Nefarious Trading Est 2021
⏱ 6 min read Watchlist · Vol. 01 No. 35 · August 2026
SLV$73.63 ▲ +3.4% AG$14.88 ▲ +7.7% CDE$22.48 ▲ +7.1% HL$14.19 ▲ +6.8% AEM▲ +6.5% MP$47.47 ▲ +8.3% USAR$17.69 UUUU$14.11 ▲ +9.3% NAK$1.88 SLV$73.63 ▲ +3.4% AG$14.88 ▲ +7.7% CDE$22.48 ▲ +7.1% HL$14.19 ▲ +6.8% AEM▲ +6.5% MP$47.47 ▲ +8.3% USAR$17.69 UUUU$14.11 ▲ +9.3% NAK$1.88
Metals Watchlist · Filtered & Scored
The Metals Map
Gold $4,800 · Silver $80 · Rare Earth Onshoring
8 trades
14 watches
from 55+ names screened

Gold to $4,800. Silver to $80. We screened 40+ metals names, scored every one, and kept only the trades.

The Metals Map
§ The Theses

Three engines. One map.

Thesis 01 · Precious metals
Gold $4,800 · Silver $80
Gold near ~$4,050 implied (GLD ~$376) means ~+18% to target; silver is already ripping — SLV +3.4% with miners up 4–8% in one day. Miners amplify metal moves 2–3x because their profit margins expand faster than the metal price rises. Early confirmation is on the tape.
Thesis 02 · Critical minerals
US rare-earth onshoring
Washington is funding a domestic rare-earth supply chain to break China's grip — MP is the flagship (magnets, DoD backing), USAR the challenger, UUUU the multi-metal sneak (rare earths + uranium + titanium sands). Different thesis than gold/silver, same direction: up on scarcity.
Thesis 03 · The policy wave
Government checks with dates attached
August 2026: the White House announced billions in critical-minerals deals — Sila $1.4B, Sunrise $400M, Niron $150M, EXIM loans to Westwater and 5E, and USAR's $1.6B funding LOI. The catalyst isn't a forecast; it's signed money. Listed beneficiaries: USAR, UUUU, NAK (permit play), WWR, IE, LAC, UEC.
$4,800
Gold target · ~+18% from ~$4,050 spot
$80
Silver target · miners move 2–3x the metal
$1.6B
USAR government funding LOI · Aug 2026
GOLD ~$4,050
$3,500TARGET $4,800
New to this? Each section has an "In Plain English" box that strips out the jargon.
§ The Verdict — Best Plays By The Numbers

Skip the noise. Here's what the math says, ranked.

RankPlayScoreThe math in one line
#1MP — MP Materials44/45Highest score on the entire map. US rare-earth flagship + government backing + already moving (+8.3% in a day)
#2USAR — USA Rare Earth42/45$1.6B government funding LOI + $1.5B private raise = the biggest confirmed catalyst on the board
#3AG / CDE — silver miners40/45 tiedMiners move ~2–3x the metal. If silver runs to $80, these amplify every dollar of that move — both already up 7%+ in one session
MP — rare earth flagship44/45
44
USAR — $1.6B govt LOI42/45
42
AEM — best gold major41/45
41
AG — purest silver torque40/45
40
CDE — max margin torque40/45
40
UUUU — 3 theses in 138/45
38
NAK — binary permit play38/45
38
HL — largest US silver37/45
37
If you only buy one thing

Want one stock: MP — best score, best backing. Want one click instead of picking stocks: SILJ (junior silver miners ETF) is the highest-torque basket on the map — roughly 2–3x whatever silver does. Simple math example: gold needs ~+18% to hit $4,800; at ~2x torque, gold miner ETFs (GDX/GDXJ) would target roughly +35–45% on that same move. That multiplier — in both directions — is the entire game on this page.

§ The Filter

How we cut 40+ names to 7. Five scores, two auto-ejects.

CriterionWeightWhat it measures
Thesis Torque×3How hard the stock moves when its thesis plays out. High-cost and pure-play miners score high; diversified giants score mid.
Liquidity×2US listing, volume, real options chain — can you actually get in and out.
Momentum×2Already moving with the thesis. We want confirmation, not hope.
Survivability×1Balance sheet strength if the move stalls.
Catalysts×1Upcoming earnings leverage, production ramps, government contracts.

Each criterion scores 1–5; max total 45. 36+ = Trade List. 30–35 = Watch List. Below 30 = cut. Two hard rules eject a name instantly regardless of score: Torque ≤2 (the stock doesn't really express the thesis — this removed every royalty company) and Liquidity ≤2 (OTC juniors you can't exit).

In Plain English

We graded every company on five things: how much it moves when metals rise, how easy it is to buy and sell, whether it's already going up, whether it can survive a downturn, and what news is coming. Low scorers are out. Companies that don't really track the metals — even famous ones — are out automatically.

§ Trade List · Gold

The gold basket. Torque to $4,800.

