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Alfonso Mondelo was 13 years old when he arrived in the United States from Spain in 1971.

‘Soccer was almost nonexistent,’ he tells USA TODAY Sports. ‘You had to go chase it.’

Your desire to see the sport might take you to New York’s Felt Forum, the then-named auditorium at Madison Square Garden where Mondelo watched the 1974 World Cup on a closed-circuit television, or to movie theaters.

Even by 1990, Major League Soccer’s longtime technical director says, when the U.S. men qualified for the tournament in Italy, you went to a bar with a satellite dish to watch them.

‘If there was a baseball game, you had to fight with the baseball people to keep the soccer game on,’ Mondelo says. ‘So this has gone to where this is the country that consumes probably the most soccer in the world. Right now, you can turn on a TV on Saturday morning at 7 o’clock, begin to watch European games and continuously watch live soccer until probably 12:30, 1 o’clock in the morning, when MLS finishes.

‘It’s a sport that you can play forever. Every day, there are more American-born fans, and I would say under the age of 40 in this country, most players have played it at one level or the other.’

Mondelo, 66, spent time on the pitch in Spain’s second division while he was in the U.S. Air Force and later became a coach. He got his start as a coach in MLS with the New York/New Jersey MetroStars in the late 1990s. He moved to his position in the league’s front office in 2004, when teams had no youth programming.

Today, there are 40,000 kids participating in its MLS GO recreational program and almost 18,000 enrolled in its elite MLS NEXT platform (raising to 40,000-plus with a new competition tier), which runs from the U13 to U19 levels.

As of June 15, according to MLS, 93% of the players on U.S. youth national teams are coming from MLS NEXT. This year alone, the league also has invested more than $125 million in player development, according to Mondelo.

‘It’s the greatest sport in the world,’ says Mondelo, whom we interviewed upon the 30th anniversary of MLS. ‘Once you start playing it, you get hooked on it. If you speak soccer, you can engage conversations in any country in the world. I think the Americans are catching onto it. …

‘Now there is a direct pathway, so a young player who begins to play the game and has a passion for it can see a direct pathway from youth all the way to a professional team. Now, in a lot of the markets, they have a professional team that they can go see and they can aspire to be part of.’

The league realizes, of course, the overall percentages of becoming a professional player are very small. It’s constantly seeking ways to get more kids access to the game, hoping to create fans at the grassroots levels who will attend MLS matches.

Where might your son or daughter fit into MLS’ youth ecosystem? Here are the opportunities it provides:

MLS GO: Finding a lifelong love of the game

When we place our kid in a sport at a young age, a goal is they enjoy it and want to come back for another season.

‘We’re not trying to create world-class players from the time of 5 or 6 years old,’ says Kyle Albrecht, the general manager of MLS GO and MLS NEXT.

MLS GO is designed to teach fundamentals to boys and girls from 4 to 14 – sometimes playing in games together – in a community setting. It’s in 47 states and Washington D.C., and, if you’re in an MLS market, tickets to a pro game might be included with your entry fee.

Albrecht says the median age of an MLS GO player is 7 or 8 but it’s open to beginners throughout its age groups.

‘It also gives that opportunity at the higher end of the spectrum,’ Albrecht says. “Let’s say that individual player is not ready to go into the youth travel environment (with) more competitive aspects that we know have a tendency to drive kids and families out of the game.’

MLS GO, Albrecht says, was born in 2023 out of data that registered soccer participation wasn’t really growing over the past 20-plus years.

‘There was a real intentionality about the push to travel too early, (the) cost growing so high at young ages. How do we build a program to combat that negativity with the game becoming too intense for that recreational audience?’ Albrecht says.

MLS NEXT: Seeking your highest potential

Kids with more ambitious sports aspirations can try out for clubs within MLS NEXT starting at the U13 level. There are 29 MLS academies and 238 elite academies within the 267 clubs (including the second tier of competition) that make up MLS NEXT.

MLS NEXT academy teams compete in high-level events such as Generation Adidas Cup. The GA Cup began almost two decades ago as a gauge to evaluate how MLS academy teams were developing across the country and then started to bring in international competition.

‘When we first started there, it was hard to compete,’ Mondelo says. ‘The foreign teams were beating us; we got a draw, we felt that that was a positive result. And over the last 10, 15, years, we’re seeing that the MLS teams in some age groups are dominating the competition, so we are getting to be close to a world-level par in player development.

‘Also, the interest of international clubs on the players that are being developed domestically has risen tremendously. So they’ve seen the American player as a viable option to bring into top-level clubs worldwide.’

MLS NEXT came about in 2020, taking over when the U.S. Soccer Development Academy ended operations. There are 130 NEXT players who have matriculated to MLS. They include Diego Luna (Real Salt Lake), Benjamin Cremaschi (Inter Miami CF), Alex Freeman (Orlando City SC), Obed Vargas (Seattle Sounders FC) and Cavan Sullivan (Philadelphia Union).

MLS NEXT top-tier players agree to forgo participating simultaneously in both MLS NEXT and high school soccer, according to an MLS spokesperson, though clubs can submit a high school waiver and play. Players in the other tier will be allowed to play it.

‘Our objective from a player development strategy is to develop the next generation of talent that will affect the pro game, and the pro game includes Major League Soccer, it includes national teams,’ Luis Robles, MLS NEXT’s technical director, told USA TODAY Sports in January, when laying out the parameters of the second tier. ‘But within that object is another sub tier of, ‘How does that play itself out?’ We saw an opportunity to deepen the player pool, to give more families that experience. … So it is the aspirational athlete, but it’s also just the athlete that wants to continue to play soccer with their friends. So it is a combination of everyone.’

The 29 lead academies offer scholarships, housing and schooling, but players at the non-MLS academies, which MLS refers to as elite academies, are given looks and opportunities to move up within the organization. These chances include trials at MLS academies, talent ID camps or sometimes guest appearances for the clubs at competitions like the GA Cup.

There are coaching and travel costs associated with elite academies, though Albrecht says MLS NEXT clubs try and look at providing financial aid where it might be needed.

‘We try and get every player in MLS NEXT to reach their highest potential,’ Albrecht says. ‘That may mean it’s Division 1 or Division III college. We’re hosting our MLS NEXT Fest event in December and that’s going to be the biggest college recruiting event in youth soccer.’

MLS NEXT Pro: Completing the path

MLS determined as it began to build its youth programs that it lacked qualified coaching compared to other parts of the world. It started working with the French Federation to develop courses.

In addition, all 30 MLS clubs have state-of-the-art training facilities where their MLS NEXT academy teams train. (San Diego FC academy is just getting off the ground and not competing in MLS NEXT yet.)

