Rare earths and mining stocks: six picks for the super cycle

0:00Something absolutely wild just happened in the mining sector and I need to tell you about it right now. The US government just wrote a $1.6 billion check to one mining company most people have never heard of. We're talking about the largest government investment in rare earths in American history. And buried in all that chaos is what I believe could be one of the most significant investment opportunities we've seen in a decade or more.

0:29You get this wrong, you could be buying at the worst possible time. You get this right, well, good stuff could happen. And literally, as I'm recording this, Reuters just broke the news there could be a lot more to this. The US is also introducing a bill to create a stockpile of critical minerals. And apparently all the other 7 large countries in the world, G7, are doing the same thing. So, opportunity is knocking.

0:59My name is Felix Prehn. I'm an ex investment banker. That's Winston back there, who's the brains of the operation. Very large nose, very good at sniffing out good stocks. I'm also the founder of the Goat Academy. We've helped about 20,000 students learn how to trade and invest better and safer. I'm also the co-founder of tradevision.io, which I'll be using during this video because it's how we stay up to date with what's actually happening out there, the same level of detail and information that Wall Street has access to.

1:29Our mission here is essentially very simple. I want to help regular investors, which is what I used to be like you, understand what the smart money already knows before it shows up on CNBC 3 weeks later. I'm not telling you to run out and buy anything. I'm not your financial adviser. I'm not a financial adviser. Not registered with absolutely anything. Winston might be, I'm not.

1:51And I don't know your situation. But what I'm going to do is walk you through exactly what's happening. Show you the specific stocks involved that I have given also to my students. So this is a peek behind the curtain. I give you also the risks and the opportunities and then you can do your own research, make your own decisions. Does that sound fair? If it sounds fair, put an F in the chat or in the comments and let's freaking go.

2:14So here's the deal that shocked the world, particularly the Wall Street world. Trump announced a $1.6 billion investment in USA Rare Earths, ticker symbol USA. And in exchange for that money, the US government gets a 10 per cent stake in the company. So, let me translate that for you. The government became a major shareholder in a mining company. Remember the last time that happened?

2:43This isn't the government giving out loans to some boring development bank. This is Papa Sam saying, "We're going into the mining business." It's no longer drill, baby, drill. It's dig, baby, dig. So, the government is investing in what they say is critical to national security.

3:02Now, why do we care? Why does the US government care? Why are rare earths so important? And why now? Well, rare earth elements are 17 specific metals that you've probably never heard of. Things like neodymium and praseodymium and dysprosium and weird things, Harry Potter spell sounding minerals. But the thing is you can't build any modern technology without these.

3:29Every single electric motor needs it. Every rare earth magnet is built from that. Every wind turbine, every F-35 fighter jet, yeah, it's loaded with rare earths. Your iPhone, yeah, rare earths in there too. So the problem here is, well, it's an opportunity now. There is a geopolitical reality here and that is that China controls 90 per cent of global rare earth processing. Not the mining, the processing.

3:58Because rare earths aren't that rare. It's weirdly named. They're not that rare actually. They're kind of everywhere, all over the place. But processing them, it's kind of dirty, it's expensive, it's complicated. Some have radiation issues. Can take years to set that up. So for the last 30 years, we basically said, "All right, let's send it to somewhere far away and let them deal with it." That's essentially what happened.

4:22And now, shockingly, the US has discovered that maybe relying on what appears to be a rivalry between these two nations, if you need your opponent to build weapons systems, might not be the smartest strategic decision, right? So there have been a few presidents there who somebody should just walk up to and shake them very gently. I'm not proposing any violence against former presidents. That would not be a good thing I imagine.

4:51But what is it that is actually going on here? What is USA? What are they actually building? So they're not just digging up rocks, these guys. And I'm going to give you a whole list of stocks that I believe will benefit from this tremendously, by the way. So stick around. But they're building what they call a mine to magnet supply chain.

5:08And that means they mine the stuff. They've got a massive deposit called Round Top in Sierra Blanca in Texas, which sounds like the kind of place you should film a Western, isn't it? Anyway, never been there in my life. Never been to Texas. I hear it's a fun place. But they have 15 of the 17 rare earth metals right there.

