these air miles/point systems and pensions/public healthcare, respectively).

You become your own Secretary of State, Treasury, and Defense. You "subscribe" to jurisdictions and select amongst efficient service providers.

As our walk picks up pace, the wild side is where real opportunities live for those with the courage to acknowledge that the garden is gone.

The Random Walker

Pack light, stay mobile and Go Where You Are Valued Best SM

Outro

Whither, wother sovereignty

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