This is a top-down commodity overview — the bulk of the piece is the five metals themselves (listed below as commodities, no ticker). A handful of companies are cited as context (the Westinghouse nuclear deal's owners; named gold-mine expansions), not as buy/sell ratings. "View" reflects how each was framed. The "At" link opens the article. Research: QT Qualtrim · SA Seeking Alpha · STK Stock Analysis.
| Ticker | Name | Research | View | What she said | At |
|---|---|---|---|---|---|
| Silver | Silver (commodity) | — | Positive | Ended 2025 at $72 (intraday record $84 in Dec); a five-year structural deficit, record industrial demand, and the fact most silver is a copper/lead/zinc by-product (supply can't respond to price) point prices higher — favors miners closer to high-quality production. | read |
| Uranium | Uranium (commodity) | — | Positive | Bullish on uranium, enrichment and nuclear-tech firms after the $80B US-Westinghouse partnership; ~40-45% of global enrichment is still controlled by Russia's Rosatom, favoring companies with secured Western fuel chains. | read |
| Copper | Copper (commodity) | — | Positive | Closed >$12,000/ton on the LME for the first time (Dec 23, 2025); Wood Mackenzie sees a 250-300kt annual deficit from 2026 over the following decade — an opportunity in junior miners in neutral jurisdictions. | read |
| Platinum | Platinum (commodity) | — | Positive | A 700koz 2025 deficit (third straight year); ~70% mined in South Africa where Eskom power instability is cutting output, while US Phase 3 / Euro 7 emissions rules lift PGM demand — sees upside in North/South American PGM miners. | read |
| Gold | Gold (commodity) | — | Positive | Broke $4,000 (Oct 8) and $4,500 (Christmas Eve) in 2025; central banks bought ~950-1,050t (~25% of demand) while mine supply rose only ~1% — the entire 2026 supply increase could be absorbed in weeks at current buying pace. | read |
| CCJ | Cameco | QT · SA · STK · FA | Neutral | Cited as context — a co-owner of Westinghouse Electric (with Brookfield) behind the landmark $80B US government nuclear-reactor buildout partnership; an illustration of the nuclear policy tailwind, not a rated pick. | read |
| BAM | Brookfield Asset Management | QT · SA · STK · FA | Neutral | Cited as context — the other Westinghouse Electric owner (with Cameco) in the $80B US nuclear partnership; named to illustrate the scale of US nuclear recommitment, not as a rated pick. | read |
| GFI | Gold Fields | QT · SA · STK · FA | Neutral | Cited as a supply data point — its Salares Norte mine in Chile was one of the few capacity additions of the past two years, yet not enough to materially change constrained global gold supply. | read |
| BTG | B2Gold | QT · SA · STK · FA | Neutral | Cited as a supply data point — its Goose project in Canada enters commercial production in 2026 (ramping toward ~300koz/yr), one of the limited new additions that still won't move the global gold balance. | read |
| Westinghouse Electric | Westinghouse Electric (private) | — | Neutral | Subject of the $80B US government nuclear-reactor partnership (Oct 2025) — the first large-scale US-backed recommitment to reactor construction in a generation; owned by Cameco and Brookfield. | read |
| Rosatom | Rosatom (Russian state nuclear; private) | — | Neutral | Cited as the supply risk — the Russian state conglomerate controls ~40-45% of global uranium enrichment, the bottleneck Western utilities are working to design around (favoring secured Western fuel chains). | read |
"View" reflects how each was framed (Positive = a commodity Prins is bullish on into 2026; Neutral = a company/entity cited as context or a supply data point), not a price rating. Built from the article's free/public portion; specific stock picks and buy-up-to prices are reserved for Premium/Founders+ subscribers. Research: QT Qualtrim · SA Seeking Alpha · STK Stock Analysis.
A jargon-free summary of why each commodity is on her radar. (Plain-language companion to the table above; renders on each name's consolidated page.)
Silver is in a years-long shortage: the world uses more than it digs up, and demand from solar panels, electronics and power grids keeps climbing. The catch is that most silver isn't mined on its own — it comes out as a leftover when companies mine copper, lead and zinc. So even if silver gets expensive, miners can't just go dig more of it; they'd have to mine more copper first. That trapped supply, plus China tightening exports, is why Prins thinks prices keep heading up and the best-positioned silver miners benefit most.
Uranium is the fuel for nuclear power, and the US just committed $80 billion (via Westinghouse, owned by Cameco and Brookfield) to build a new fleet of reactors — the first big US nuclear push in decades, largely to power AI and keep the grid reliable. The problem: Russia's state company Rosatom still controls roughly 40-45% of the world's uranium enrichment (the processing step), which the West is scrambling to replace. Prins is bullish on uranium and on companies that mine, enrich, or build reactors using secure, non-Russian supply chains.
Copper is the wiring of electrification — power grids, transmission lines, EVs and AI data centers all need huge amounts. It just hit a record over $12,000 a ton. Meanwhile the biggest mines (in Chile and Peru) are getting less metal out of each ton of rock, and new mines take years to approve and build. Forecasters expect the world to come up 250,000-300,000 tons short every year starting in 2026. Prins sees that growing gap as an opportunity, especially in smaller "junior" miners operating in politically safe countries.
Platinum is mostly an industrial metal — it goes into the catalytic converters that clean car and truck exhaust. The world has run short of it three years running, and about 70% of it comes from South Africa, where chronic power outages keep cutting output. At the same time, new US and European emissions rules force makers to use more platinum-group metals per vehicle. Tighter supply plus rising mandated demand is why Prins likes platinum and, specifically, miners in North and South America (a safer place to source it than South Africa or Russia).
Gold's run isn't really about inflation this time — it's central banks (especially in Asia) steadily buying it to diversify away from the US dollar, no matter the price. They bought roughly 1,000 tons in 2025, about a quarter of all gold demand. Meanwhile the world's mines barely grew output, and the small increase expected in 2026 could be swallowed up by central banks in a matter of weeks. When demand permanently outstrips what can be dug up, prices stay supported — which is why Prins stays positive on gold and the companies that mine it.
Summary derived from the public (free) portion of the Prinsights Substack article for personal study. Not investment advice; the author's specific recommendations are paywalled. © Nomi Prins / Prinsights for source material.