Makes total sense..
USAR US acting well.
UEC & LTBR US Nutstuff still maintains could be beneficiaries here….
https://www.bloomberg.com/news/articles/2026-02-02/trump-launches-12-billion-minerals-stockpile-to-counter-china
Trump plans to launch a $12 billion strategic critical minerals stockpile, called Project Vault, designed to shield US manufacturers from supply shocks and reduce reliance on China, combining $1.67 billion of private capital with a $10 billion loan from the US Export Import Bank to procure and store materials such as gallium, cobalt and rare earths used across automotive, technology, aerospace and energy industries; backed by major companies including GM, Boeing, Google and Stellantis and operated with the help of global commodities traders, the initiative mirrors the strategic oil reserve model, allowing participating firms to lock in prices, manage volatility and access supplies during disruptions, while reinforcing a broader US push to diversify mineral supply chains after Chinese export controls exposed significant economic vulnerabilities.
https://nutstuff.co.uk/disclaimer
USAR US acting well.
UEC & LTBR US Nutstuff still maintains could be beneficiaries here….
https://www.bloomberg.com/news/articles/2026-02-02/trump-launches-12-billion-minerals-stockpile-to-counter-china
Trump plans to launch a $12 billion strategic critical minerals stockpile, called Project Vault, designed to shield US manufacturers from supply shocks and reduce reliance on China, combining $1.67 billion of private capital with a $10 billion loan from the US Export Import Bank to procure and store materials such as gallium, cobalt and rare earths used across automotive, technology, aerospace and energy industries; backed by major companies including GM, Boeing, Google and Stellantis and operated with the help of global commodities traders, the initiative mirrors the strategic oil reserve model, allowing participating firms to lock in prices, manage volatility and access supplies during disruptions, while reinforcing a broader US push to diversify mineral supply chains after Chinese export controls exposed significant economic vulnerabilities.
https://nutstuff.co.uk/disclaimer
Bloomberg.com
Trump to Launch $12 Billion Critical Mineral Stockpile to Blunt Reliance on China
President Donald Trump is set to launch a strategic critical-minerals stockpile with $12 billion in seed money, a bid to insulate manufacturers from supply shocks as the US works to slash its reliance on Chinese rare earths and other metals.
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Nutstuff Comes Alive - Feb 2, 2026
https://nutstuff.co.uk/disclaimer
https://nutstuff.co.uk/disclaimer
The Real Utility of Blockchain just took another huge step forward, and its in the UK.
ORCADIAN/ ORCA LN a North Sea Oil company partnering with a “RWA” Realword Asset tokenisation protocol?
Start thinking through the laterals for this.
https://orcadian.energy/cln-update-issue-of-equity-total-voting-rights/
“This is absolutely not a meme coin pretending to be an energy company; think of this as an oil field plugging itself into a crypto wallet”.
Think about it for 2 key Groups:
For energy investors, Orcadian is a conventional North Sea developer using an unconventional funding tool. It owns real licences, real projects and future production, with the added kicker of large accumulated tax losses that allow early revenues to flow with minimal tax drag. The partnership with Albion Labs is simply capital discipline: instead of repeated equity dilution, Orcadian monetises small, defined slices of future cash flow to fund development while retaining control of the underlying assets. This is orthodox energy economics with smarter balance-sheet maths.
For crypto and digital-asset investors, Orcadian is what “real-world assets on-chain” are meant to look like. Albion Labs is the energy protocol ,
the translation layer taking oil and gas revenues (royalties, revenue shares, yield streams), wrapping them in proper legal and regulatory structure, and enabling them to exist as on-chain income assets. This is not narrative or meme-driven utility; it is barrels turning into cash and cash turning into yield on-chain. If RWAs are the bridge from speculation to substance, ORCA via Albion Labs is that bridge being actively used.
ORCADIAN/ ORCA LN a North Sea Oil company partnering with a “RWA” Realword Asset tokenisation protocol?
Start thinking through the laterals for this.
https://orcadian.energy/cln-update-issue-of-equity-total-voting-rights/
“This is absolutely not a meme coin pretending to be an energy company; think of this as an oil field plugging itself into a crypto wallet”.