TickerNameScorePriceDay %Why it made the cut
AEMAgnico Eagle41+6.5%Best-in-class gold major already confirming; ~$90.5B cap

Only one gold name cleared the 36+ trade bar — the rest of the majors (NEM, GOLD, KGC, AU) sit on the watch list on weak same-day momentum, and the high-torque names (HMY, IAG) are one confirmation print away. Gold's cleaner expression right now is the ETFs below.

§ Trade List · Silver

The silver basket. Torque to $80 — the hot leg.

TickerNameScorePriceDay %Why it made the cut
AGFirst Majestic40$14.88+7.7%Most silver-pure large miner — max torque to $80 silver
CDECoeur Mining40$22.48+7.1%High-cost profile = biggest margin expansion as silver runs
HLHecla37$14.19+6.8%Largest US silver producer, moving with the metal
In Plain English

The silver basket is where the action is: all three names jumped 6–8% in a single day. Silver miners swing harder than gold miners because silver itself is the more volatile metal — bigger upside if the thesis lands, bigger downside if it rejects.

§ Trade List · Rare Earths & Policy

MP leads the whole board. Scored on the onshoring + policy thesis.

TickerNameScorePriceMkt CapWhy it made the cut
MPMP Materials44$47.47 · +8.3%$9.4BTHE US rare-earth flagship — mine + magnets + DoD backing. Highest score on the map
USARUSA Rare Earth42$17.69$4.6BUpgraded: LOI for $1.6B US government funding + $1.5B private raise (Aug 2026)
UUUUEnergy Fuels38$14.11 · +9.3%$3.5BThree theses in one ticker: rare earths + uranium + titanium sands
NAKNorthern Dynasty38$1.88 (Jun 29)$1.05BThe binary policy trade — Pebble permit push. Max torque, minimal survivability: lottery sizing only (EPA vetoed it before)
In Plain English

These three are the main American companies building a homegrown supply of the special minerals used in EVs, wind turbines, and military tech. MP is the biggest and furthest along; the government is actively supporting this industry.

§ Watch List

Close, not confirmed. Fourteen names one catalyst away.

TickerScoreBasketWhat would promote it
PAAS · Pan American35SilverSafer/diversified — add if you want silver with less violence
LYSCF · Lynas35Rare earthBiggest non-China producer ($11.5B) — OTC listing caps the score
HMY · Harmony34GoldHigh-cost = max gold torque; needs momentum print
EXK · Endeavour34SilverPurest silver torque; thin balance sheet
NEM · Newmont ($105.43)33GoldThe safe mega-cap; lower beta by design
AGI / IAG33GoldMid-tier torque; awaiting momentum data
SBSW · Sibanye ($9.09)33PGMPlatinum is precious too; balance sheet is the drag
FSM · Fortuna ($9.68)32SilverMoving (+5.5%) but smaller and less liquid
GOLD / KGC / AU30–32GoldLiquid majors, weak same-day momentum
WWR · Westwater ($0.67)35PolicyEXIM-funded graphite — but traded $0.41–0.93 in ONE day. News-spike vehicle
IE · Ivanhoe Electric ($10.84)33PolicyQuality US copper story (Santa Cruz); needs a momentum print
LAC · Lithium Americas33PolicyThacker Pass + DOE-loan history; lithium price is the drag
UEC / CCJ · Uranium31–32PolicyUS nuclear policy angle; CCJ safest, UEC more torque
CRML · Critical Metals ($5.50)31PolicyTanbreez + Ucore offtake LOI — promoted from the cut line by the funding wave
§ ETF Baskets

The one-click versions. Two per metal, as requested.

Gold ETFs

TickerFundWhat it holdsTorque
GLDSPDR Gold Shares (~$376)Physical gold — tracks the metal itself1x — the pure $4,800 bet
IAUiShares Gold TrustPhysical gold, lower fee than GLD1x
GDXVanEck Gold MinersMajor gold miners (NEM, AEM, GOLD…)~2x the metal's move
GDXJVanEck Junior Gold MinersSmall/mid gold miners~2–3x — most torque

Silver ETFs

TickerFundWhat it holdsTorque
SLViShares Silver Trust ($73.63, +3.4%)Physical silver — tracks the metal1x — the pure $80 bet
SILGlobal X Silver MinersMajor silver miners (PAAS, WPM…)~2x
SILJAmplify Junior Silver MinersJunior silver miners (AG, HL, CDE tier)~2–3x — most torque on the map

Other baskets

ThesisETFs
PGM risePPLT platinum · PALL palladium (SBSW = equity proxy)
Rare earth / criticalREMX (the only real basket)
All-precious in oneGLTR — gold + silver + platinum + palladium in a single ticker

Leverage warning: AGQ (2x silver), NUGT/JNUG (2x miners) exist — they are day/short-swing instruments only. Daily-reset decay destroys them as multi-week holds.

In Plain English

ETFs let you buy the whole idea in one click. "The metal" funds track the price of gold/silver itself. "Miner" funds hold the mining companies, which swing harder in both directions. Junior funds (GDXJ, SILJ) swing hardest of all.

