Dear Investor,

China controls 80% of the world's cobalt refining and 90% of rare earth processing. In December 2025, they restricted defence-targeted exports. The Pentagon noticed.

Deep Sea Minerals Corp. (OTCQB: DSEAF | CSE: SEAS) just submitted a formal bid to supply domestic nickel. Nickel used in aircraft, missiles, and semiconductors. The stuff America needs and can no longer reliably get from China.

This is not a press release about potential plans. SEAS put in an actual bid.

The DIBC offers non-dilutive financing to selected contractors. That means potential government capital without issuing new shares and diluting existing investors.

• The company is small.

• Market cap around C$26 million.

• CEO James Deckelman brings 25 years of offshore experience from ConocoPhillips and BP.

• They closed an oversubscribed $4.22M financing with roughly 24 million shares outstanding.

Speculative and early-stage. Real risks exist. But a formal Pentagon bid is a concrete step, not a concept.

SEAS (OTCQB: DSEAF | CSE: SEAS) could be worth investigating.

View the full report here

CHART OF THE DAY

🔔 Nobody Is Talking About The Real Story: The Bond Market Just Changed Everything

I know bonds are as exciting as watching paint dry. But if you want to understand what the market is actually doing right now, you cannot avoid them. Every headline you are reading is a symptom. This is the disease.

1. The Shift Nobody Noticed: Six weeks ago, investors were debating how many rate cuts the Fed would deliver in 2026. That was the base case. Cuts were coming. Stocks were pricing it in. Then the Iran war started and $108 oil happened. Now there is a 48% chance of a rate hike by January 2027. The new base case is rates unchanged through September 2027. A month ago, those odds were at zero. That is not a small shift. That is a complete reversal.

2. Why This Actually Matters: Mortgage rates just hit a 7-month high. The average 30-year fixed loan is now at 6.41%. For someone buying a $400,000 home with 20% down, the monthly payment is about $115 more than it was two weeks ago. Now imagine rates go higher from here. The US is carrying $36 trillion in national debt. American households are sitting on over $1 trillion in credit card debt. Every single dollar of that gets more expensive when rates go up. This is not an abstract problem.

3. Why Bonds Are The Story: Mortgage rates follow the 10-year Treasury yield. The 10-Year is the heartbeat of the financial system. When oil drives inflation expectations higher, bond yields climb, mortgage rates follow, borrowing costs go up everywhere, and stocks reprice downward. That is the chain. That is what is happening right now.

The ceasefire headlines are noise. The peace deal rumours are noise. This is the signal. Watch the 10-Year. Everything else is commentary.

The Munch Take: Every hour there is a new headline. Iran said yes. Iran said no. Trump posted. Oil ripped. Oil dropped. The news cycle is running the electric slide and taking retail investors with it. The real story is not in the headlines. It is in the bond market quietly repricing what rates look like for the next two years. My wife asked me last month if we should refinance the house. I said wait, rates are coming down. Yes, I’m on the couch again this weekend.

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CHART OF THE DAY

📉 Bitcoin Face-Planted This Morning: $172 Million In Longs Just Got Destroyed

Just when you thought Bitcoin was hanging in there, it woke up this morning and said "Yeah, I'm not showing up today."

The Liquidation Cascade: $172,000,000 in long positions got wiped out in 60 minutes. Longs are bets the price goes up. When they get liquidated at that scale, it forces more selling, which forces more liquidations. The algorithms take over. The humans just watch.

1. The Iran Problem: Iran rejected a 15-point U.S. proposal to end the conflict, crushing ceasefire hopes and gutting appetite for risk assets across the board. Bitcoin is supposed to be digital gold. A safe haven. Instead it trades like a leveraged Nasdaq ETF. When geopolitics gets ugly, crypto doesn't hide. It bleeds first.

2. The Fed Isn't Cutting: The hawkish March 18 rate decision flipped Bitcoin ETF flows from $300-$400 million in daily inflows to consecutive outflows. No rate cuts means no new money looking for a risk trade. Simple math.

The Munch Take: Two gut-punches, one morning. Iran said no. The Fed said no. Bitcoin said the same. Long-term the thesis hasn't changed. But if you can't stomach the drawdowns, you don't deserve the sweet glory of all-time highs.

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