Think about it for 2 key Groups:
For energy investors, Orcadian is a conventional North Sea developer using an unconventional funding tool. It owns real licences, real projects and future production, with the added kicker of large accumulated tax losses that allow early revenues to flow with minimal tax drag. The partnership with Albion Labs is simply capital discipline: instead of repeated equity dilution, Orcadian monetises small, defined slices of future cash flow to fund development while retaining control of the underlying assets. This is orthodox energy economics with smarter balance-sheet maths.
For crypto and digital-asset investors, Orcadian is what “real-world assets on-chain” are meant to look like. Albion Labs is the energy protocol ,
the translation layer taking oil and gas revenues (royalties, revenue shares, yield streams), wrapping them in proper legal and regulatory structure, and enabling them to exist as on-chain income assets. This is not narrative or meme-driven utility; it is barrels turning into cash and cash turning into yield on-chain. If RWAs are the bridge from speculation to substance, ORCA via Albion Labs is that bridge being actively used.
❤4
RIG buying VALARIS!
Honestly this deal is not a one-off curiosity; it is absolutely the template for how capital reallocates when constraint finally ‘trumps’ narrative. Offshore drillers have survived a decade of starvation, wrote off balance sheets, scrapped fleets and outlasted the ESG purge and are now finally discovering that scarcity has a price. A $5.8bn all-stock take-out is not a cyclical top signal but a simple reset of terminal value: public markets were still pricing decline while corporate buyers are underwriting permanence. Transocean, Noble and Seadrill still trade on optically cautious multiples despite replacement costs and forward cash flows that private buyers already capitalise at materially higher rates. The same mispricing runs through offshore services and OSVs, specialty shipping, and yes even coal ( see thoughts earlier!), all where listed equities sit on 2–3× cash flow while private capital quietly assumes terminal value and harvests yield. I’d own these assets not because they are fashionable, but simply because they are real and cannot be replaced. This is not really a bet on oil prices ( clearly not in 2026! ) or on macro heroics; it is simple arithmetic. When public multiples imply extinction and take-out multiples imply some value of infrastructure, I salivate!
Honestly this deal is not a one-off curiosity; it is absolutely the template for how capital reallocates when constraint finally ‘trumps’ narrative. Offshore drillers have survived a decade of starvation, wrote off balance sheets, scrapped fleets and outlasted the ESG purge and are now finally discovering that scarcity has a price. A $5.8bn all-stock take-out is not a cyclical top signal but a simple reset of terminal value: public markets were still pricing decline while corporate buyers are underwriting permanence. Transocean, Noble and Seadrill still trade on optically cautious multiples despite replacement costs and forward cash flows that private buyers already capitalise at materially higher rates. The same mispricing runs through offshore services and OSVs, specialty shipping, and yes even coal ( see thoughts earlier!), all where listed equities sit on 2–3× cash flow while private capital quietly assumes terminal value and harvests yield. I’d own these assets not because they are fashionable, but simply because they are real and cannot be replaced. This is not really a bet on oil prices ( clearly not in 2026! ) or on macro heroics; it is simple arithmetic. When public multiples imply extinction and take-out multiples imply some value of infrastructure, I salivate!
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Nutstuff Comes Alive - Feb 10, 2026
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https://nutstuff.co.uk/disclaimer
🔥7❤1
HELIUM/HNT: A 60%+ move off the lows in the last weeks says a few still care. WHY? Well see the dashboard below, the 124k hotspots can be 1m, and the now 3.4m users can be be 30m! (>1m+ added in last mth!) I would expect 5M+ daily users by year-end, with the potential for exponential growth as AT&T unthrottles subscriber access (both contract expansion and technical integration are accelerating now).
Right now fact =3.4m users connected to Helium today alone. The US population is 340m. So simplistically, 1 in every 100 Americans connected to Helium. That’s nothing short of incredible.
If you’re asking me a simple question; which DePIN project has crossed the line from crypto theatre to actual infrastructure, the answer still remains Helium. Not because the token has behaved well, it really hasn’t, but because it is one of the very few networks selling a service non-crypto users actually pay for. Wireless connectivity is not a vibe; it’s plumbing. Helium’s mobile offload agreements, carrier partnerships and $20m+ annualised revenue place it in a different category from most DePIN experiments still subsidising activity with emissions. Others like Render sell GPU cycles. Filecoin sells storage. Hivemapper sells mapping data. All are interesting. But Helium is closest to being a decentralised telecom layer with real-world demand elasticity. The brutal truth, however, is this: revenue is not yet large enough relative to token supply to force valuation discipline. The opportunity lies precisely there. If burns sustainably exceed emissions and mobile adoption compounds, the token becomes infrastructure equity priced like a distressed altcoin. If not, it remains a clever experiment. In DePIN, the question is simple: who is paying, and would they pay if the token disappeared tomorrow? Helium at least has an answer to that question. Most others honestly still don’t.
