TIB - An Investors Journal #792 - Tin Mining, Gold/Silver Mining, Australian Property, Uranium, Base Metals, ASX Stocks, Australian Gas, Europe Index + more

A quiet week for topping up and for going long term on nuclear technology again. Did bank some profits.

Portfolio News

In a week where S&P 500 dropped 1.03% and Europe rose 0.7%, my pension portfolio rose 1.54%. Clearly not enough uranium in the S&P500 index. Performance was dragged down by Northern Star Resources Limited (NST.AX) - down 9.6% on the week after announcing key production problems in their Western Australia gold properties. With a large holding in the pension portfolio this makes a big dent.

Big movers of the week were Grand Gulf Energy (GGE.AX) (33.3%), AdAlta (1AD.AX) (33.3%), Star Entertainment Group (SGR.AX) (30.8%), Bayhorse Silver (BHS.V) (29.2%), Terra Critical Minerals (T92.AX) (28.9%), Earths Energy (EE1.AX) (28.6%), TechGen Metals (TG1.AX) (28.1%), Global Atomic Corporation (GLO.TO) (23.6%), Casino, Guichard-Perrachon (CO.PA) (21%), Premier American Uranium (PUR.V) (20.6%), Fermi (FRMI (15.7%), RocketBoots (ROC.AX) (15.7%), Energy Fuels (UUUU) (13.9%), Haranga Resources (HAR.AX) (13.9%), Lightning Minerals (L1M.AX) (13%), Pantera Minerals (PFE.AX) (13%), Denison Mines Corp (DNN) (12.6%), Panther Metals (PNT.AX) (12.5%), Viking Mines (VKA.AX) (12.5%), AuKing Mining (AKN.AX) (12.5%), Anfield Energy (AEC) (12.2%), IsoEnergy (ISO.TO) (11.5%), Kairos Minerals (KAI.AX) (11.4%), Nickel Industries (NIC.AX) (11.1%), Boss Energy (BOE.AX) (11%), enCore Energy Corp (EU) (11%), Ur-Energy (URG) (10.9%), Coronado Global Resources (CRN.AX) (10.8%), VHM (VHM.AX) (10.5%), Bitmine Immersion Technologies (BMNR) (10.2%), Elixir Energy (EXR.AX) (10%)

31 stocks in the big movers list makes for a big week. A few surprises and the big themes are represented - from the top - silver/gold mining (7 stocks), uranium/nuclear (11 stocks), rare earths (3 stocks). A few news driven events - new pharma deal, new CEO. Interesting to see two Australia gas plays in the list.

US markets did the book balancing sell off into the year end and traded up on the first trading day of the new year.

Crypto recovers

Bitcoin price pushed higher all week finishing the week 2.4% higher than the open with a trough to peak range of 7.6%. Price is testing what was a resistance line - will it break and retest?

Ethereum price pushed higher all week finishing the week 3.8% higher than the open with a trough to peak range of 10.7%. Some way to go to test the next resistance level.

A few altcoins seemed to take the signal to bottom out - Polkadot (DOTUSD) for example popping 35%

And Ripple (XRPUSD). Quite a few charts looking like this with the build from the week being flowed into the new week.

Nuclear Energy Holdings

A few changes in holdings - one sale - and a big 5.7% change in valuations.

A few changes in the mix of holdings - one big one is 1 point rise in share of portfolios. Energy Fuels (UUUU) moves up a place into slot 3. Paladin Energy Ltd (PDN.AX) drops a place into slot 8 with the sales there. Iso Energy (ISO.TO) returns to the top 10 with its big jump in value displacing Range Nuclear Renaissance ETF (NUKZ)

Note: Microsoft price feed stopped working - had to put in prices another way - small chance there are errors.

Change in holdings by stage has a few small changes - biggest is 0.4 points increase in Technology and 0.3 point drop in Physical

Alternate Energy Holdings

No changes in holdings and a modest 0.5% increase in valuations.

Mix of holdings sees a few changes with JinkoSolar Holding Co., Ltd. (JKS) going back to slot 1. Sigma Lithium Corporation (SGML) moves up two places to slot 4. Share of portfolios drops to 7.5%

Bought

Andrada Mining (ATM.L): Tin Mining. Stumbled across a podcast discussing Neo Energy (NEO.L). Included was a review of results from this Namibian tin miner. Added a small parcel in personal portfolio. Put together a comparative chart of this stock, my one tin holding and a recently sold one.

Closing the gap will yield a healthy profit. The company also has possibilities in other key rare earth and lithium tenements.

Andrada Mining Limited engages in the exploration, development, and production of mineral resources in Namibia. The company explores for lithium, tin, tantalum, rubidium, tungsten, copper, petalite, and spodumene deposits. Its flagship asset is the Uis Tin Mine that covers an area of approximately 19,700 hectares located in the Erongo region, Namibia

Black Bear Minerals (BKB.AX): Silver Mining. Next Investors idea from a few weeks back - reminder note.