5:31Right now, the second thing is they're going to process it, turn that ore into usable rare earth oxides and then they're going to manufacture magnets from them. So they're building a massive 310,000 square foot magnet facility in Stillwater, Oklahoma. All of America, all controlled domestically.

5:56And the mine, the Round Top mine, is expected to start operations by 2028. You're like 2028? It's too far away. Well, in mining world, it's like a second. Takes ages to develop this stuff. The factory, it's supposed to come online this year. First commercial production line actually in 2026. So, I guess they're going to buy in some minerals and then process them.

6:17So, now let me ask you this. Do you think the US government would write a $1.6 billion check if they thought this was nonsense? This is a bet that rare earths are going to be absolutely critical for the next decade and beyond. And whoever controls the supply chain controls the future. It's bright. It's orange. It's a random reference there for my British viewers.

6:40Now, here is where this gets important for us as investors. Everyone's talking about AI, right? ChatGPT, Claude, all these large language models. Everyone thinks AI is just software, just code sitting in some cloud somewhere. Well, AI is massively physical and it's creating an absolute feeding frenzy for raw materials.

7:04Let me show you why. Data centres are the new factories. AI models need enormous computing power which means enormous data centres. So by 2030, which is in only 4 years, which is kind of weird because that used to be the future, data centres are going to consume 1,000 terawatt hours of electricity. Now, I don't really know what that means, but it sounds like a lot.

7:30But I can put it into perspective. I always say we shouldn't make a video without digging on the French. Here we are. The entire electricity consumption of France is what the data centres will use. Doesn't make you so big and proud now, does it, my French viewers?

7:47So, what does it mean for us? Well, all right. So, we've got some metals here. We're going to go through the metals and we're going to go through the actual stocks to see which are the right ones. Copper. Copper is the king metal. Every single data centre needs massive amounts of copper for power transmission. Think wiring, cooling systems, backup generators. The AI sector could account for 3 per cent of global copper demand.

8:11Doesn't sound like a lot, right? 3 per cent. But you see, there is already a deficit. There's more demand for copper than there is actually copper being dug out of the ground. It's been a deficit since 2024 and it's expected to stay in deficit through all of this year and beyond. So, think about that. Demand's going up. Supply isn't keeping up the pace and we're about to add the equivalent of France's power consumption in new data centres. So, what happens to prices when supply is tight and demand goes? I'll let you work that one out for yourself. You can put it in the comments if you thought you had a particularly brilliant thought around this subject.

8:49Now, steel and aluminium, which is, Winston, they are also really boring, but they can make a lot of money. Each hyperscale data centre, the bigger ones, requires 20,000 tons of steel just for the structure. Tons of aluminium for the server racks and the heat sinks. It's not sexy. Nobody's making YouTube videos about aluminium, but when you need 20,000 tons of it for one building and you're building hundreds of these things, well, then that gets kind of interesting.

9:19And then, of course, we got what everybody talks about, which is chips, right? The GPUs that actually run these AI models. They're going to be TPUs and CPUs, but it's all chips. Just chips, right? Not the stuff you can eat. Now these things are kind of miraculous, but they need a bunch of stuff to operate. They need things like gallium. Germanium, it sounds like, what was that cartoon? There was a big fat guy who was throwing rocks at Roman soldiers and they were always in France, right? That was in Gaul, which is old word for France. And then germanium sounds like Germany, doesn't it? Very odd. Anyway, my mind wanders.

10:00Gallium is essential for high performance chips. Germanium is used for fibre optics, for high speed data transmissions. And then there's the fun part. China controls 98 per cent of gallium and 60 per cent of germanium production. So, the US might want to build some of that. So, Silicon Valley is going, yeah, guys, you got to do something about it.

10:21How did the US get here? Well, Silicon Valley runs the tech world and they're going to buy it wherever it's cheapest until the US government literally passes a law forcing them to stop, which is what just happened basically.

