Dear Reader,

This is the AI story no one else is talking about...

It has nothing to do with AI chips, data centers, or stocks like Nvidia...

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At least 10 of these "AI Miners" have already doubled or more, with some running up more than 700%.

But that could just be the start...

Secretary of the Interior Doug Burgum estimates America is sitting on a $200 TRILLION natural resource bounty.

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Bigger than the California gold rush in the 1800s... the Texas oil boom in 1901... or fracking in the early 2010s...

And it's happening RIGHT NOW.

Here's how you can claim your stake in it.

Regards,

Whitney Tilson
Senior Editor, Stansberry Research

Radar Anomaly: Draganfly’s Options Surge Signals Strategy Shift

Reported by Jeffrey Neal Johnson. Published: 9/1/2026.

A surge in call-option volume recently triggered a repricing of drone manufacturer Draganfly Inc. (NASDAQ: DPRO). Sudden spikes in the derivatives market often stem from retail speculation or fleeting rumors. However, a closer look at Draganfly’s underlying fundamentals reveals a different story.

This recent momentum appears to be anchored by a verified pivot into the U.S. defense sector, marked by a strategic military leadership appointment and accelerating institutional accumulation.

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For investors tracking the militarization of unmanned systems and the escalation of global gray-zone conflicts, understanding the mechanics behind this breakout is essential. The combination of structural market constraints and verifiable business execution provides a textbook example of how micro-cap equities can reprice when institutional investors identify a fundamental shift.

Redefining the Airspace: A Strategic Defense Pivot

The macro environment for defense technology is undergoing a structural transformation. Modern conflict relies heavily on unmanned aerial systems, counter-drone technology and sophisticated intelligence, surveillance and reconnaissance payloads. Defense budgets globally are shifting away from legacy hardware and toward agile, deployable drone infrastructure.

Draganfly has traditionally operated in the commercial and agricultural drone sectors, providing enterprise-grade mapping and surveillance. The market is now witnessing a deliberate pivot toward mission-critical government and military contracting. This transition fundamentally expands Draganfly’s total addressable market and changes how institutional investors may value the underlying equity. By moving into the defense space, Draganfly enters an arena with stickier contracts, higher barriers to entry and relatively resilient government spending.

Derivatives on the Radar

The initial signal of this shift appeared in the derivatives market. Options chains recently registered a volume anomaly, with roughly 5,100 October $6 call contracts trading in a single session. For context, existing open interest at that strike stood at just over 2,000 contracts.

When call-option volume greatly exceeds open interest, it can indicate that new directional positions are being initiated rather than existing positions being closed. The vast majority of these contracts traded at the ask. When traders buy at the ask, they accept the market maker’s premium rather than waiting for a better price, potentially signaling urgency and conviction.

This options flow acted as a primary catalyst for Draganfly, sending the stock up around 22% on a single-day volume spike of more than eight million shares, far exceeding the historical average of roughly 1.7 million. Retail traders rarely possess the capital to move a market this aggressively. Flow data of this magnitude can serve as a leading indicator of institutional accumulation ahead of a perceived catalyst. In addition, when market makers sell these calls, they may need to buy the underlying stock to hedge their exposure, creating a feedback loop of upward price pressure known as delta hedging.

Boots on the Ground: Executing the Defense Mission

Derivatives anomalies tend to fade quickly without fundamental backing. The market is aggressively repricing Draganfly as the company takes tangible steps to secure a foothold in the U.S. defense apparatus.

The most prominent catalyst arrived with the appointment of retired USMC Brigadier General AJ Pasagian as president of Draganfly Defense USA Operations. Navigating the Department of Defense procurement pipeline requires deep institutional relationships and an intimate understanding of military acquisition protocols. Placing a former brigadier general at the helm of U.S. operations helps bridge the gap between commercial engineering and formalized military contracting.