For those who want detail:
The tokenomics tell the story: as of Feb 14, daily burns (~46K HNT) are running at roughly 2x daily emissions (~22K HNT), producing a net supply reduction of ~54K HNT per day. That's approximately 5–6% annual supply contraction at current rates and accelerating. The market has started to re-price this over the past few days, but the network remains significantly undervalued on an infrastructure basis, with almost zero visibility across traditional telecom analysts.
https://nutstuff.co.uk/disclaimer
Right now fact =3.4m users connected to Helium today alone. The US population is 340m. So simplistically, 1 in every 100 Americans connected to Helium. That’s nothing short of incredible.
If you’re asking me a simple question; which DePIN project has crossed the line from crypto theatre to actual infrastructure, the answer still remains Helium. Not because the token has behaved well, it really hasn’t, but because it is one of the very few networks selling a service non-crypto users actually pay for. Wireless connectivity is not a vibe; it’s plumbing. Helium’s mobile offload agreements, carrier partnerships and $20m+ annualised revenue place it in a different category from most DePIN experiments still subsidising activity with emissions. Others like Render sell GPU cycles. Filecoin sells storage. Hivemapper sells mapping data. All are interesting. But Helium is closest to being a decentralised telecom layer with real-world demand elasticity. The brutal truth, however, is this: revenue is not yet large enough relative to token supply to force valuation discipline. The opportunity lies precisely there. If burns sustainably exceed emissions and mobile adoption compounds, the token becomes infrastructure equity priced like a distressed altcoin. If not, it remains a clever experiment. In DePIN, the question is simple: who is paying, and would they pay if the token disappeared tomorrow? Helium at least has an answer to that question. Most others honestly still don’t.
For those who want detail:
The tokenomics tell the story: as of Feb 14, daily burns (~46K HNT) are running at roughly 2x daily emissions (~22K HNT), producing a net supply reduction of ~54K HNT per day. That's approximately 5–6% annual supply contraction at current rates and accelerating. The market has started to re-price this over the past few days, but the network remains significantly undervalued on an infrastructure basis, with almost zero visibility across traditional telecom analysts.
https://nutstuff.co.uk/disclaimer
Nutstuff
Disclaimer | Nutstuff
Important Disclosure Statement from North Breache Limited, trading as ‘Nutstuff’.
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February 18, 2026:
NutStuff comes alive again from Africa; Some lessons for Markets from the Anglo-Zulu war!!
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NutStuff comes alive again from Africa; Some lessons for Markets from the Anglo-Zulu war!!
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❤2
Own Stuff not Fluff!
2026 so far has reassuringly been about “needs vs wants” and about companies that Make stuff and /Or own stuff that cant easily be disintermediated or replaced Vs those that dont.
The North Sea / UK Energy is this with a massive political value arbitrage to play for, and I have been on this for 2yrs+! ( see article here), I think climate lunacy and ESG ideology is approaching a head on car smash with economic reality!
Then think of Offshore drillers ( only 3-4 real co’s left in the world now owning and operating mega rigs, and noone will build another billion dollar rig or drill-ship again!) .
Spare me the cr*p about a world free of fossil fuels, we are bored of this being seen as reality anytime soon.
Now ask me about all the stuff people own is huge in indexes and everyone is desperate to average down on ; whether some Software business @30x revenues gets disinter-mediated by three smart guys or their AI AGENTS in a garage in LA or Tel Aviv and I’ll tell you I don’t have a clue and its almost impossible to know!
So…..I think I feel happy owning and knowing more about what I own.
A YTD snapshot of the Nutstuff Portfolio leaders.
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2026 so far has reassuringly been about “needs vs wants” and about companies that Make stuff and /Or own stuff that cant easily be disintermediated or replaced Vs those that dont.