10:36So before we dive into the actual stocks, I want you guys to not follow random stock picks on YouTube because it's going to get you into trouble. I want you guys to understand the actual principle behind it so you can make better decisions. How do you learn the actual principle? Well, I learned it from my mentors who are Wall Street guys. And I will show you in a second.

10:58By the way, in our community, I put out a watch list every Sunday with the actual stocks. So we're going to look at those in a second. But if you want to be smart about this and you want to actually have the skills, so you're not just buying something and then go, "Wait, wait, when do I sell?" Which is what people always say to me. I'm like, "You should have figured that out before you bought it, right?" Which is an annoying thing to say, but it's true. So if you want to learn that process, go to felix.org/getfree. It's a short video. I think it's 17 minutes long. And I actually walk you through the actual physical hard steps of sector selection, stock selection, and when we exit. So if you want to get a little bit deeper into managing your money in a more serious fashion, I'd highly recommend you do that. There's a link to it down below, felix.org/getfree.

11:40But before we dive into the individual names, let's talk about the bigger picture because we're seeing something that isn't just one company or one metal going up. We're potentially at the start of what's called a super cycle. Now, what's a super cycle? Well, a super cycle is basically when commodity prices stay way above normal for a really, really long time. So we're talking 10, 15, sometimes 20 years. This isn't just a normal boom and bust cycle where prices go up for 18 months and then crash, which is usually what happens. This is a structural thing. This is long-term demand that isn't going away. Now, the last big super cycle was from 2000 to 2014.

12:22Why do we have that super cycle? China built China. All the infrastructure. If you've been, everything is modern. High-rise buildings, high-speed trains, infrastructure, just everywhere, right? Brand new airports, all that kind of stuff. So they built a lot. And if you owned mining stocks during that time, you did very, very well. You Australians down there under, you know what I'm talking about, right? That drove the big Australia boom. And I used to work for Macquarie, a big Australian bank. So a lot of my friends spent a lot of money on that.

12:53Now, since the beginning of 2025, the metals and mining index has gained nearly 90%. It's outperformed tech stocks. It's outperformed everything. And yet, mining stocks are still trading at a 20% discount to their price to book ratio compared to the broader market. So the sector is up 90% and it's still relatively cheap compared to history. So what does that tell you? It tells you the market is just starting to wake up to this. Wake up people.

13:21So the super cycle is being driven by 3 massive trends happening at the same time. We have the AI boom. I just showed you that data centres, the chips, the infrastructure. This isn't going to go away. AI only just started. It's like the internet in 1997 or something. The energy transition comes with electric vehicles, wind turbines, solar panels, all incredibly metal intensive. An EV, an electric vehicle, uses 3 times more copper than a regular gas. A single wind turbine uses about 4.7 tons of copper.

13:55And then you get defence. Countries are rearming. Defence budgets are going up. The US, Trump wants to put up the defence budget by 60%. Every missile, every jet, every ship is loaded with copper, aluminium, rare earths, uranium, all that stuff. And what are they building? Well, they're building more electric things, right? Drones, autonomous tanks and planes and ships and submarines. What are they all going to need? Well, a ton of all the things to make electric motors with, which is rare earth minerals.

14:25So you've got this 3 secular trends thing happening at the same time, all multi-decade, all requiring the same materials. And the problem is, and again the opportunity if you're positioned correctly, the supply side is broken. We've been underinvesting in new mines for over a decade. Why? Because after the last super cycle crashed by 2015, nobody wanted to touch mining. It was like the crazy thing. Don't touch mining. Prices were low. Returns were terrible. No one's going to go, I'm going to invest in 5 years and open a new mine hoping that this is going to turn around.

14:58That's how we get late. And just to give you an idea how slow it is to build a mine. The average thing about mining is that from discovery to production, the average lead time is how many years? Give me a guess. 16 years. You probably thought 3 or 5, right? No. 16 years. I've got a friend actually who has a gold mine. He's been talking about that thing for years. They haven't dug a thing out of the ground yet. Now, what that means is that even if we're going to start building new mines today, say copper mines, which we aren't by the way, they wouldn't come online until 2042.