3 main projects - silver in Texas, gold in Nevada and lithium. There are prospects for reopening the silver processing plant. Bought a small parcel in personal portfolio and have put in a pending order below this entry - in case price pulls back

Ingenia Communities Group (INA.AX): Australian Property. Price has been drifting up and down around the previous entry in personal portfolio. Added another parcel to average down.

Standard Uranium (STND.V): Uranium. Added a small parcel in managed portfolio after seeing the stock make big movers list week.

ERAMET S.A. (ERA.PA): Base Metals. Added to holding in pension portfolio to average down entry price and to run with copper prices. Wrote covered call for 0.7% premium with 7% price coverage.

Honeywell International (HON): US Industrials. Rounded up holding in pension portfolio to be able to write covered calls on the whole holding.

Lightbridge Corporation (LTBR): Nuclear Technology. With price opening at $13.45 put in place in pension portfolio a August/February 15/20/12.5 call spread risk reversal. This offers maximum profit potential of 318% for 48.7% price move on the call spread. The sold put (12.5) fully funds the call spread premium with 7.1% price coverage. Breakeven should the put go to assignment will be $12.20

Let's look at the chart which shows the bought call (15) as a purple ray and the sold call (20) as a pink ray and the sold put (12.5) as a dotted purple ray with the expiry dates the dotted green lines on the right margin. They are marked with the purple arrows. Wanted to go out further in time the trade already showing on the chart. Trade set up is not ideal as the sold put (12.5) is not sitting below a support level. The key is the top of the spread is well within the last run up and the portfolio does have an open-ended stock holding. Have modelled the price scenario reaching down to the 0.786 Fibonacci level before reversing - will only need one such move to win. The other trade will need two and may run out of time before expiry.

Casino Guichard-Perrachon SA (CO.PA): French Supermarket. Been watching price the past few weeks plumb to an all time low and then begin to reverse. Positive news flow about reducing debt burden and selling Cameroun based cash and carry business. Looks like the Renouveau 2030 plan is getting serious traction

Chart shows price failed to hold the breakout after my first entry - the arrows are the MACD divergence. Maybe this time price will move off the support level and hold momentum. Position increased by one third in pension portfolio and is still small.

ASP Isotopes (ASPI): Nuclear Technology. Been watching price here also stuttering. With sold puts at appreciably higher levels with January and April expiry outstanding, added a parcel of stock in pension portfolio (double position size) as a precautionary averaging down. This might seem like a risky move but the position size is quite small and am convinced about the long term future of the business (notwithstanding the South African complications)

Just happened to have MACD open when cutting over to the chart - this is showing major divergence. My instinct about slowing momentum is borne out by the indicator

DevEx Resources (DEV.AX): Uranium. Allocation from SPP in pension portfolio more than doubles the holding - tidily in-the-money. Smaller allocation in personal portfolio

Neo Energy Metals (NEO.L): Uranium. Since stock was restored to listing on LSE, price has been on the move - the chart shows a move of 129% giving away under one third. Note: the chart does not show the days stock was suspended from Jan 31 to Dec 17. Added an additional one third position in personal portfolio at around the initial positions from January 2025.

Why? The research report I mentioned last week indicated the potential to commence production in 2027 at a reasonable run rate and at a low AISC. The low cost is because the mine is based in the old Beatrix gold mine in South Africa and there are substantial gold credits available.

If this proves to be the case Neo will close the gap on this chart to bellwether Cameco Corp (CCJ - the dark blue line) - or at least close half the gap - comparison goes back to previous lows for Energy Metals (NEO.L). Closing half the gap is a doubling in price - clue was the top blue arrow on the first chart.

Sold

Elixir Energy (EXR.AX): Australian Gas. Closed out portion in personal portfolio to capture recent profit surge. 100% profit on a LIFO basis since February 2025 and blended 15% loss since October/November 2023/July 2024 with only first tranche profitable. Average cost of remaining holding is well below the sale price and there are some options expiring in 2026 which could reach exercise price. Next Investors idea - they remain invested.

Rapid Critical Metals (RCM.AX): Base Metals. Exit in personal portfolio for 32.6% profit since December 2025 - not interested in investment in mining businesses in a few African countries - this is one such - see TIB791. Next Investors idea - they remain invested

Paladin Energy (PDN.AX): Uranium. Trimmed position size in personal portfolio locking in 13.7% blended profit since August/September 2023. On a LIFO basis, profit would be much larger. Closed out small holding in Toronto listing in small managed portfolio at 52 week high for 3.1% profit since December 2024 - shares allotted on merger with Fission Uranium. Will add the proceeds to another Canadian listed uranium stock.