The North Sea / UK Energy is this with a massive political value arbitrage to play for, and I have been on this for 2yrs+! ( see article here), I think climate lunacy and ESG ideology is approaching a head on car smash with economic reality!
Then think of Offshore drillers ( only 3-4 real co’s left in the world now owning and operating mega rigs, and noone will build another billion dollar rig or drill-ship again!) .
Spare me the cr*p about a world free of fossil fuels, we are bored of this being seen as reality anytime soon.
Now ask me about all the stuff people own is huge in indexes and everyone is desperate to average down on ; whether some Software business @30x revenues gets disinter-mediated by three smart guys or their AI AGENTS in a garage in LA or Tel Aviv and I’ll tell you I don’t have a clue and its almost impossible to know!
So…..I think I feel happy owning and knowing more about what I own.
A YTD snapshot of the Nutstuff Portfolio leaders.
Subscribe: https://www.nutstuff.co.uk/subscribe
Nutstuff
404 | Nutstuff
❤2
www.nutstuff.co.uk will be able to see YTD Nutstuff portfolio has 8 Energy/ UK 🇬🇧 posns +>30%
Nutstuff 3mins here…
45 years of US–Iran hostility did not begin with a tweet, nor will it end with one; it is the slow grind of revolution meeting empire, proxy meeting aircraft carrier, sanction meeting smuggler. From the hostages in 1979 to Beirut ’83, from Khobar to the Iraq insurgency, from JCPOA paperwork to Soleimani’s funeral procession, each administration has tried a different lever, absorb, retaliate, contain, sanction, escalate and none has produced finality because there is no clean “finish” to a structural rivalry. Iran cannot defeat the United States conventionally; the United States cannot remake Iran cheaply; so the contest lives in the grey zone: insurance markets, militias, shipping lanes, enrichment percentages, election cycles. Hormuz, in that sense, is less a battlefield than a mirror, it reflects how entangled the real world is. Twenty million barrels a day is not an abstraction; it is diesel for Indian buses, feedstock for Korean petrochemicals, jet fuel for European holidays, fertiliser for African crops. Three-quarters of humanity lives east of Istanbul and feels the price before Washington does. That is why closing a strait is about Insurers actuarial tables before it is about frigates. The investable conclusion follows the history: own what survives prolonged uncertainty rather than betting on decisive victory. Swiss Francs & Energy cashflows over narratives. Defence order books over campaign slogans. Gold & Silver over promises. Maybe now USDC & Zcash for “get my money the hell out”. Selective duration as shock absorber. Avoid balance sheets that assume permanently cheap freight and permanently calm seas. This is not a weekend trade; it is a reminder that geopolitics compounds, and that in the Middle East invoices are paid in spreads, barrels and credibility never in speeches!
“ dubai and abu dhabi just HK: “ see they closed their stock markets march 2 and 3. Am guessing they don't think this is done by GLOBEX open in 6 hours...”
“ I Moved to Dubai for tax shelter and now I’m in a bomb shelter”….
Andrew Tate, not my thing but you have to admire his blitz spirit: https://x.com/cobratate/status/2027912663452291347?s=48
Dubai/UAE: a thought: Here is what matters. When France gets bombed, the French stay because it is France. When Ukraine gets bombed, Ukrainians stay because it is Ukraine.
When the UAE gets bombed, the ten million people who make up eighty eight percent of its population have a decision to make. And that decision has a very short fuse. A country where nearly nine in ten residents can leave is not a nation in the traditional sense. It is a special economic zone with a flag. The moment the value proposition inverts, the population does not resist. This is not a war of attrition. It might be a “bank run” on a country. Once of course the airport opens!