‘Without a doubt, I think in the next few years, we’re going to see a world-class player emerge here that will be comparable to what’s coming out of any other country in the world,’ Mondelo says.

MLS NEXT players who advance along the path toward MLS might also get the chance to participate in MLS NEXT Pro, a men’s league in the USA and Canada. MLS NEXT Pro might also include international players, older collegiate graduates and others who may not have played in MLS NEXT.

Since the launch in 2022, MLS teams have signed more than 160 players from this polishing stage.

More opportunities for girls

MLS NEXT is a boys competition but member clubs can invite girls to play on their teams. USWNT players Alyssa and Gisele Thompson, for example, played on an U19 MLS NEXT team.

MLS NEXT announced in December it had formed an alliance with the Girls Academy. According to MLS, the Girls Academy has 114 clubs and more than 16,000 players (including 48 clubs that have a boys team in MLS NEXT) from the U13 to U19 age groups.

‘We’re in very regular contact with the leadership team at Girls Academy, just in terms of what are those touch points that we can add value – whether it be through events, through different coaching education initiatives, things we can do to really align that development,’ Albrecht says.

The GA Cup, which Mondelo spearheaded for MLS, had a girls division for the first time in 2025. Girls Academy Red beat Girls Academy Blue in the U16 final. Their division also included FC Bayern (Germany) and Manchester City FC (England).

Initial plans, Albrecht says, have looked at expanding the girls division to allow for additional Girls Academy teams as well as international teams.

‘I would not be surprised if we start seeing some of our (professional) clubs begin to develop the youth academies on the women’s side,’ Mondelo says of MLS.

The future: ‘Best is yet to come’

According to MLS, MLS NEXT players have represented 32 different youth national teams around the globe in 2025. Players from 56 MLS NEXT clubs (277 players in all) have been called up to youth national teams this year.

Albrecht predicts a half-million-plus players participating in MLS GO in the years following the 2026 World Cup next summer.

Five decades ago, Mondelo says, it was strictly immigrants who would go out and watch soccer. During the most recent men’s World Cup (held in Qatar in 2022), he noticed in New York City the bars were not only full, but people were outside on the street looking inside to try to see the game.

‘Americans want to be winners and want to have a team that wins,’ Mondelo says. ‘So as our national team goes, I think we’re very nationalistic. That will also continue in this constant growth of the sport. …

‘I think a lot of credit has to be given to the ownership groups in MLS, the investment that has been made in these facilities, not only for the first team, for the pro team, but for these academies, has really brought us to the next level.

‘The reward will be when we start seeing these American players becoming the mainstay of MLS clubs. So ideally, the mid-level players and above will be domestically grown players, and then the influx of the internationals will be truly the superstars that will elevate this league. Major steps have been taken in 30 years, but the best is yet to come.’

Steve Borelli, aka Coach Steve, has been an editor and writer with USA TODAY since 1999. He spent 10 years coaching his two sons’ baseball and basketball teams. He and his wife, Colleen, are now sports parents for two high schoolers. His column is posted weekly. For his past columns, click here.

This post appeared first on USA TODAY

All 32 NFL teams are preparing to open their training camps in preparation for the 2025 season. This means fantasy football drafts are on the horizon.

The team at USA TODAY Sports is conducting a virtual tour of each division in preparation for the upcoming draft season. This will highlight the most critical issues or questions that impact fantasy football for every team.

While mock drafts are a helpful tool this time of year, sometimes gathering information on position battles and depth charts can be just as useful.

Whether it’s a new arrival or departure that opens the door for an important position battle or a potential breakout, we have the fantasy insights to help shape your draft strategy.

It’s never too early to start preparing for the fantasy football season. In this edition, we take a closer look at the AFC North.

Baltimore Ravens (12-5)

Will Todd Monken and the offense begin to lean on Isaiah Likely over Mark Andrews?

Tight end Mark Andrews has been a fantasy stalwart for seven seasons, but fantasy owners will remember his slow start and gut-wrenching finish in 2024.

He has been a consensus top-5 tight end for the last six seasons but finds himself ranked ninth overall at the position. This could be due to the emergence of Isaiah Likely, who posted career-highs across the board in 2024. Andrews, who will be 30 this season, saw his yards per route run drop for the third consecutive year.

Likely is just 25 years old and averaged 6.1 yards after the catch (tied for sixth among TEs) compared to Andrews’ 3.7, which was tied for 41st. Likely amassed 111 yards on nine catches and a touchdown in Week 1 against the Chiefs last year, displaying his abilities, but Todd Monken’s offense still featured Andrews as the season progressed.

While speaking to the media at OTAs, head coach John Harbaugh said he’s setting a goal for Likely to be an All-Pro by the end of the 2025 season.

‘I want to see [Likely] be an All-Pro. That would be my goal for him, and he’s capable of it.’

A strong connection was established with two-time MVP Lamar Jackson, as he posted a 131.2 passer rating when targeting Likely in 2024. There is legitimate TE1 upside if Andrews were to be phased out or even traded.

Top players (Fantasy Pros ADP)

  • Derrick Henry (RB7, overall: 21)
  • Lamar Jackson (QB2, overall: 25)
  • Zay Flowers (WR25, overall: 50)
  • Mark Andrews (TE9, overall: 90)
  • Rashod Bateman (WR57, overall: 62)
  • Isaiah Likely (TE22)

Pittsburgh Steelers (10-7)

Will DK Metcalf deliver a top-10 finish among WRs?

In 2024, Garrett Wilson finished as WR10 in PPR (points per reception) formats, and Davante Adams was on pace for a top-10 finish at the position, posting 854 yards and seven TDs in just 11 games alongside Aaron Rodgers in New York.

Pittsburgh acquired DK Metcalf in a trade from Seattle earlier in the offseason and is poised to receive the lion’s share of targets in the new-look Steelers offense.

Metcalf leads the NFL with 96 end-zone targets since entering the league and brings rare physical traits to the field.

He’s finished between 967 and 1,114 yards in the past four seasons. His best season was in 2020, when he finished as the 10th overall wide receiver in fantasy points per game. He hasn’t demanded an elite target share, but perhaps Rodgers can unlock some of the promise he displayed during the 2020 season.

Adams and Rodgers had one of the best connections in NFL history. In 2020, Adams led the league with 18 touchdowns and 98.1 receiving yards per game in arguably the best season of the pairing. It’s unlikely Metcalf can replicate those numbers in the Steelers’ run-first environment, but he’s capable of finishing inside the top 10 at the position.