ASX Portfolio

The segment reports trading in ASX fractional share portfolio. Trade entries are made based on stock screens looking for undervalued stocks (price to book, price earnings, price to sales) that are showing technical signs of breaking a downtrend. Exits are made at 35% profit or 25% if 52 week high is lower than 35% advance. New buys are in $500 lots. Scale ins and top ups in $250 lots

Top Ups

Kogan.com Ltd (KGN.AX): Retail. Dividend yield 3.50%

Averages down entry price. Chart shows a big run after the first two entries coinciding with the run to Christmas holidays 2024 - then the falling over. Kogan runs aggressive sales campaigns though the holidays. Maybe this is the time for the next recovery run. Could well be exiting this at breakeven rater than a 52 week high exit.

Reece Limited (REH.AX): Building Products. Dividend yield 1.30%

Averages down entry price - the chart shows the inverted head and shoulders did not play out last time with price breaking through support, retesting it once and falling over. Price has since made a reversal with a higher low - maybe this time.

Sold

No sales

Hedging Trades

Hercules Metals Corp (BIG.V): Silver Mining. Added to holding in personal portfolio after stock made big movers list last week. One chart to check its position against the iShares Silver Trust (SLV) going back to the last time silver retested the support (the horizontal red line).

Close half the gap will take out the July 2025 highs.

GoGold Resources Inc (GGD.TO): Gold Mining. Replaced stock sold a few weeks back in pension portfolio at 3% discount. Why? This chart comparing SRM Mining (SSRM) with GoGold Resources (GGD.TO)that I shared in

- a huge gap to be closed.

Read a Substack this week highlighting the extent to the silver resource in Mexico - this is not a gold mining investment

Vanguard FTSE Europe ETF (VGK): Europe Index. With price opening at $83.87 (Dec 29) put in place a February 2026 83/81 ratio put spread. The chart is getting a little toppy and the Russia/NATO story is getting uncomfortable - time for a hedge.

Let's look at the chart which shows the bought put (83) as a red ray and the sold put (81) as a blue ray with the expiry date the dotted green line on the right margin. Have cloned in a few of the steeper price moves in recent months - one of those will take the trade to assignment of the sold put. As this is a ratio there is sold put risk to the extent of the ratio

Income Trades

Covered Calls

Six covered call written across two portfolios (Europe 1 US 5 )

Naked Puts

Sold puts happy to own at lower prices

• Commerzbank AG (CBK.DE): German Bank. Return 0.76% Coverage 7.7%
• Deutsche Bank AG (DBK.DE): German Bank. Return 0.94% Coverage 2.6%
• Coeur Mining, Inc. (CDE): Silver Mining. Return 1% Coverage 22.3%
• Lloyds Banking Group plc (LLOY.L): UK Bank. Return 1.04% Coverage 1%
• Aurora Cannabis Inc. (ACB.TO): Marijuana. Return 3.43% Coverage 13.5%
• Mirion Technologies, Inc. (MIR): Nuclear Technology. Return 1.78% Coverage 5.9%
• NuScale Power Corporation (SMR): Nuclear Technology. Return 2.5% Coverage 19.3%
• Gevo, Inc. (GEVO): Specialty Chemicals. Return 3.3% Coverage 35.3%

NANO Nuclear Energy (NNE): Nuclear Technology. With price closing at $26.40 (Dec 29) a July 2026 expiry sold put opportunity caught my eye. Premium offers a return of 20.5% (just shy of 3% per month) with price coverage of 30%. This implies that the market thinks price could drop below Q2 2025 lows.

Chart is not pretty but the trade was compelling. What it does do is lever up the bought call (40) that is outstanding - top of the chart.

Kicked the can down the road on sold puts that could go to assignment

• ASP Isotopes Inc. (ASPI): Nuclear Technology. 6% profit on buy back. 4.1% cash positive.
• Cameco Corporation (CCJ): Uranium. 31.5% profit on buy back. 14.8% cash positive - down 3 strikes

Credit Spreads

A few new credit spreads created

• Duolingo, Inc. (DUOL) ROI 81.8% Coverage 0% - a bit tight - thought it was one strike out-the-money not ATM
• Novo Nordisk A/S (NVO): Pharmaceuticals. ROI 23.5% Coverage 2.4%

Resources

Cautions: This is not financial advice. You need to consider your own financial position and take your own advice before you follow any of my ideas

Images: I own the rights to use and edit the Buy Sell image. News headlines come from Google Search. All other images are created using my various trading and charting platforms. They are all my own work

Tickers: I monitor my portfolios using Yahoo Finance. The ticker symbols used are Yahoo Finance tickers. Crypto tickers come from TradingView

Charts:

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December 29, 2025 - January 2, 2026