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45 years of US–Iran hostility did not begin with a tweet, nor will it end with one; it is the slow grind of revolution meeting empire, proxy meeting aircraft carrier, sanction meeting smuggler. From the hostages in 1979 to Beirut ’83, from Khobar to the Iraq insurgency, from JCPOA paperwork to Soleimani’s funeral procession, each administration has tried a different lever, absorb, retaliate, contain, sanction, escalate and none has produced finality because there is no clean “finish” to a structural rivalry. Iran cannot defeat the United States conventionally; the United States cannot remake Iran cheaply; so the contest lives in the grey zone: insurance markets, militias, shipping lanes, enrichment percentages, election cycles. Hormuz, in that sense, is less a battlefield than a mirror, it reflects how entangled the real world is. Twenty million barrels a day is not an abstraction; it is diesel for Indian buses, feedstock for Korean petrochemicals, jet fuel for European holidays, fertiliser for African crops. Three-quarters of humanity lives east of Istanbul and feels the price before Washington does. That is why closing a strait is about Insurers actuarial tables before it is about frigates. The investable conclusion follows the history: own what survives prolonged uncertainty rather than betting on decisive victory. Swiss Francs & Energy cashflows over narratives. Defence order books over campaign slogans. Gold & Silver over promises. Maybe now USDC & Zcash for “get my money the hell out”. Selective duration as shock absorber. Avoid balance sheets that assume permanently cheap freight and permanently calm seas. This is not a weekend trade; it is a reminder that geopolitics compounds, and that in the Middle East invoices are paid in spreads, barrels and credibility never in speeches!
“ dubai and abu dhabi just HK: “ see they closed their stock markets march 2 and 3. Am guessing they don't think this is done by GLOBEX open in 6 hours...”
“ I Moved to Dubai for tax shelter and now I’m in a bomb shelter”….
Andrew Tate, not my thing but you have to admire his blitz spirit: https://x.com/cobratate/status/2027912663452291347?s=48
Dubai/UAE: a thought: Here is what matters. When France gets bombed, the French stay because it is France. When Ukraine gets bombed, Ukrainians stay because it is Ukraine.
When the UAE gets bombed, the ten million people who make up eighty eight percent of its population have a decision to make. And that decision has a very short fuse. A country where nearly nine in ten residents can leave is not a nation in the traditional sense. It is a special economic zone with a flag. The moment the value proposition inverts, the population does not resist. This is not a war of attrition. It might be a “bank run” on a country. Once of course the airport opens!
Subscribe: https://www.nutstuff.co.uk/subscribe
X (formerly Twitter)
Andrew Tate (@Cobratate) on X
DUBAI IS HERE TO STAY
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Nutstuff Comes Alive - March 1, 2026
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First, Honestly what matters most here is if course the safety of many dis-placed people. On markets its the old adage that “Fear is temporary and Greed permanent”.
Nutstuff is in Switzerland as you probably know from my Video yesterday. Yes, the🇨🇭 Swiss franc still feels VERY right, even better Gold in CHF. The Swiss “option” for the top 0.1% will look even better this morning.
I am also now even thinking contrarian about UK Property Prices, (alongside Energy) especially with a Politically Neutral UK regime! ( as was so aptly put:
The real answer to Starmers dithering and hesitation. Not international law. Not principle (we can but hope!). Simply a governing party held hostage to the consequences of a demographic transformation it helped engineer and now dare not upset.
Put bluntly, If looking up in the UK sky only means grey and rain ( and the odd bit of Sun) vs bits of ordinance, and a daily reminder you are in the heart of the Muslim world) then the endless drip drip of people to other sunnier places might stop!
Nutstuff is not going to debate the Whys and Wherefores of Trumps OPERATION EPIC FURY” suffice to say its incredibly high risk as IMHO it makes assumptions about Iran a Country of 100m people that make little sense to me, and many much smarter and more connected than me, and there still seem few thought about the reality of collateral damage in places like Dubai. (Nutstuff has however been one of the few who has repeatedly alluded to it along with reminding of the brutal reality of asymmetrical warfare). Evidence here is that most journalists dont even know what an “ACCR” is!
More below and an attempt to piece a few thoughts together, sorry if duplication, but Nutstuff has been positioned heavily in North Sea and UK Energy assets and Energy Services and Defence. (More below) and as per Fridays Energy/Oil comments, the illusion of excess supply IS an illusion on our Opinion.
On AI & NEW & DIGITAL ASSETS: our Albion AI Energy agent “woke up”, no joke, at 2am on Saturday like a baby wanting feeding and was demanding to add to Energy tokenisation positions. AI Agents never sleep! The Power of this AI in useage and reality is simply staggering!
More on stocks/ positioning in Nutstuff but here is thematic allocation as of this morning….
https://t.me/nutstuff
PLEASE Subscribe to a NUTSTUFF trial here https://www.nutstuff.co.uk/
Also Follow us on @nutstuffalpha
First, Honestly what matters most here is if course the safety of many dis-placed people. On markets its the old adage that “Fear is temporary and Greed permanent”.