They’ll have a full training camp to get on the same page. As things currently stand, there’s little target competition in the receiver room. George Pickens was traded to the Dallas Cowboys. Calvin Austin, Robert Woods and Roman Wilson will compete for snaps and targets but the Steelers lack a true No. 2 option. They may add another veteran to the room as the offseason progresses but Metcalf is primed for the highest target share of his career.

Top players (Fantasy Pros ADP)

  • DK Metcalf (WR24, overall: 47)
  • Kaleb Johnson (RB28, overall: 81)
  • Jaylen Warren (RB30, overall: 87)
  • Jonnu Smith (TE15)
  • Pat Freiermuth (TE20)
  • Aaron Rodgers (QB28)

Cincinnati Bengals (9-8)

Is Chase Brown a breakout candidate?

Everyone is aware of Bengals’ receivers Ja’Marr Chase and Tee Higgins, but Chase Brown is a sneaky option in the offense who burst onto the scene in the second half of 2024. He’s currently being drafted as the ninth overall running back and could be a massive steal in drafts.

Cincinnati’s offense is set up to score points at a high clip again (27.8 points per game in 2024) with Joe Burrow leading the way. All of those points can’t come through the air.

Brown took on a massive role, playing an elite 85% of snaps from Week 9 on and averaged 20.6 fantasy points per game (RB4 in PPR in that span). In his last eight games, Brown averaged 116.25 scrimmage yards, projecting to 1,976 over 17 games, which would have ranked third in the NFL last year.

The Bengals have veterans Zack Moss and Samaje Perine, but it’s more likely they fill a change-of-pace back role. Cincinnati drafted sixth-rounder Tahj Brooks, signaling they are expecting Brown to carry the load in 2025.

Brown has the pedigree to be an elite back. He led all RBs in the vertical jump, broad jump and bench press at the 2023 NFL Combine. He’s at a prime age (25) at the RB position and even displayed elite receiving abilities (54 receptions on 65 targets) in 2024.

Top players (Fantasy Pros ADP)

  • Ja’Marr Chase (WR1, overall: 1)
  • Tee Higgins (WR14, overall: 24)
  • Chase Brown (RB9, overall: 29)
  • Joe Burrow (QB5, overall: 48)
  • Mike Gesicki (TE21)

Cleveland Browns (3-14)

Does it matter who’s playing QB for Jerry Jeudy?

The Browns’ offense has question marks all over it. There’s a massive quarterback competition heading into training camp between Joe Flacco, Kenny Pickett, Dillon Gabriel and Shedeur Sanders. Cleveland’s second-round pick, running back Quinshon Judkins was arrested on July 12. The receiver room consists of Jerry Jeudy, Cedric Tillman and much-maligned Diontae Johnson.

The lack of depth at receiver is concerning, but this means the door is wide open again for Jeudy to build off of his 2024 success (WR12 in PPR). The uncertainty at QB is leading Jeudy to fall in drafts.

Jeudy posted 1,229 receiving yards last year and after Cleveland traded Amari Cooper in Week 7, he had 981 of those yards on 109 targets in 11 games. The Browns are expected to play from behind often, which will lead to more passing opportunities, as the game script suggests when trailing. Volume is king and Jeudy is set up for another massive target share in 2025 (145 targets – seventh among WRs in 2024).

Top players (Fantasy Pros ADP)

  • Jerry Jeudy (WR33, overall: 67)
  • Quinshon Judkins (RB29, overall: 83)
  • David Njoku (TE8, overall: 86)
  • Cedric Tillman (WR56)
This post appeared first on USA TODAY

Consumer prices rose in June as President Donald Trump’s tariffs began to slowly work their way through the U.S. economy.

The consumer price index, a broad-based measure of goods and services costs, increased 0.3% on the month, putting the 12-month inflation rate at 2.7%, the Bureau of Labor Statistics reported Tuesday. The numbers were right in line with the Dow Jones consensus, though the annual rate is the highest since February.

Excluding volatile food and energy prices, core inflation picked up 0.2% on the month, with the annual rate moving to 2.9%, with the annual rate in line with estimates. The monthly level was slightly below the outlook for a 0.3% gain.

A worker prices produce at a grocery store in San Francisco, California, US, on Friday, June 7, 2024.David Paul Morris / Bloomberg via Getty Images

Prior to June, inflation had been on a generally downward slope for the year, with headline CPI at a 3% annual rate back in January and progressing gradually slower in the subsequent months despite fears that Trump’s trade war would drive prices higher.

While the evidence in June was mixed on how much influence tariffs had over prices, there were signs that the duties are having an impact.

Vehicle prices fell on the month, with prices on new vehicles down 0.3% and used car and trucks tumbling 0.7%. However, tariff-sensitive apparel prices increased 0.4%. Household furnishings, which also are influenced by tariffs, increased 1% for the month.

Shelter prices increased just 0.2% for the month, but the BLS said the category was still the largest contributor to the overall CPI gain. The index rose 3.8% from a year ago. Within the category, a measurement of what homeowners feel they could receive if they rented their properties increased 0.3%. However, lodging away from home slipped 2.9%.

Elsewhere, food prices increased 0.3% for the month, putting the annual gain at 3%, while energy prices reversed a loss in May and rose 0.9%, though they are still down marginally from a year ago. Medical care services were up 0.6% while transportation services edged higher by 0.2%.

With the rise in prices, inflation-adjusted hourly earnings fell 0.1% in June, the BLS said in a separate release. Real earnings increased 1% on an annual basis.

Markets largely took the inflation report in stride. Stock market indexes were mixed while Treasury yields were mostly negative.

Amid the previously muted inflation ratings, Trump has been urging the Federal Reserve to lower interest rates, which it has not done since December. The president has insisted that tariffs are not aggravating inflation, and has contended that the Fed’s refusal to ease is raising the costs the U.S. has to pay on its burgeoning debt and deficit problem.

Central bankers, led by Chair Jerome Powell, have refused to budge. They insist that the U.S. economy is in a strong enough position now that the Fed can afford to wait to see the impact tariffs will have on inflation. Trump in turn has called on Powell to resign and is certain to name someone else to the job when the chair’s term expires in May 2026.

Markets expect the Fed to stay on hold when it meets at the end of July and then cut by a quarter percentage point in September.

This post appeared first on NBC NEWS

Relatively healthy earnings reports from the big banks and a June inflation report that came in line with analyst expectations didn’t give the stock market much of a lift, as the S&P 500 ($SPX) and Dow Jones Industrial Average ($INDU) both ended the day lower. The only major index to shine was the Nasdaq Composite ($COMPQ), which closed at a record high.

Technology stocks were the stars of the show. It wasn’t a blowout rally, but the sector still managed to finish in the green. Why? There were a couple of key developments that gave tech a nice boost.