15:34Meaning demand is going vertical right now. Supply deficits are everywhere. Copper, silver, nickel. Silver has been in a supply deficit for 7 years. 7 straight years of consuming more than we mine. Eventually that math stops working, right? Because the stockpiles get reduced, which is, have a look at the silver price. Have you seen the silver price? This is the silver price, right? No one could have seen that coming. Well, if you watch my training, you will probably disagree with that statement. Felix.org/getfree. Check that out.

16:06So let's get into specific companies. I'm going to focus on the most interesting ones, the ones that have actual catalysts, real projects that aren't just some explorer with a hole in the ground and a dream. So let's break down 6 opportunities, 6 stocks, and also tell you how you can stay in touch with those.

16:24So, USA. Now, what I'm going to do here, this is in Trade Vision. There's a link down below. You can get yourself a free trial to it. I'm going to create a watch list and we're going to call it mining top 6 and I'm going to add these stocks to it. So this one is USA. And the really cool thing we're going to do with this is that when you go to the homepage, you can select your mining top 6, which obviously at the moment is just one stock. And then you can turn on the top right here, news alerts. That little alarm bell up there is news alerts. And you can do that for all of your watch lists. Turn it on, turn it off. The beautiful thing with that is that you're then going to get updates when something happens with these stocks that we believe is going to move the market and happens in almost real time. And it looks something like that. So you can see what that looks like. And that's what I get. I obviously follow a lot of stocks. You might follow a lot less. And it means you don't have to dig through the news, doesn't have to wonder whether something is happening. You just are informed. You're just up to date.

17:29So USA is the first one. Now, by the way, we started talking about that one in August last year. Hasn't honestly done a lot since. We were a little early to the story, but I think my humble opinion that right now is another one of these big breakouts that we're about to see. Risk management is key with all of these because they're fairly volatile. But they, as I say, they just got the $1.6 billion from the government. That's a pretty important thing.

17:56So they're the only fully integrated mine to magnet supply chain in America, right? Deposit in Texas, 15 out of the 17 rare earths, plus also lithium and gallium. The government literally owns 10% of the company, which means they have a vested interest. So if you're a US defence contractor, wouldn't you love to have domestic tariff-proof supply of rare earth magnets? If you're the defence department, you're probably going to guarantee the output. You're going to buy it, right? So first production here is going to come online this year. That's the expectation. Not 10 years away, but months away.

18:29Now, what's the bear case? They're not making anything yet. It's a development story, right? Development stories can go wrong. Permits can get delayed. But given that the government owns 10%, maybe that will offset some of the risk. The mine, as I said, doesn't start until 2028. That's 2 years away. So if rare earth prices collapse between now and then, everything changes. But let's be honest, the government isn't exactly known for picking winners in the private market. So that's why I advocate very, very strong risk management for this.

18:57Second stock is MP Materials. And again, I'm going to add that to my list. So I just pop in here and I just click on the little plus symbol here next to my list. Add MP Materials to the list. Yeah, there we go. Now we've got it there. And then if we were to go back to our heat map, we can now see both of them at the same time. Right? You can see how that's popping. You can see how it's popping. You're also now seeing

19:18News articles here related to your watchlist. You see how clever that is? I think it's very clever. Get yourself a free trial to TradeVision is down below.

19:29Now, MP Materials, and again we've talked about MP Materials in the past. I don't know if I have a marker on that. I think here, 28th of April we had an entry point. We actually, I think I actually bought it on the 5th of June and it went on a beautiful run and it pulled back and I got out of it. Which is what I always suggest you do. Don't get married to a stock. Hold it because you want to make money out of it.

19:48They're the only large-scale rare earth producer in the western hemisphere right now. They operate the Mountain Pass mine in California. They're already producing. So a development story. So their bull case here is that they have record production of neodymium praseodymium. However the heck anybody pronounces that, whatever that might be. It goes into magnets, that's all I know. He taught me that.

20:11So they're building their own magnet manufacturing on top of that in Texas. All things seem to centre around Texas. And they have a multi-year supply agreement with a little company you may never have heard of, Apple. They have partnerships with the US Department of Defence. And it's an established company with real revenue, real customers, and real production. Stock's up 230% last year.

