Commodity Heatmap

We have flipped the calendar to 2022. [Katusa Research] Katusa's Investment Insights January 7, 2022 Commodity Heatmap By Marin Katusa We have flipped the calendar to 2022. Whether you crushed it or got crushed in 2021, it’s time to sharpen your pencils, refocus, and prepare to capitalize on new opportunities. Katusa Commodity Heatmap As many of you know, commodities are cyclical. Large price moves normally come in waves and the big winners rotate as the economy changes. - When the economy’s expanding, base metals and industrial commodities do well. - When the economy’s stagnating or declining, precious metals act as stores of value. Below is a table which shows you the annual percentage return for select major commodities. While very basic, it provides a great overview of what was hot and what was not in the past five years. That’s equivalent to nearly two full years’ worth of emissions from all energy production around the world. Gold’s Mild Year After a strong and profitable 2020, gold and gold miners struggled in 2021. Bullion was down 4% while many miners saw their share prices decline by over 20%. Inflationary conditions are driving expectations of interest rate hikes, which has put pressure on gold prices. Further putting pressure on gold and contrary to the outlook of many gurus… The U.S. dollar remained strong in 2021. With the U.S. Dollar DXY Index appreciating 4.70% for the year. - As I have said many times, don’t fight the Fed or underestimate the power of the U.S. dollar. Gold miners themselves faced supply chain issues and cost increases were seen across the industry. In addition, many mining stocks were victims of tax-loss selling and closed out the year near 52-week lows. - However, even in a somewhat gloomy environment, at current gold prices of $1,800 per ounce, [gold miners are incredibly profitable](. I expect 2022 to be a whipsaw year for precious metals with considerable volatility. I recently added to my favorite gold holding. [Click here to find out what it is...]( Uranium Heat Uranium and uranium stocks had a banner year in 2021. Physical uranium was up 40% on the year – its best year in over a decade. The other yellow metal soared higher as physical buyers loaded up on uranium for immediate delivery, and uranium stocks soared as well. A basic basket of uranium stocks returned +80% last year. - KRO subscribers were positioned in the number 1 uranium stock, which returned more than +200% in 2021. In 2022, I expect uranium to remain volatile with lots of opportunities for potential upside. The current situation with protests in Kazakhstan could bring a shock to uranium prices. The country is the world’s largest producer of uranium. To the uranium market, Kazakhstan is like Saudi Arabia, Russia, and all of OPEC to the oil market. The Kazakh state-run operation Kazatomprom is the world’s largest, lowest-cost uranium miner in the world. - Kazatomprom produces over 40% of the world’s uranium. Another key driver in 2022 will be new European legislation which may allow nuclear power to count as a “green” investment. This would allow nuclear power producers to receive lower-cost financing for new builds and for refinancing current operations. I also believe that the players within the spot market will continue to buy up any available pounds. The billion-dollar question is if/when utility participants begin to lock in contracts at prices above $40 per pound. It hasn’t happened yet but perhaps their hand will be forced this year. Copper Copper soared to record prices in 2021 as demand outstripped available inventory and supply. - I provided several free reports on copper over the years that explained why copper prices would soar—and 2021 was the year the copper price went a lot higher. Copper demand surged last year as economies reopened, electric vehicles were produced and renewable power plants were built. As I wrote in my free article [Copper: The Big Squeeze]( the world is going to need a lot more copper as it electrifies. Copper producing regions continue to face scrutiny over labor and ESG issues. Strikes at many major operations caused production shortfalls. It would not be unreasonable to assume additional societal unrest in these major copper-producing regions in 2022. - Our top copper stock return in Katusa’s Resource Opportunities has given us an incredible 3,048% return since it started trading. That is over 30 times your money—yes you read that right! This isn’t a typical return… But it’s a spinout company with an incredible asset and management where we got shares for free. Carbon Attention Carbon credits and emission permits were incredible performers in 2021. The European Allowance permit, known as the EUA, was up 146% for the year. - “Green” carbon credits generated from nature-based offsets climbed 125% in 6 months of trading. - The “white” carbon credits utilized by the airline industry for offsetting rose 246% for the year. Katusa Research is at the cutting edge of the carbon markets. I’ve hired more staff specifically for carbon, and I myself am laser-focused on it. - KRO subscribers [who bought positions in my carbon recommendation]( are sitting on well over 270% gains in less than 6 months. The amount of deal flow and investment opportunities in the sector right now is unlike anything I have ever seen in any other market segment. Perhaps the best thing about this market is that it’s literally being further developed and improved every day. This creates even more opportunities for investors of all sizes. I don’t think there’s anyone in the industry who puts in as much due diligence effort as I do. Months of due diligence go into every idea. Relationships with management teams are cultivated over years. You simply can’t replicate this type of experience using market scanners or social media stock picks. I have two brand new ideas coming down the pipe for my subscribers... We are amidst one of the most exciting markets I’ve ever been a part of in my 20+ year career as a professional fund manager. If you don’t want to miss out on any of my ideas, investments, or research – [click here](. Regards, Marin [Share]( [Share]( [Tweet]( [Tweet]( [Share]( [Share]( Big Ideas We’re Covering Now Get up to speed on where Marin sees huge opportunities. Below are the most important trends and opportunities we’re tracking right now. [Insurance Disaster Trade]( The Insurance Disaster Trade To the 1 in 1,000,000 investors, like the alligators reading this… It will be the start of some of the most critical talks in the global markets. Full details on this [link here](. [Alpha: A Winning Gold Trade for Investors like Clockwork]( Golden Alpha The beautiful thing about the stock market is that there is a never-ending source of opportunity. Here’s one in gold. Full details on this [link here](. [The Rise of America - Remaking the World Order - Trailer]( The Rise of America Get your copy of Marin Katusa's new book The Rise of America at Amazon [Canada here]( or Amazon [US here](. And also in [Barnes & Noble]( or any retail book store near you. Copyright © 2022, Katusa Research, All rights reserved. [Katusa Research Privacy Policy]( This email was sent to *|EMAIL|* [why did I get this?](*|DEFAULT:ABOUT_LIST|*) [unsubscribe from this list](*|DEFAULT:UNSUB|*) [update subscription preferences](*|DEFAULT:UPDATE_PROFILE|*) *|LIST:ADDRESSLINE|* If you wish to stop receiving our emails or change your subscription options, please [Manage Your Subscription]( Katusa Research, Suite 530 - 800 West Pender St, Vancouver, BC V6C2V6, Canada