Paulo Macro on Rolling Bubbles in Commodity Markets

We had the delight of having a detailed & candid chat with Paulo Macro.
Paulo is a financial commentator and investor who’s connect with many people over recent years because of his work analysing the macro plus in his own special style.

Our conversation focused on various commodities and their future, including uranium, gold, copper, oil (& other energy), PGMs and more.

CHAPTERS0:00:00 Introduction0:01:30 Paulo's investing frameworks0:08:20 Getting hyped on uranium0:31:40 What next for gold0:36:25 Which commods will the election impact0:40:58 Are PGMs attractive?
0:49:50 The structural bull market in copper
1:06:40 Mining M&A1:10:30 Bullish energy

My thoughts,

Why AW1’s Storm Copper Project Could Be a Hidden Gem in the Copper Bull Run

Hey team! With copper's demand looking stronger than ever, AW1's Storm Copper Project up in Nunavut could be one of those greenfield plays that catches the eye of savvy investors. Here’s a quick breakdown on why it’s worth keeping a close watch on AW1, especially if you’re bullish on copper and the exploration upside:

1. Copper Demand: Green Energy & Infrastructure

Copper’s set to be the metal of the decade. The world’s going all-in on green energy—think EVs, solar, and massive infrastructure shifts—and copper is the key metal for all this. Storm is AW1’s foot in the door, and if copper demand (and price) keep going up, a project like this could see its economics look better and better. With current market conditions, projects that were borderline profitable at lower copper prices suddenly start to look like viable long-term plays.

2. Greenfield Exploration Means Untapped Potential

Storm Copper is still a greenfield project, which means it’s early stage and high-risk—but that also means high-reward. For AW1, any significant drill results or an upgraded resource estimate could be a game-changer. This is the type of play that can quickly shift from unknown to a hot topic, especially if the drilling starts to show high-grade intersections along the Graben fault network that hint at big resource potential.

3. Majors on the Hunt for New Projects

Don’t forget: The majors are all about replacing their reserves, and they’re hunting for acquisitions as they run low on copper resources. Early movers in copper-rich projects, especially those in jurisdictions like Canada with stable, mining-friendly policies, could end up on the radar of bigger fish looking to secure future production. If Storm can keep delivering results (Cu grade, significant drill metres, and shallow deposits), AW1 could find itself an attractive takeover target, which would be huge for shareholders.

4. Leverage to Copper Prices

Let’s talk numbers. When copper prices go up, the value of any project with copper in the ground goes up too. The leverage here is massive—small price jumps can make a project like Storm a lot more lucrative, even without additional discoveries. A copper bull market could make AW1’s valuation soar as investors look for cheaper ways to get exposure to rising copper prices.

5. News Flow & Catalysts

In exploration, news is everything. Every time AW1 posts drill results, updates on the resource, or any step forward on the project, it’s a chance for the market to re-evaluate the stock. For those with some patience, each bit of progress has the potential to bump AW1’s share price up. The company is in the discovery phase, which, if things go well, could lead to an exciting valuation bump.

Final Thoughts

AW1's Storm Copper Project is a high-risk but high-reward play, and with copper's outlook as strong as it is, this is the type of stock that could go from sleeper to stunner. For anyone watching the green energy metals scene, Storm might be one of the most interesting greenfield projects in the junior exploration space right now.

DYOR, but definitely one to watch in the copper market frenzy!