§ Full Scoreboard — Every Name, Every Number

The complete screen. All 5 component scores for the trades, totals for everything else.

Component order: Torque (×3) · Liquidity (×2) · Momentum (×2) · Survivability (×1) · Catalysts (×1). Max 45.

TickerBasketT·L·M·S·CTotalPrice / Cap (Aug 2026)Day %
MPRare earth5·5·5·4·544$47.47 / $9.4B+8.3%
USARRare earth5·5·4·3·542$17.69 / $4.6B
AEMGold4·5·5·5·441— / $90.5B+6.5%
AGSilver5·4·5·3·440$14.88+7.7%
CDESilver5·4·5·3·440$22.48+7.1%
UUUURE / uranium / Ti4·4·5·4·438$14.11 / $3.5B+9.3%
NAKPolicy (binary)5·4·4·2·538$1.88 / $1.05B
HLSilver4·4·5·3·437$14.19+6.8%
PAASSilver35$41.15+4.1%
WWRPolicy35$0.67 / $97Mday range $0.41–0.93
LYSCFRare earth35$11.52 / $11.9B
HMYGold34
EXKSilver34
NEMGold33$105.43 / $111.1B+1.1%
AGI · IAGGold33
IEPolicy (copper)33$10.84 / $1.77B
LACPolicy (lithium)33
SBSWPGM33$9.09+6.3% (Jul 31)
GOLDGold32
FSMSilver32$9.68+5.5%
UECPolicy (uranium)32
KGCGold31$25.62 / $30.4B−0.3%
CCJPolicy (uranium)31
CRMLPolicy31$5.50 / $808M
AUGold30$87.59 / $44.3B−1.1%
EGOGold30
NB · FEAM · BTG · MAG · TMCVarious28–30below the bar
FNV · WPM · RGLDRoyaltytorque ≤2auto-cutFNV $231.08 / WPM $125.30+2.0%
PGE.V · SREMF · UURAF · TMRC · SVM · ASMJuniorsliquidity ≤2auto-cutmicro-caps
ALB · FCX · SCCO · TECKOff-thesistorque ≤2auto-cut
In Plain English

Green rows are the buys according to the filter. Yellow rows are solid companies missing one ingredient — usually momentum. Red rows failed a hard rule: they either don't really track the thesis or are too small to trade safely. WPM shows two conflicting prices in our sources — verify before quoting it.

§ The Cut List

What we removed — and why. The cuts teach the thesis.

RemovedReason
Royalty names — FNV ($231), WPM, RGLD, OR, SAND, TFPMAuto-cut: torque ≤2. Excellent long-term holdings, but they deliberately mute metal-price swings — the opposite of what a trade wants.
Copper/diversified — SCCO, FCX, TECK, BHP, RIO, VALEAuto-cut: industrial-metal thesis, not precious. Different trade, different day.
Illiquid juniors — SVM, ASM, TMRC, UURAF, PLG, Talon, Canada NickelAuto-cut: liquidity ≤2. Can't size in, can't get out.
BTG (28) · MAG (28) · TMC (28) · METCScored below 30 — weak momentum, quality-over-torque profiles, or (METC) primarily a coal company.
NB (30) · FEAM (28) · PGE.V · SREMF · ALBNB/FEAM: pre-production micro-caps ($8M EXIM award doesn't change FEAM's size). PGE.V and Sunrise/SREMF: real stories, auto-cut on liquidity — TSXV/OTC size most traders can't exit. ALB: global lithium major = commodity torque, not policy torque.
Sila · Niron · Standard BauxiteThe biggest government checks ($1.4B Sila, $150M Niron) went to private companies — unbuyable. Listed proxies for that money: USAR, UUUU, WWR.
§ My Take

My take — your read.

My Take — to be written
Your call here: which of the 7 you'd actually size into, entries and levels, and how you'd stagger the silver names vs MP. (Left blank on purpose — this section is yours.)

Trade ideas like this, before they hit the timeline.

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Nefarious Trading
Equity research and trading commentary — AI infrastructure, metals & mining, power, enterprise software.
AuthorJohnny Li
Sources
Prices & market caps compiled from Yahoo Finance, StockAnalysis, CNBC, Google Finance, Investing.com, WallStreetZen, MarketBeat, Junior Mining Network (Aug 4–8, 2026 — dates vary by name; live feed unavailable at compile time, so verify current quotes before entry). Rare-earth backdrop: Forbes, InvestingNews, Seeking Alpha (Aug 2026). Scores are the author's framework applied to this data.
One trader's view — not financial advice. Do your own research. Prices are stamped Aug 4–8, 2026 and were compiled from multiple web sources on different dates — treat every quote as stale and re-check before trading. Scores reflect a subjective framework, momentum inputs default to neutral where fresh data was unavailable, and gold/silver price targets are the author's thesis, not predictions of fact. Mining equities are volatile and leveraged to commodity prices in both directions. © 2026 Nefarious Trading.