First, semiconductors got some breathing room. Restrictions on chip sales to China were relaxed, and that gave big names like NVIDIA Corp. (NVDA) and Advanced Micro Devices (AMD) a reason to rally. 

Second, there’s a push from the government to invest in AI and energy initiatives in Pennsylvania. One of the biggest winners was Super Micro Computer, Inc. (SMCI), which jumped 6.9% — the biggest percentage gain in the S&P 500. You can see from the StockCharts MarketCarpet for the S&P 500 stocks that, besides the top-weighted stocks in the index, it was mostly a sea of red.

FIGURE 1. MARKETCARPET FOR TUESDAY, JULY 15. Technology was the clear leader, with the largest cap-weighted stocks leading the sector higher.Image source: StockCharts.com. For educational purposes.

Semiconductors Show Strength

If you’ve been watching semiconductors, you may have noticed that the SPDR S&P Semiconductor ETF (XSD) has been on a roll. Since April, the ETF has stayed above its 20-day exponential moving average (EMA). The relative performance of XSD against the SPDR S&P 500 ETF (SPY) has been improving, and its relative strength index (RSI) is at around 62, an indication that momentum is at healthy levels (see chart below). It’s important to note that since May, the RSI has remained above 50, which is supportive of XSD’s upside movement.

Note: StockCharts members can access this chart from the Market Summary page or the Market Summary ChartPack (under US Industries > Bellwether Industries).

FIGURE 2. DAILY CHART OF XSD. Since April, XSD has been trending higher and is now trading above its 21-day EMA.Chart source: StockCharts.com. For educational purposes.

How to Track Semiconductor Stocks

If the environment for semiconductors remains strong, there could be more upside for stocks in that space. A simple way to keep tabs on the stocks using StockCharts tools is to create a ChartList of semiconductor stocks you’re interested in owning.

  • Begin by heading to the US Sectors panel in the Market Summary page or the Sector Summary page on your Dashboard.
  • Click Sector Drill-Down > Technology Sector Fund > Semiconductors.
  • You’ll see the list of semiconductor stocks that make up the industry group.

From there, I prefer to sort the data by the Universe (U) column, starting with the large caps and then the StockCharts Technical Rank (SCTR) score to find large-cap technically strong stocks. You can then view the charts on the list. If you see a chart that appears to have a favorable risk-to-reward ratio, you can save it to your Semiconductor ChartList.

FIGURE 3. SEMICONDUCTOR STOCKS TO REVIEW. The sector drill-down will uncover stocks in leading sectors or industry groups. Scroll down the list to identify charts that meet your investment or trading criteria. Image source: StockCharts.com. For educational purposes.

As you review the charts in your ChartList, you can identify potential support and resistance levels and set alerts to notify you when prices reach your key levels. It’s a great way to stay proactive.

The Bottom Line

This type of top-down analysis helps you stay one step ahead of the market. Start with the broad market, then narrow down to sectors, then industry groups, and then individual stocks. By taking a proactive approach to managing your investments, you’re always preparing for the stock market’s next move.


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

Investor Insight

With a clear vision for value creation in the energy transition and precious metals sectors, Surface Metals has strategically assembled one of North America’s most compelling project portfolios. Anchored by a high-potential gold asset and a robust lithium pipeline, the company is focused on discovery-driven growth, resource development, and unlocking long-term shareholder value through exploration, partnerships and potential M&A.

Overview

Surface Metals (CSE:SUR,OTCQB:SURMF) is a diversified exploration and development company with a portfolio spanning precious metals and lithium, targeting the growing global need for electrification metals and gold as a financial hedge.

The company’s flagship Cimarron gold project in Nevada is an underexplored, high-grade oxide gold system with historic drilling by majors including Newmont and Echo Bay. Simultaneously, Surface Metals, through its subsidiary ACME Lithium US, is developing lithium projects across Nevada and Manitoba, Canada. These include the Clayton Valley lithium brine asset (with a defined resource), the claystone-hosted Fish Lake Valley project, and the pegmatite-rich Shatford and Cat-Euclid claims in partnership with Snow Lake Resources.

Surface Metals’ projects are located in prolific mining jurisdictions in Nevada and Manitoba

With a foundational 43-101 resource, compelling exploration upside, and strategic positioning next to producing and near-producing lithium assets, Surface Metals is building value from the ground up.

Company Highlights

  • Dual Focus Portfolio: Combines precious metals and energy transition minerals, including a 90 percent stake in the Cimarron gold project and multiple lithium assets in Nevada and Manitoba.
  • Gold Asset with Legacy Database: Cimarron contains over 190 historical drill holes with high-grade intercepts and a non-compliant historic resource of 50,000+ oz gold, open in multiple directions.
  • NI 43-101 Lithium Resource: The Clayton Valley project hosts an inferred lithium carbonate equivalent (LCE) resource of 302,900 tonnes, backed by geophysics, drilling and pumping test data.
  • Strategic Lithium Locations: Lithium claims are adjacent to Albemarle’s Silver Peak mine and Ioneer’s Rhyolite Ridge development in Nevada, and contiguous to the Tanco mine in Manitoba.
  • Experienced Leadership: Led by resource sector veterans with a track record of successful exits, technical development and public company management.
  • Energy Transition Strategy: Well-positioned to benefit from macro tailwinds in lithium demand and US domestic critical minerals supply chain policies.

Key Projects

Cimarron Gold Project

The Cimarron gold project is a high-grade epithermal gold exploration project located at the north end of the San Antonio Mountains in the historic San Antonio (Cimarron) mining district, approximately 18 miles north of Tonopah, Nevada. Surface Metals holds a 90 percent interest in the project through its US subsidiary, Surface Metals US Inc. The project comprises 31 lode claims and is characterized by shallow, structurally controlled, low-sulfidation oxide gold mineralization.

Cimarron lies at the intersection of two regionally significant gold trends: the northwest-trending Walker Lane Belt and a north-northeast trend hosting Round Mountain (Kinross), Bullfrog, Goldfield, Manhattan and Gold Hill deposits. Notably, Round Mountain—located just 28 miles north—has produced more than 15 million ounces of gold. The project benefits from excellent infrastructure, including nearby power, road access and historic drill pads.

Aerial view of the project property

From 1980 to 2004, significant historical exploration was conducted by major operators such as Newmont, Echo Bay, Romarco and Budge. More than 190 drill holes define three main mineralized zones: West, Central and East. Echo Bay’s internal reports (1987) estimated a non-NI 43-101 compliant resource of over 50,000 oz of gold hosted in approximately 1.5 million tons (Mt), with roughly 80 percent of the ounces located in the West Zone. Historic high-grade intercepts include:

  • 4.46 grams per ton (g/t) gold over 11 m
  • 4.49 g/t gold over 23 m
  • 3.94 g/t gold over 46 m

Mineralization remains open in multiple directions, and surface sampling has returned anomalous gold values across a wide area, indicating strong potential for both lateral and vertical extensions. The mineralized system features strong structural controls and is interpreted to be part of a shallow, boiling zone epithermal system.

