SIGNAL OF THE DAY

Trump's $12 billion Project Vault includes uranium among 50+ critical minerals. UUUU is the only US-licensed processor of rare earth monazite. The stockpile creates artificial scarcity for processing capacity. Energy Fuels' $299M acquisition of Australian Strategic Materials creates the world's first vertically integrated "mine-to-metal & alloy" rare earth supply chain outside China. White Mesa expansion targets 6,000 tpa NdPr production by 2029.

COVERAGE PULSE

**POET** ($5.69, +1.97% WoW): January $150M raise at $7.25/share funds 800G shipments in H2 2026. LightCounting forecasts AI optical transceivers doubling from $5B to $10B in 2026. OFC 2026 exhibition March 16-19, POET at Booth 339.

**UUUU** ($21.35, -2.8% from $21.97 close): Earnings February 27th. Consensus -$0.07 EPS vs -$0.19 prior year. Goldman Sachs bullish on rare earth processing amid Trump's minerals stockpile. White Mesa remains the regulatory chokepoint for US REE independence.

**AG** ($29.42 at Feb 23 highs): Q4 record 4.2M silver oz (+77% Y/Y) drives dividend increase from 1% to 2% of quarterly revenue starting Q1 2026. Silver at $80.76/oz. Los Gatos acquisition amplifies leverage to silver price swings. Direct-to-consumer mint captures $3-5/oz retail premium.

**PLSR** (CAD $0.95, +10.47%): February 20th raised £7.4M ($10M USD) at £0.80/share for Topaz development. Six-for-six success rate on pressurized gas hits. Jetstream #6 at 1.3 miles from discovery confirms geological model.

WHAT THE MARKET IS NOT TALKING ABOUT

Trump's Project Vault targets copper for AI datacenters, requiring 330,000-420,000 tons by 2030. **POET's optical interposers provide copper substitution at the silicon level.** Uranium comprises 19% of US energy. America is import-dependent on Russia. Nuclear baseload for AI datacenters creates structural demand that bypasses renewable intermittency.

ON THE RADAR — Next 7 Days

**February 27, 2026**: Energy Fuels earnings call 9:00 AM MT—first quarterly report since Trump stockpile launch and ASM acquisition

**February 27, 2026**: First Majestic Silver dividend record date for Q4 2025 payout of $0.0083/share, final distribution before 2% revenue policy

**March 15-19, 2026**: OFC 2026 Los Angeles Convention Center—POET at Booth 339 with Teralight awards presentation March 16th

---

DamonSkye Research. Not investment advice.

The author may hold positions in securities discussed in this publication. All positions, if any, will be consistent with the analytical thesis presented. DamonSkye Research discloses material holdings at the time of publication. This is not investment advice. See full disclaimer.