Research primer / Uranium & Nuclear
America needs uranium. Canada has it. Now read the whole fuel cycle.
Nearly a third of the uranium delivered to U.S. reactors in 2025 came from Canada, and only 7% was mined at home.
The research library
Research briefs, primers and company work.
Each piece starts with a theme that stands on its own, follows the numbers into the filings, and ends with the bear case and the sources. Briefs look at two companies; primers explain a mechanism once so the briefs don’t have to.
8 pieces
September 2026
Research primer / Canadian Defense
Canada’s defense billions, and the long road from budget to cash flow.
Canada reached NATO’s 2% target in 2025 and has signed up for 5% by 2035. That is tens of billions of dollars of new procurement.
Research primer / Gold & Precious Metals
Gold is not a gold miner.
Why the metal, an operating mine and an exploration company deserve three different research frameworks — and why Toronto, home to roughly…
Research primer / Special Situations
Flow-through shares subsidize the buyer and dilute everyone else.
Canada gives its own taxpayers a full deduction plus a 15% or 30% credit for buying exploration shares; a U.S.
Research primer / Infrastructure
What a pipeline dividend is actually made of.
Enbridge paid C$0.97 a share on September 1. Behind it sit a Mainline toll fixed to the end of 2028, rate cases in three U.S.
August 2026
Research primer / Critical Minerals
Critical minerals: from the list to the cash flow.
Washington put 60 minerals on its critical list in November 2025 and Ottawa keeps 34 on its own.
Research primer / The Canadian Discount
Canadian dividends arrive 15% lighter, unless they land in an IRA.
Canada withholds 25% on dividends to non-residents by statute and 15% to U.S. residents by treaty; dividends paid to an IRA are exempt…
July 2026
Research primer / The Canadian Discount
The documents are public. They are just in a different place.
SEDAR+ holds the filings, EDGAR mirrors the cross-listed ones as 40-Fs and 6-Ks, and three national instruments decide what a mineral…