Surface Metals is currently finalizing its 2025/2026 exploration interpretation and strategy to potentially expand the known mineralized envelope and produce an NI 43-101 compliant resource estimate.

Clayton Valley Lithium Brine Project

The Clayton Valley Project, held through Surface’s subsidiary ACME Lithium US, is located in Esmeralda County, home to the only operating lithium brine mine in the United States: Albemarle’s Silver Peak mine. ACME’s 100 percent interest covers 122 placer claims totaling 2,440 acres in one of the world’s most prolific lithium-producing basins.

The project hosts a defined NI 43-101 inferred resource of 302,900 tons of lithium carbonate equivalent (LCE), based on extensive geophysical surveys (gravity and HSAMT), Phase 1 and Phase 2 drilling, and a 10-day pump test. The brines are hosted in interbedded silts, clays, sand and gravel, with lithium concentrations in brine ranging from 38 to 130 mg/L. Borehole DH-1 confirmed brine presence from 85 meters to 370 meters, with increased concentrations in basal gravels and lacustrine tuff layers.

Phase 2 drilling (DH-1A and TW-1) reached a depth of 1,940 ft, intersecting the Lower Gravel Unit (LGU), interpreted as the main brine aquifer. Pack testing and zone-isolated sampling from the LGU showed lithium values up to 71 mg/L. Permeability tests demonstrated favorable aquifer transmissivity. The presence of bicarbonate-rich groundwater indicates typical Clayton Valley geochemistry, conducive to direct lithium extraction (DLE) processing. Surface is currently evaluating DLE partnerships and pilot testing, with SLB (formerly Schlumberger) having already demonstrated a working DLE unit in the region.

Fish Lake Valley Lithium Claystone Project

The Fish Lake Valley (FLV) project is a 100 percent owned sedimentary lithium claystone asset covering 207 claims across 4,002 acres in Esmeralda County. The project is strategically adjacent to Ioneer’s fully permitted and DOE-funded Rhyolite Ridge lithium-boron project, with expected commencement of construction in 2025 and offtake agreements with Ford, Panasonic and Toyota.

FLV hosts lithium values up to 1,418 parts per million (ppm) in surface samples, with boron anomalies as high as 1,964 ppm—both strong indicators of favorable sedimentary lithium potential. Two major field sampling programs (2022 and 2023) confirmed the widespread presence of lithium-bearing illite-smectite clays. Phase 2 sampling utilized Asterra’s satellite analytics to identify new mineralized zones.

Geophysical surveys, including gravity and HSAMT, confirm the presence of a deep down-dropped basin with clay-rich horizons extending to over 1.3 km depth. Interpreted illite-smectite units, comparable to Rhyolite Ridge’s host rocks, are present throughout the basin. The project is fully permitted for drilling, with multiple high-priority drill targets identified for validation and resource definition. Surface is actively seeking a JV or strategic partner to fund and advance this asset.

Shatford, Birse and Cat-Euclid Lake Lithium Projects

Surface Metals, in partnership with Snow Lake Resources (Nasdaq:LITM), holds a 49 percent interest in a 17,000-acre pegmatite exploration portfolio in southeastern Manitoba, contiguous with the Tanco mine, Canada’s only operating LCT (lithium-cesium-tantalum) pegmatite mine, owned by Sinomine.

The Shatford Lake project comprises 21 claims (8,883 acres), Birse Lake adds another 10 claims (5,196 acres), and the Cat-Euclid block includes six claims (2,930 acres). The claims straddle the Greer-Shatford Shear Zone, a major 15-km structural corridor hosting known pegmatites, favorable host rocks and historic lithium occurrences.

Snow Lake’s 2024 field campaign discovered a 25 m to 30 m wide tantalite-bearing pegmatite on the Cat-Euclid block and identified multiple new pegmatite swarms under heavy overburden. Drilling at Shatford Lake (2023) included eight holes totaling 3,280 meters, intersecting pegmatites in six holes. 3D modeling of airborne magnetic data correlated structural dilation zones with pegmatite emplacement, prime targets for lithium mineralization. Multiple new drill targets have been identified for follow-up in 2025. The joint venture provides a low-cost pathway to potential lithium discoveries near a fully integrated lithium processing facility.

Management Team

Stephen Hanson – President, CEO and Director

With over 28 years of global experience in finance and corporate development, Stephen Hanson has held executive roles across mining, energy and resource sectors. He has successfully executed M&A deals and created exit strategies for multiple public and private companies. Hanson’s focus at Surface Metals is on unlocking value through resource expansion and strategic partnerships.

Zara Kanji – CFO and Corporate Secretary

A CPA with deep experience in financial reporting for junior mining companies, Zara Kanji oversees compliance, budgeting, and financial strategy. She brings more than two decades of expertise in audit, taxation and advisory for public entities in Canada.

Vivian Katsuris – Director

A capital markets specialist with over 28 years of experience, Vivian Katsuris has served in executive and board roles for numerous TSXV and CSE-listed companies. Her expertise spans brokerage, corporate governance and strategic advisory.

Yannis Tsitos – Director

Formerly with BHP Billiton for 19 years, Yannis Tsitos has decades of exploration and M&A experience across multiple continents. He is currently the president of Goldsource Mines and sits on several public company boards.

William Feyerabend – Qualified Person (US Projects)

A certified professional geologist and NI 43-101 Qualified Person, William Feyerabend has authored multiple technical reports on lithium assets and has decades of exploration experience in the US, Mexico and South America.

Dane Bridge – Technical Advisor

With over 45 years in global mineral exploration and mine evaluation, Dane Bridge provides strategic technical oversight across Surface’s exploration assets.

Matt Banta – Technical Advisor

A specialist in hydrology and lithium brine systems, Matt Banta brings over 20 years of field and analytical experience with a focus on lithium extraction and water resource modeling.

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Geopolitical tensions are rising in several regions of the world, and governments are expected to increase their defense spending in the years ahead. This has investors looking to aerospace and defense stocks.

The entrenched Russia-Ukraine war, widespread conflict in the Middle East, military posturing in the ongoing US-China trade conflict and the spread of cybersecurity attacks on critical infrastructure — all of these developments and more are driving demand in the global defense market.

In 2024, the five countries spending the most on their militaries were the United States, China, Russia, Germany and India, according to data from the Stockholm International Peace Research Institute.

