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Key Points:
Gold and rare earths exhibit positive market momentum with policy shifts in the USLithium supply remains tight, with established producers set to benefit before developers and explorersPast exploration winners such as Azure, Wildcat, and Winsome noted, but current preference is for producersUranium sector faces technical challenges as Paladin (ASX:PDN), Boss (ASX:BOE), and Peninsula (ASX:PEN) work to restart operations
Gold and critical minerals are showing positive momentum in the current resources market, according to Rick Squire of Acorn Capital. Squire points to promising signs in gold as well as a paradigm shift in rare earths, highlighting the US government’s recent involvement with MP Materials and the new benchmark price set for neodymium praseodymium. Squire suggests these moves signal a significant effort by both governments and industry to diversify supply chains and reduce reliance on countries like China, Russia, and Kazakhstan for essential commodities.
On the lithium front, Squire notes that although lithium prices jumped recently, supply remains tight due to the slow restart of mothballed operations. He sees lithium producers benefiting first should prices rise, with developers and eventually explorers following in the recovery. Historical examples such as Azure, Wildcat, and Winsome are cited as companies that previously surged during exploration booms, but Squire maintains that current opportunities lie primarily with established producers.
Turning to uranium, Squire highlights technical risks affecting major producers attempting restarts. Companies such as Paladin (ASX:PDN), Boss (ASX:BOE), and Peninsula (ASX:PEN) have all faced operational challenges, reflecting the complexities unique to uranium compared to more established metals like gold or copper.