This leadership change pairs with the recent $7.5 million acquisition of Skip Dynamix. The defense industry is notoriously capital-intensive, often leading to severe margin compression for emerging contractors. The Skip Dynamix acquisition specifically targets the low-cost defense-drone portfolio. By focusing on cost-effective, scalable systems, Draganfly positions itself to meet the military’s growing demand for expendable, asymmetric drone-warfare tools while protecting its profit margins.

The strategy is already yielding verifiable government ties, highlighted by a recent contract with the U.S. Army Combat Capabilities Development Command to develop next-generation counter-drone systems and integrate new payload technologies.

Refueling the Engine: Low Float Meets High Demand

Draganfly’s structural setup amplifies the recent price action. The company operates with a highly restricted free float of just under 22 million shares. Compounding this supply constraint is an elevated short interest of around 18.4%. Based on historical average trading volumes, short sellers would need nearly five days to cover their positions.

When a low-float, heavily shorted stock encounters a barrage of institutional call buying and positive fundamental news, a supply shock can occur. Short sellers may be forced to buy back shares on the open market to limit their losses, adding fuel to institutional buying pressure.

Recent regulatory filings indicate that institutional investors recognized this asymmetric setup. Mid-August filings revealed active positioning from major institutional players, including Citadel Advisors LLC and CVI Investments Inc. This quiet accumulation occurred just days before the Pasagian appointment and the subsequent surge in the options market.

Landing the Approach: The Defense Contractor Transition

The convergence of a strategic military appointment and explosive options flow paints a compelling picture of an organization rapidly maturing into a legitimate defense contractor. The market mechanics of a tight float and high short interest act as accelerants for the underlying thesis.

Cautious investors may prefer to monitor how the new defense leadership monetizes the existing Army pipeline before committing capital. Those with a higher risk tolerance might add Draganfly Inc. to their watchlist as momentum in the defense sector builds.

Powering the AI Boom: Uranium’s $95 Spark

Reported by Jeffrey Neal Johnson. Published: 9/7/2026.

Wall Street expects a structural supply bottleneck as tech hyperscalers secure multidecade nuclear agreements to power advanced artificial intelligence data centers. With long-term uranium price targets raised to approximately $95 per pound and a confidential Westinghouse IPO on the horizon, institutional capital is positioning ahead of utility companies as legacy supply contracts approach expiration.

Technology sector giants building the next generation of artificial intelligence applications require baseload power that operates continuously and reliably. That reality is pushing major technology firms to recognize nuclear energy as a viable solution for meeting their electricity needs while adhering to carbon-neutrality mandates.

Baseload Reality Check: AI Plugs Into Nuclear

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Discover the gold income fund before the next payout date

The physical economy is colliding directly with the digital one. Technology organizations such as Microsoft (NASDAQ: MSFT), Amazon (NASDAQ: AMZN), and Meta (NASDAQ: META) are aggressively pursuing long-term power purchase agreements to secure existing utility capacity while laying the groundwork for small modular reactors. These companies recognize that intermittent renewable sources cannot easily support the constant power draw of artificial intelligence workloads. At the same time, legacy utility contracts for uranium, many of which include flex-up provisions priced around the mid-$50-per-pound range, are rapidly expiring.

Utility companies are currently short billions of pounds of forward coverage for the latter half of the decade. Major miners have seen unit production costs climb by roughly 83% to 184% over a five-year period, increasing the incentive price required to bring new supply online.

Average utility contract sizes have declined from 3 million pounds to approximately 1 million pounds, highlighting a tightening market. This dynamic recently prompted Wall Street analysts to raise long-term uranium forecasts to around $95 per pound. Spot uranium is holding near $89.50 per pound, while term contracting is already taking place at or near $97 per pound. The structural deficit is clear, and the market is adjusting to finance the next wave of global supply.

Critical Components: Cameco Corporation Reloads

For investors seeking established producers positioned to benefit from this pricing surge, Cameco Corporation (NYSE: CCJ) stands out as a primary beneficiary. The stock recently faced some pressure following a second-quarter earnings report in which the company reported earnings of 13 cents per share, missing consensus estimates of 26 cents.