For the most part, the aerospace and defense industry provides equipment, technologies and services to national governments through contracts. The players in this space are typically defense contractors that design and manufacture aircraft, satellites, electronic systems, software, missiles, drones, autonomous vehicles, tanks and marine vessels.

Global aerospace and defense revenue reached record highs in 2024, according to PwC in its latest annual sector report, totaling US$922 billion across the top 100 companies. However, the firm reports that increased demand is outpacing supply and capacity from defense companies.

5 Biggest US Defense Stocks

Today, the US accounts for the largest share of global defense spending, representing about 37 percent of worldwide military outlays. In fact, military spending represents about 12 percent of the US federal budget for fiscal year 2025. Worsening geopolitical tensions are expected to increase the US government’s spending on defense technology.

1. RTX (NYSE:RTX)

Market cap: US$189.46 billion

One of the most well-known American defense companies, RTX operates in the defense, aviation, space, electronics and cybersecurity sectors. The company captured more than US$80.7 billion in revenue for 2024, up 17.15 percent from the previous year.

The company’s defense solutions arm Raytheon was awarded a US$250 million contract in June 2025 from Japan’s Mitsubishi Electric (TSE:6503) for licensed production of ESSM Block 2 short to medium-range guided missiles.

‘Under the Direct Commercial Sale contract, Raytheon will provide missile kits, parts, and components as well as technical support for missile production at (Mitsubishi Electric) in Japan,’ the press release stated.

2. The Boeing Company (NYSE:BA)

Market cap: US$151.52 billion

Another heavyweight in the aerospace and defense industry, Boeing designs and manufactures airplanes, rotorcraft, rockets, satellites, telecommunications equipment and missiles.

Revenue for the company declined by 14.5 percent in 2024 over the previous year to come in at US$66.5 billion. The majority of that loss was driven by its airplane segment; its defense segment revenue dropped 4 percent over the same period. The company’s aviation sector has faced heavy scrutiny in recent years after several disastrous incidents linked to the Boeing 737.

As for its defense business, in March 2025, Boeing reported that production of its air defense systems, Patriot Advanced Capability-3 seekers, reached an all-time high in 2024. According to the release, the company produces the seekers as a subcontractor for Lockheed Martin and has sold them to 17 countries, including the US and Ukraine.

3. Honeywell International (NASDAQ:HON)

Market cap: US$144.57 billion

Engineering and technology company Honeywell International develops and manufactures technological solutions for a variety of sectors. The company’s four business divisions are aerospace technologies, building automation, energy and sustainability solutions, and industrial automation. Honeywell’s sales came in at US$38.5 billion in 2024, up 5 percent from the previous year.

Honeywell has numerous defense contracts with government agencies around the world, including right at home with the US Department of Defense (DoD) and US Armed Forces. In May 2025, the company’s JetWave X satellite communication system was selected for use in the advanced US Army aircraft ARES.

4. Lockheed Martin (NYSE:LMT)

Market cap: US$107.57 billion

Lockheed Martin’s business is concentrated on aerospace products and advanced defense technology systems. The F-16 Fighting Falcon fighter jet is among its most notable products, but Lockheed is also well known for its space launchers, ballistic missiles and satellites. The company’s 2024 net sales increased by 5.15 percent from the previous year to just over US$71 billion.

Unsurprisingly, about half of Lockheed Martin’s annual sales are made to the US DoD. However, governments around the world have purchasing contracts with the company to supply their militaries with defense products such as F-16 and F-35 fighter jets. In April 2025, the Royal Norwegian Air Force received the last two F-35 fighter jets of the 52 ordered in its most recent supply contract.

5. General Dynamics (NYSE:GD)

Market cap: US$76.57 billion

Although best known for its Gulfstream business jets, General Dynamics designs and manufactures wheeled and tracked combat vehicles, submarines, weapons and communications systems, as well as munitions. The company garnered more than US$47.72 billion in revenue for 2024, up 12.88 percent from the previous year.

General Dynamics is a major defense contractor for the US military as well as allied nations abroad. In April 2025, the company was awarded US$12 billion in contract modifications for the construction of two Virginia-class submarines for the US Navy, bringing the potential value of the contract to US$17.2 billion. This type of sub is designed for anti-submarine and surface ship warfare and special operations support.

5 Biggest US Defense ETFs

Investors looking to mitigate the risk of investing in individual stocks can diversify their portfolio with defense ETFs. While ETFs aren’t without risk, they are often considered a more stable investment compared to stocks as they allocate funds across a variety of stocks that are rebalanced by an asset manager to meet the return goals of the fund.

The biggest US Defense ETFs by assets under management are listed below according to data from ETF Database.

1. iShares U.S. Aerospace & Defense ETF (BATS:ITA)

Assets under management: US$7.83 billion

The iShares U.S. Aerospace & Defense ETF launched in May 2006. This fund invests in large, generally stable companies in the aerospace and defense sector, particularly those with the majority of their revenues based on long-term government contracts.

The ETF has 40 holdings and an expense ratio of 0.4 percent. IShares U.S. Aerospace & Defense ETF’s top holdings include RTX, Boeing, Lockheed Martin and General Dynamics as well as another important name in the industry, L3Harris Technologies (NYSE:LHX).

2. Invesco Aerospace & Defense ETF (NYSEARCA:PPA)

Assets under management: US$5.41 billion

Invesco Aerospace & Defense ETF launched in October 2005. Like ITA, it also tracks large, stable aerospace and defense stocks with steady revenue streams from long-term government contracts.

While it has more holdings than ITA at 57, it also has a higher expense ratio at 0.58 percent. Unlike ITA, Honeywell is listed among Invesco Aerospace & Defense ETF’s top holdings in addition to the other biggest US defense stocks.

3. SPDR S&P Aerospace & Defense ETF (NYSEARCA:XAR)

Assets under management: US$3.76 billion

SPDR S&P Aerospace & Defense ETF, which launched in September 2011, offers exposure to large cap stocks in this sector. It has the lowest expense ratio on this list at 0.35 percent.

Of the 40 holdings XAR tracks, the most heavily weighted US defense stocks include RTX, Boeing, Lockheed Martin and General Dynamics as well as Rocket Lab (NASDAQ:RKLB) and AeroVironment (NASDAQ:AVAV).

4. Global X Defense Tech ETF (NYSEARCA:SHLD)

Assets under management: US$2.69 billion

Launched in September 2023, Global X Defense Tech ETF is the newest defense ETF on the market. While it does offer a geographic diversity of exposure to the overall defense sector, its holdings are just over 50 percent based in the United States. This ETF has an expense ratio of 0.50 percent.