Nutstuff is in Switzerland as you probably know from my Video yesterday. Yes, the🇨🇭 Swiss franc still feels VERY right, even better Gold in CHF. The Swiss “option” for the top 0.1% will look even better this morning.
I am also now even thinking contrarian about UK Property Prices, (alongside Energy) especially with a Politically Neutral UK regime! ( as was so aptly put:
The real answer to Starmers dithering and hesitation. Not international law. Not principle (we can but hope!). Simply a governing party held hostage to the consequences of a demographic transformation it helped engineer and now dare not upset.
Put bluntly, If looking up in the UK sky only means grey and rain ( and the odd bit of Sun) vs bits of ordinance, and a daily reminder you are in the heart of the Muslim world) then the endless drip drip of people to other sunnier places might stop!
Nutstuff is not going to debate the Whys and Wherefores of Trumps OPERATION EPIC FURY” suffice to say its incredibly high risk as IMHO it makes assumptions about Iran a Country of 100m people that make little sense to me, and many much smarter and more connected than me, and there still seem few thought about the reality of collateral damage in places like Dubai. (Nutstuff has however been one of the few who has repeatedly alluded to it along with reminding of the brutal reality of asymmetrical warfare). Evidence here is that most journalists dont even know what an “ACCR” is!
More below and an attempt to piece a few thoughts together, sorry if duplication, but Nutstuff has been positioned heavily in North Sea and UK Energy assets and Energy Services and Defence. (More below) and as per Fridays Energy/Oil comments, the illusion of excess supply IS an illusion on our Opinion.
On AI & NEW & DIGITAL ASSETS: our Albion AI Energy agent “woke up”, no joke, at 2am on Saturday like a baby wanting feeding and was demanding to add to Energy tokenisation positions. AI Agents never sleep! The Power of this AI in useage and reality is simply staggering!
More on stocks/ positioning in Nutstuff but here is thematic allocation as of this morning….
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FRONTLINE / FRO US remains a key Nutstuff posn. +70% YTD. I would absolutely add to this here.
With backdrop of everything we are seeing in and @The Straits of Hormuz.
Frontline is what happens when supply constrained capital intensive assets, and geopolitics meets operating leverage.
With Frontline, you’re not buying a tanker company; you’re buying “torque on chaos”. VLCCs printing north of $400k/day is not a spreadsheet event, it’s a system shock. Frontline has deliberately kept itself wired to spot pricing with minimal hedging, maximum sensitivity which means when rates explode, cash flow doesn’t drift higher, it actually detonates. Management’s own slide deck shows ~$12/share FCF at $200k/day and @$16 at $260k. We’ve just seen $400k. The equity market will not capitalise peak hysteria, but if even a fraction of this dislocation sticks with sanctions tightening, compliant fleet scarcity, ageing tonnage, yard bottlenecks then the earnings power is multiples of what consensus models are built for. Tankers are not compounding stories; they are regime-shift trades. The question is “how long does the chaos last?” If it lasts longer than the market thinks, $40 is not the end of the move it’s simply the middle of the rerating. ( a longer term chart is good perspective here!)
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With backdrop of everything we are seeing in and @The Straits of Hormuz.
Frontline is what happens when supply constrained capital intensive assets, and geopolitics meets operating leverage.
With Frontline, you’re not buying a tanker company; you’re buying “torque on chaos”. VLCCs printing north of $400k/day is not a spreadsheet event, it’s a system shock. Frontline has deliberately kept itself wired to spot pricing with minimal hedging, maximum sensitivity which means when rates explode, cash flow doesn’t drift higher, it actually detonates. Management’s own slide deck shows ~$12/share FCF at $200k/day and @$16 at $260k. We’ve just seen $400k. The equity market will not capitalise peak hysteria, but if even a fraction of this dislocation sticks with sanctions tightening, compliant fleet scarcity, ageing tonnage, yard bottlenecks then the earnings power is multiples of what consensus models are built for. Tankers are not compounding stories; they are regime-shift trades. The question is “how long does the chaos last?” If it lasts longer than the market thinks, $40 is not the end of the move it’s simply the middle of the rerating. ( a longer term chart is good perspective here!)
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Nutstuff
404 | Nutstuff
❤1