Revenue also declined approximately 6.8% year over year.

Short interest temporarily spiked to approximately 1.88% of the float, reflecting near-term margin pressure.

Forward-looking investors often view temporary operational challenges as potential entry points within a broader structural supercycle.

A significant liquidity event could soon shift that narrative.

Westinghouse Electric, backed by Cameco Corporation, recently filed confidentially for a potential IPO.

This public offering could serve as a major catalyst by deleveraging Cameco Corporation's balance sheet and supporting an upward revaluation of the company's enterprise.

Smart money appears to be positioning ahead of this event. Recent institutional filings reveal significant accumulation, with prominent asset managers initiating new positions. This capital is seeking to capture margin expansion before legacy utility contracts fully roll off, signaling confidence in Cameco Corporation's ability to benefit from higher term-contract pricing.

Basin Breakout: NexGen Energy Powers Up

For investors willing to take on development-stage risk in exchange for greater leverage to the underlying commodity price, NexGen Energy Ltd. (NYSE: NXE) offers a compelling high-beta profile. NexGen Energy Ltd.'s value proposition centers on the Rook I project in the Athabasca Basin, a region renowned for hosting some of the highest-grade uranium deposits in the world.

NexGen Energy Ltd. is targeting first ore by the third quarter of 2030 and projects annual cash flow of approximately $1.3 billion once commercial operations begin.

Institutional ownership is approximately 42%, indicating steady accumulation by sophisticated investors despite the company's pre-revenue status. Short interest in NexGen Energy Ltd. recently declined by more than 5%, suggesting that institutional bears may be reducing their exposure ahead of upcoming commercial milestones.

NexGen Energy has a dedicated Investor Day scheduled for later in 2026, when it is expected to highlight progress on Rook I construction. Operational momentum can serve as a near-term catalyst for developer visibility, keeping the market engaged as the company moves closer to production. Options market data also shows directional volume in near-term call contracts around the $11 strike, reflecting elevated expectations for upward price action.

Picks and Shovels: BWX Technologies Equips SMRs

The nuclear renaissance extends beyond raw material extraction, requiring heavy industrial manufacturing and engineering to support infrastructure buildouts. As tech hyperscalers fund the deployment of small modular reactors, companies providing critical components stand to benefit.

BWX Technologies (NYSE: BWXT) operates at this intersection. As a leading manufacturer of nuclear components and fuel, BWX Technologies provides the picks and shovels for the nuclear supply chain.

While utility companies focus on securing large-scale reactors, the technology sector's appetite for agile, decentralized nuclear power creates a parallel source of demand. Companies with the regulatory approvals and specialized manufacturing capabilities required to produce small modular reactor components are scarce.

Combining infrastructure providers with primary commodity producers offers a well-rounded approach to capturing the full value of this sector's expansion. The long-term nature of these power purchase agreements provides strong revenue visibility for the manufacturing base that supports them.

Meltdown Averted: Timing the Utility Panic

The convergence of aggressive artificial intelligence power demand and a structural uranium supply deficit creates a highly asymmetric setup. Tech hyperscalers have recognized the necessity of baseload nuclear generation, effectively establishing a floor under future demand. The cost of extracting and processing the necessary supply has risen, helping establish the $95-per-pound long-term pricing model. Utility companies face an imminent supply squeeze as legacy contracts expire and average contract sizes shrink.

Significant institutional accumulation across producers and developers indicates that investors are positioning ahead of the anticipated utility procurement cycle. Investors evaluating the current landscape might consider adding leading uranium equities and nuclear infrastructure providers to their watchlists before utility companies are forced to bid more aggressively for the remaining global supply.

Those with a higher risk tolerance could find value in tracking development-stage companies as they approach commercialization, while more cautious investors may prefer to wait for a pullback in established, cash-flowing producers currently optimizing their balance sheets.