20:34Despite that run, they're still trading at a significant discount to their peak valuations. Bear case. Well, they're up quite a lot, right? Rare earth prices are volatile. If prices drop, margins compress and blah blah blah. So the transition from concentrate producer to magnet manufacturer is also something that is riskier because they haven't done it before, but this is a more established, but you're not getting at the ground floor like you might be with USA potentially, right?

21:04Stock numero is UROY. We're talking about that. I also owned that at some point last year. So let's type that in here as well. UROY. And then again we add that to our watchlist here and that's had also a lovely little run up but it's still significantly lower than it was in 2021 and the demand is significantly stronger in my humble opinion as a financial advice. You got to do your own research.

21:25But let's really talk uranium here because the AI boom is creating a nuclear renaissance. I also talk sometimes about the fact that global warming was pitched as carbon pollution only and we should care about no other pollutants except for carbon. And then for some strange coincidence turns out that nuclear power produces no carbon. No, it's just purely clean. There's nothing wrong with that whatsoever. There's no radiation, there's no waste. It is just a beautiful technology and we should all have one in our backyard. At least that's what Bill Gates says.

21:59So all those data centres need clean power. It's clean now. You see what they did? Do you remember how much the world loathed nuclear power after all those power plants went up and Ukraine and Japan and so on and now it's clean. It's good for the planet. But there is of course truth in it that solar and wind can't do it. You actually need backup consistent power because those two are intermittent, right? When the sun doesn't shine, when the wind doesn't blow or it blows too much, those things don't really work.

22:31Coal and gas, they're not very popular with the we hate carbon crowd because apparently they pollute very badly. So what have you got left? You got nuclear. So to me the whole thing is just a beautiful marketing scheme of the nuclear industry. And you might disagree with me violently. Let me know down below in the comments. Someone's going, "Felix, stop with the politics. You know nothing about this. It's real." It might well be real. Just saying it's being hijacked, right?

22:57Or what I really love is when I talk about the Soviet Socialist States of Europe, also known as the European Union, and then the Europeans really kick off. You have no idea. And the funny thing about them is that they never say why I'm wrong. They always just say it's much worse in other countries. That's always the defence. I'm like, yeah, I wasn't saying it wasn't worse in, I don't know, North Korea. But I'm just saying it's not very good where you are. And that really takes some people off, which is kind of funny really.

23:25Anyway, we have offended the Europeans and the French. I'm keeping a score, which is good. Apparently the French are European too. Now UROY, what about UROY? They don't operate any mines. And this is why I like them. They own royalty interest in uranium projects. That means when those mines make uranium, UROY gets a percentage of the revenue or production.

23:53So it's passive income then, your operational headaches, plus they hold physical uranium, probably under the bed, which goes up in value if uranium prices go up. So the bull case is that tech giants like Microsoft, founded by one of the kindest most generous most beautiful souls in the world as we all agree, and Google and Amazon, they're all looking at nuclear power for the data centres. In fact Microsoft is actually invested in one very heavily. They're all doing so.

24:21Uranium demand is structural and it's long term. Once you have a power plant you need more uranium. So UROY has a strong debt-free balance sheet. They're diversified across multiple projects, not depending on just one. And if uranium prices go up, UROY benefits directly without having to dig a hole. Right.

24:36What's the bear case? Nuclear is still controversial in many places. Apparently I'm controversial. Permits can take forever, but I think they're going to speed them up. And uranium prices are volatile. Now if data centre operators somehow decide we can do all of this with, I don't know, natural gas or a lot of stuff and on treadmills, then maybe the rally won't happen. But I like UROY because there's less downside risk. There's less leverage in a company like this.

25:06Now a stock numero 4 is TMC, The Metals Company. It sort of says it on the tin, doesn't it? So let's put TMC on our list as well. And again, add that to the list here. Bada bing. And what do they do? Well, this one's a little bit wild to be honest with you. They're pioneering deep sea mining, right? I mean, as if mining wasn't difficult enough, let's do it underwater, like 10,000 ft.