SHLD has 43 holdings, including the biggest US defense stocks such as Lockheed Martin and General Dynamics, but is also heavily weighted in Palantir Technologies (NASDAQ:PLTR) and L3Harris Technologies.

5. Direxion Daily Aerospace & Defense Bull 3X Shares (NYSEARCA:DFEN)

Assets under management: US$249.19 million

Direxion Daily Aerospace & Defense Bull 3X Shares launched in May 2017 with the goal of tripling the daily return of an index of major defense industry stocks.

DFEN has the highest expense ratio on this list at 0.95 percent. Some of the most heavily weighted stocks of its 39 holdings are Boeing, Lockheed Martin and RTX.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

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Defense manufacturer Lockheed Martin (NYSE:LMT) is in early talks with undersea mining companies to open access to two dormant seabed exploration licenses it has held since the 1980s

The move signals a renewed US push to tap the ocean floor for critical minerals.

The licenses, which cover swaths of the eastern Pacific seabed in international waters, were awarded to Lockheed by US regulators decades ago during a previous wave of interest in deep-sea mining.

Though the projects never progressed to extraction, they are now gaining fresh attention as nations and corporations seek alternative sources of key minerals used in electric vehicles, defense technologies, and clean energy systems.

“We are in early stages of conversations with several companies about giving them access to our licences and allowing them to process those materials,” Frank St. John, Lockheed’s chief operating officer, told the Financial Times.

While St. John declined to quantify the potential value of the deposits, he added that interested parties have “done the homework and determined there is value there.”

Lockheed’s seabed licenses could represent a strategic foothold in a mineral-rich region, containing polymetallic nodules that can hold commercially viable concentrations of key metals.

The timing also coincides with recent executive action from the White House.

USPresident Donald Trump, who returned to office in January, signed an executive order in April asserting US rights to issue mining licenses in international waters and encouraging the stockpiling of seabed metals as strategic resources.

The order bypasses ongoing negotiations at the International Seabed Authority (ISA), the UN agency tasked with regulating deep-sea mining, and instead relies on the 1980 US Deep Seabed Hard Mineral Resources Act as the legal foundation.

It emphasizes the need to “establish the US as a global leader in seabed mineral exploration and development both within and beyond national jurisdiction.” While the US has not ratified the UN Convention on the Law of the Sea — the treaty from which the ISA derives its authority — it has signed a 1994 agreement recognizing the treaty’s seabed provisions and operates its own permitting system through the National Oceanic and Atmospheric Administration.

Lockheed said it welcomes the renewed policy attention. “We believe the US has the opportunity to develop a gold standard for commercial recovery of nodules in an environmentally responsible manner.”

Court upholds TMC disclosures on deep-dea mining risks

Lockheed is not alone in navigating the legal uncertainties surrounding seabed mining.

The Metals Company (TMC) (NASDAQ:TMC), a deep-sea mining startup, recently survived a shareholder lawsuit alleging it had misled investors about the environmental impacts and financial backing of its operations.

US District Judge Eric Komitee dismissed the claims, ruling that the company’s comparisons to conventional mining methods were not misleading, even if deep-sea mining still carries environmental risks.

“It is eminently possible that (1) deep-sea mining causes meaningful environmental harm, and yet (2) such harm is significantly less than the harm caused by existing methods,” the judge wrote.

TMC had disclosed in filings that deep-sea mining could result in damage and that the regulatory path remained uncertain. Its legal win may encourage others — like Lockheed — to proceed more openly with their seabed plans, albeit cautiously.

Deep-sea mining industry cautiously awakens

The growing pursuit of potentially extracting resources from the world’s oceans comes at a critical juncture for the seabed-mining industry. For decades, a de facto moratorium on mining in international waters has been in place due to regulatory uncertainty and environmental concerns.

The ISA has issued more than 30 exploratory permits, but has yet to finalize commercial extraction rules. That delay has prompted frustration from some parties, while drawing calls from others for a pause or outright ban.

Currently, the ISA is holding key assemblies in Jamaica to hash out the long-awaited mining code to regulate commercial activity on the ocean floor with provisions for environmental safeguards, royalties, and tax obligations.

But a growing number of countries — 37 at last count — have pushed for a precautionary pause, citing risks to deep-sea ecosystems that remain largely uncharted. Scientists warn that mining these habitats could cause irreversible damage.

In 2023, Lockheed appeared to step back from the sector by selling two UK-sponsored exploration licenses in the Pacific, a move interpreted by analysts as signaling reduced confidence in deep-sea mining.

However, its retained US licenses suggest it never fully exited the space.

The Trump administration’s executive order marks the most assertive US step yet to undermine the ISA’s multilateral approach, raising fears among diplomats that the agency may lose legitimacy.

China, which has also invested heavily in seabed mining, responded sharply to the move.

“The US authorization violates international law and harms the overall interests of the international community,” Chinese foreign ministry spokesman Guo Jiakun said earlier this year.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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The resource investing community descended on Boca Raton, Florida, during the first full week of July for another edition of the Rule Symposium, hosted by veteran investor and speculator Rick Rule.

The five day event featured an illustrious array of speakers, panelists and companies sharing a wealth of investor knowledge. As in years past, gold remained a top focus, with many presenters stressing the value it offers investors.

Opening the conference, Rule provided a sobering overview of the current economic trajectory. He urged investors to set aside political narratives and instead focus on the raw arithmetic of America’s financial condition.

“It’s not about politics, it’s about math,” said Rule.

He pointed to three figures that define the US financial landscape: US$141 trillion in aggregate private net worth, a US$27.71 trillion GDP and a personal savings rate of just 4 percent. That’s set against mounting obligations — US$36.6 trillion in federal debt held by bondholders and over US$100 trillion in unfunded federal entitlements.

Rule cautioned that the imbalance between assets and liabilities points to a looming reckoning, potentially echoing the inflationary erosion of the 1970s, when the US dollar lost 75 percent of its purchasing power.

“There’s no way out of this without reducing the value of the dollar,” he told the audience. “(The) increase in gold (prices) will mirror the decrease in purchasing power of the US dollar.’

To hedge against this risk, Rule encouraged attendees to adopt a more self-reliant approach.

He advised listeners to question government guarantees, focus on building personal financial resilience and consider investing in inflation-sensitive assets such as gold and silver. “The math doesn’t lie — it’s time to prepare, not just react,” said Rule. ”I need you not to panic when the time is right, but rather to pounce.”

Watch a recap of key Rule Symposium takeaways.

Tailwinds turning to headwinds

In addition to strategically allocating to gold, geopolitical uncertainty was as a key theme at the Rule Symposium.

