Aerospace
SR-72 "Son of Blackbird" in 2026: Is It Real? The Evidence
No evidence the SR-72 has flown. We weigh Lockheed's filings, $1.8B in unnamed classified losses, and TBCC limits to assess its 2026 status.
Finance
Finance
Can Critical Metals (CRML) Build Tanbreez? A Technical and Economic Audit of Its Greenland Rare Earth Mine and $1.85B Romanian Refinery
Not yet: CRML's >99% result is dissolution, not separation, and silica, niobium and hafnium, not heavy rare earths, carry its $2.2B refinery model.
Maritime
Terex and Autonomous Port Logistics: Capacity Trucks, the REV Group Merger, and an Incumbency Without a Strategy
Terex owns Capacity terminal tractors via the REV Group merger but has no stated autonomy roadmap. Kalmar, Westwell, and Outrider are defining it.
Industry
Inert-Anode Chemistry and the ELYSIS Smelter in Québec: Can Alcoa and Rio Tinto Deliver Carbon-Free Aluminum by 2027
ELYSIS proved inert-anode smelting at 450 kA in 2025. Whether Rio Tinto's 2027 Arvida plant follows is the harder question.
Finance
Dangote Refinery IPO 2026: Valuation, Africa Fuel Impact, and Risks
How Dangote's 650,000 bpd refinery reshapes African fuel, Nigeria's imports, and the 2026 IPO valuation and risks.
Batteries
ProLogium's €5.2B Dunkirk Gigafactory: 381 Wh/kg, a Capital Gap, and Whether the Cells Are Really Solid-State
ProLogium's €5.2B Dunkirk plant targets Q2 2029 output. We assess the funding gap, the 381 Wh/kg data, and whether its cells are truly solid-state.
Finance
Teledyne Technologies: From Henry Singleton to the Varex Deal, a 2026 Assessment
How Teledyne compounds: $6.12B FY2025 sales, record Q2 2026, the $1.1B Varex acquisition, defense backlog, and the risks ahead.
Industry
Anduril Industries at $61 Billion: Valuation, Revenue, and Execution Risk in 2026
Anduril's $61 billion valuation embeds unit economics not yet proven at scale. An assessment of revenue, contract ceilings, and execution risk.
Minerals
United States Antimony (UAMY): Smelter Margins, DLA Contract Mechanics, and Antimony Price Risk Through 2030
UAMY holds a $245M DLA contract and zero recognized revenue from it. Inside the antimony price collapse, feedstock gap, and 2030 scenarios.
Finance
Riot Platforms, Inc: History, Current Position, and Future Prospects
Mining turned cash negative on a fully loaded basis in Q2 2026. Riot's 241 MW of AI leases are contracted but not yet delivered or financed.
Finance
Why Gold Mining Stocks Move More Than Gold: Commodity-Price Torque, Operating Leverage, and Gold Beta
Why gold miners can outperform, or underperform, gold as operating leverage, commodity beta, and margin elasticity amplify metal-price moves.
Magnets
The U.S. Rare Earth Magnet Supply Chain in 2026: Why Heavy Rare Earth Separation and Metallization Are the Binding Constraints
U.S. magnet capacity announcements top 40,000 tonnes, but domestic dysprosium output is still measured in kilograms. Where the chain actually breaks.