25:34So they're going after polymetallic nodules. I don't know what that means, but I read it, on ocean floors. And they're apparently potato-sized rocks. I mean literally, and I could have just made this up. It's not like anybody's been down there, right? They're potato-sized rocks that are rich in nickel, copper, and cobalt, and manganese. I use manganese for painting actually. It's very nice. So basically all the stuff you need for electric vehicle batteries. They're sitting apparently at the bottom of the Pacific Ocean.

26:01As I say, they could have just made it up and it could just be the biggest Ponzi scheme in the world because no one's been down there. But let's just say that there is something in this because just beginning of this year they became the first company to file a consolidated application for exploration and commercial recovery under a new US permitting process.

26:23Because I imagine they went to the permitting board and said, "We'd like to dig." And like, "Oh, where's your mine?" And like, "It isn't a mine. It's potatoes, right? Where are your potatoes?" On the sea floor, really deep down. They're like, "Oh." Right. Anyway, it's a big deal. They're ahead of everybody else in that regulatory framework. And they have an offtake agreement with Glencore. Now Glencore is one of the world's largest commodity traders. They are the people who look after all the orphans and all the fluffy bunnies in the world. Those kind of people.

26:52But if deep sea mining were to work, it could unlock one of the largest untapped mineral resources on the planet. Now environmentally it might be cleaner than traditional mining because we're not destroying mountains. We're just bothering some weird looking fish, so we won't notice it. We'll feel better about it.

27:09What's the bear case? Well, it's never been done before, ever. There are huge environmental concerns. Apparently the weird sort of translucent puffer fish are very concerned about it and are forming a union. And regulatory approval could take a while because nobody understands what the heck these guys are doing. Tech is entirely unproven and it could be a very expensive science experiment that pisses off jellyfish. So this is high risk. It is also potentially high reward. It's a speculative play.

27:41Now can we do moonshots in a responsible way? In my humble opinion, yes. But we have to make it very small. We have to have some risk parameters attached around it that are automated. Again, you want to learn more about that, go watch the free masterclass, the 17-minute video, felix.org/getfree.

27:58So your conservative investors, you're going to be shaking your head. Maybe you got a chuckle out of it. But there is somebody else. There is CRML. We're going to be adding that to our mining top 6 as well. A nice little recovery here, but actually to me that looks very good. Volume is picking up steam.

28:16What do they do? Well, they're an exploration company. They sort of go through the jungle and they look for the, Raiders of the Lost Ark type thing. And they found something called the Tanbreez Rare Earth Project in guess where? Penguin Land, Greenland. So they've done some recent drilling that confirmed they have high-grade mineralisation, particularly heavy rare earths. They're planning a joint venture to build a rare earth processing facility with the penguins. So this is an earlier stage than USA or MP.

28:48Materials, but it is a world-class asset in a, I was going to say, stable jurisdiction. I'm not sure that's entirely true. No, I actually think Greenland's a very stable jurisdiction. I think Trump never really was going to invade it or anything insane like that. He just goes in and he says, "I want it." And then they say, "Well, we don't want to do that." And you say, "Well, can I have the mineral rights and can I do whatever I want?" And then they go, "Yeah." So anyway, risk, no production yet, years away from revenue, but penguin management, right? So you got to take your pick here.

29:25Here's another one. This is a gold stock. And if you've been asleep on the whole gold trend, gold has done relatively well. It's been a good year for us because we started getting into gold miners at around about May last year I think, right, when gold didn't do anything for a while but then gold caught up and now gold is up 56%.

29:48But a gold company here called Goro, and again I'm going to add that to our list, 5 down and 1 left to go, is also had a very good year. Now as you can see this is a little bit of a cyclical beast. So this was one trading at $31. It's trading at $161 right now. Yeah, that's down a lot. I'm just going to leave it at that. Actually, let me go on a month chart and then I might be able to squeeze it on the chart here. How much is that down, mate? Anybody? We're down 94%.