During his presentation “Back to the Old Drawing Board: First Principles and the Lost Art of Investing Through Crisis,” author and publisher Grant Williams made the case that longstanding tailwinds — globalization, demographic expansion and low interest rates — have reversed, giving way to persistent uncertainty.

 

Williams provides an overview of shifting market dynamics.

He traced the last four decades of wealth creation to a rare alignment of forces that pushed asset prices, particularly US equities, sharply higher. However, since 2020, a new macro regime has emerged, defined by tighter monetary policy, rising geopolitical risk and fading confidence in the US dollar.

Like many speakers at the Rule Symposium, Williams also underscored the massive gold purchases central banks are making. During Q1 of this year, central banks added 244 metric tons of gold to their official reserves, a 24 percent increase above the five year quarterly average, according to World Gold Council data.

For Williams, this shift signals growing concern within the financial system — a trend investors shouldn’t overlook.

“When central banks are exchanging their reserves for gold in record amounts, if they feel the sudden urgent need to own more gold, you better believe that we should feel that too,” he noted.

The expert went on to illustrate how major economic and societal cycles are converging, suggesting more volatility ahead. A live poll of the audience taken during his session revealed growing unease among attendees, with many already adjusting their portfolios and long-term goals. In response, Williams called for a return to key principles: scarcity, durability, resilience, trust, patience and a clear-eyed acceptance of uncertainty.

These, he said, should now anchor any sound investment approach. He urged Rule Symposium attendees to shift their mindset from chasing returns to preserving capital by reducing overexposure to US equities, diversifying by geography and asset class and focusing on businesses with real staying power.

The investment playbook of the past no longer fits the world we’re entering, he stressed.

Navigating what Williams calls an “age of headwinds” will require humility, discipline and a willingness to rethink what truly creates and protects wealth.

Hard assets set to shine

Economist, author and former Wall Street executive Dr. Nomi Prins laid out a case for what she calls the “real asset uprising,” a global shift in value and power driven by hard assets like gold, silver, copper, uranium and rare earths.

Drawing on her experience in high-level banking and her current work in the mining sector, Prins argued that rising geopolitical friction, shifting trade dynamics and financial system strain are fueling a renewed focus on tangible resources. She pointed to surging institutional interest in commodities, noting that Wall Street deal flow tied to real assets is up 24 percent year-on-year, while hiring in commodity finance roles has increased by 15 percent.

Gold, once dismissed on trading desks, is now seen as a strategic monetary tool.

According to Prins, the yellow metal will not replace the US dollar as the reserve currency, but it will play a central role in bilateral trade and power negotiations. Gold’s jurisdiction — where it is stored and mined — is now more important than ever, she explained, as nations seek to shield assets from sanctions and instability.

Silver, copper, uranium and rare earths are all finding support through similar structural tailwinds, Prins pointed out.

Silver demand is rising due to its industrial applications, and limited aboveground supply is driving long-term contracts.

For its part, copper has become so strategically important that the US is conducting a Section 232 national security investigation into its supply chain, a move historically reserved for defense resources. Major buyers like China and India are stockpiling copper in anticipation of supply constraints.

Uranium is also surging back into focus, driven by bipartisan support for nuclear energy. Legislation and executive orders are fast tracking uranium permitting and enrichment, with utility demand expected to outstrip supply.

Rare earths = real assets

Prins highlighted rare earths as a critical new front in the ongoing global shift in value and power.

‘Rare earths are intrinsic to the nation,’ she said, pointing to their essential role in defense, electronics and energy technologies. With 85 percent of processing controlled by China, the US has launched Section 232 investigations to assess domestic vulnerabilities — reports on copper and rare earths are expected this fall.

Prins described her decision to join the board of a rare earths company as a natural extension of her belief in physical assets: “It’s not just about the asset — it’s about controlling the asset, the processing and the movement.”

That theme underpins the investment case: security of supply, efficient processing and strategic jurisdiction are key to value creation. She also noted a dramatic capital rotation, saying that US$330 billion has exited bonds over the past year, while US$230 billion has flowed into commodities.

“Wall Street is following the real asset story,” Prins emphasized.

 

Rule sits down with Porter Stansberry to discuss his investment strategy.

Prins then said real upside now lies not just in owning resources, but in having processing capability.

New technologies, like advanced rare earths separation methods, are increasing economic viability and attracting private capital. “Where private money and public power combine, that’s where the investment opportunity is,” she said.

With key policy announcements and trade shifts looming in the fall, she warned investors this is a “very critical time” in the real asset uprising. For Prins, the message is clear: investors, policymakers and mining leaders must position accordingly, because, in today’s world, “whoever controls the ground controls the game.’

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

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Chelsea may have claimed the 2025 FIFA Club World Cup, but according to Donald Trump, the original tournament trophy remains at the White House.

The English Premier League power stunned observers in Sunday’s final by rolling past Paris Saint-Germain 3-0, an upset to cap off the first edition of a massively expanded tournament. President Trump — who spent plenty of time ahead of the event bonding with FIFA head Gianni Infantino — made his presence known after the final at MetLife Stadium in East Rutherford, N.J., taking the field to boos before lingering among Chelsea players in an awkward trophy ceremony.

Eventually, Chelsea captain Reece James managed to hoist the trophy, designed by Tiffany and Co. and inspired by the Voyager space probes. Still, per the president, that may not have been the same trophy that has spent much of the last few months sitting in the Oval Office.

Here’s what President Trump said about the Club World Cup trophy:

Trump: Original Club World Cup trophy remains at White House

On Sunday, Club World Cup broadcaster DAZN conducted an interview with President Trump, who declared that he was told by FIFA that the trophy originally unveiled at the White House back in March could remain there in perpetuity.

‘I said, ‘When are you going to pick up the trophy?’ claimed Trump, before stating that FIFA officials replied, ”We’re never going to pick it up. You can have it forever in the Oval Office. We’re making a new one.’ And they actually made a new one. So that was quite exciting, but it is in the Oval [Office] right now.’

FIFA had not previously announced plans to make a second Club World Cup trophy, while Chelsea’s official Instagram page included a photo of airplane pilots holding the trophy — replica or not — before the team departed for London.

The Club World Cup trophy seems to have become part of the decor in the Oval Office since Infantino joined Trump to reveal its design to the world. It has been present for some soccer-related moments, like a bizarre event where the president offered his take on world affairs while confused-looking Juventus players stood in the background. However, it has also remained in the Oval Office during moments with no soccer context, lingering in the background as Trump awarded Elon Musk a key to the White House in May, among other instances.

USA TODAY Sports’ 48-page special edition commemorates 30 years of Major League Soccer, from its best players to key milestones and championship dynasties to what exciting steps are next with the World Cup ahead. Order your copy today.

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