30:20So say the insane thing was going to happen and it would recover back to original levels, because I'm not promising you that, would be a 1,000 but a 2,000% gain. And again, that's definitely not a promise of those kind of crazy outcomes. What do they do? They're a precious metal producer. They had a major operational turnaround in late 2025. They started identifying as a potentially profitable business again, whereas prior to that they were just a bunch of lunatics running the asylum.

30:47And they have high-grade production from the Three Sisters area at the Don David Gold Mine in Mexico. Didn't you like how I just said that like I knew where that was? I have no idea where that is, but apparently it is in Mexico. And that drove strong cash flow. The company is debt-free, which doesn't really happen to mining companies. Silver accounts for the majority of their revenue. And silver, if you've been asleep, has industrial uses. Solar panels, electronics, every AI chip has silver in it. And they're also advancing the Back 40 project in Michigan, which is a large-scale development in the US.

31:23The risk is they're operating in Mexico, right? Tequila is good. The food has apparently an impact on your digestion. And I'm sorry, my Mexican friends. You know what I'm saying? It is not essentially the most, how shall I put it, law-abiding space. That's kind of the risk here. Goro.

31:47Now, did we miss one? MP, TSMC, Ucore. We didn't put the last one on the list, right? CRML. Did we add that to the list? We did not. CRML, Winston, you should pay attention, right? Let's add that to the list here too. And then we can go and look at our new heat map and we're now informed about this. We've got a little alert bell. So we're going to get notifications and we can also see the news articles in here.

32:08And then if you want to go back to looking at just the S&P 500, you can go back to the S&P 500. You want to switch back to your mining top 6 list, you've got your mining top 6 list. So in Trade Vision, what could go wrong? Well, mining is cyclical. That's really what I want to say on that subject.

32:30I'm going to give you a little bit more detail than that. Commodities can swing 20 to 30% in a week. China could cut off exports. It could flood the market one way or the other. And what if technology changes? What if we get fusion power in your coffee cup, or we get new magnet technology that doesn't need any magnets or minerals? Apparently there is a potential replacement for silver. The solar industry is working on that. So if prices go up too much, people are going to try and find an alternative. That's the risk, but it's probably going to take quite a long time.

33:03We also have regulatory issues, execution, maybe you're late. But what's the big picture? Well, the government has put $1.6 billion into this. This is not the first investment in the rare earth sector. The AI boom is building this massive infrastructure that's all going to need more of these metals, including silver. So I think we're at the early stages of a metal super cycle. Winston, any thoughts? Shall we wake him? Winston, what do you think about the metal super cycle? It's not a go for it. I go back to sleep.

33:34All right. So if we hit a global recession, there's all that stuff that can happen. So I'm not telling you to buy anything. I'm not saying this is guaranteed. I'm not saying there aren't risks. Do your own research on this. Risk size appropriately. That's the most important thing with anything. But I think it's a sector worth paying attention to. Fundamentals are real. We got demand. We got deficit and supply. We got government intervention and if the super cycle plays out, I think we can make some real money here over the next 3 to 10 years, but it's not a promise of future outcomes. Smart money is already moving in.

34:02So if you want to learn how to pick those stocks, how to pick those sectors, how to position, and all that kind of good stuff, then please watch the mini masterclass at felix.org/getfree. Get yourself informed by hopping onto Trade Vision and make sure you actually know what the heck's going on here because this happens every single day. We only give you the news that we think is going to move the market, live. We don't give you all the noise and jibber and bollocks political opinion on stuff. Obviously I spout some out, but I generally just take the piss out of whoever is running the country, whoever thinks they're running the country, which might be a whole other conversation.

34:40So understand the risk. If you got some value out of this, well, help some other poor folks out and share this video. And that's all I would say. And Winston, any final words? Come here. Come on. Come on, Winston.

34:55Oh, you sleepy creature. We did a long hike yesterday, which was lovely. And then he did a pretty tough playtime this morning with his friends, so that's why he's looking as sleepy as he is. I wish you guys a beautiful, successful year. All the best. 2 months ago I told you that Japan's debt crisis was going to crash your portfolio. Most people ignored me, of course, but guess what just happened? Japan's 30-year.