Micro Math Capital

Three of the most serious forecasters in copper looked at the same market and produced three different holes.

ICSG: 150,000 t deficit
J.P. Morgan: ~330,000 t
UBS: ~520,000 t

Same sign. 3.5x spread. When the pros agree on direction but miss each other by this much, supply has become genuinely hard to model. First structural shortage since 2009, per ICSG. Copper closed today at $6.20, up on the day while gold fell.

What number would you trust, and why?

Metalsource Mining just extended a high grade silver, gold, lead and zinc zone at its Silver Hill project in North Carolina, widely known as America's first silver mine.

Where it stands:

Hole SH26-19 returned 6.28 metres grading 1,156 g/t silver equivalent (AgEq), a single number that combines the value of silver, gold, lead and zinc found in the rock.

A 3.6 metre section inside that hole graded 1,789 g/t AgEq, among the highest grades the company has reported.

The result extends the high grade zone about 33 metres further down, adding confidence that it is one connected system rather than scattered pockets.

What's next: more assay results are pending from holes already drilled, and the company is now drilling further south to keep testing the trend.

Full breakdown: https://micromathcapital.com/

CSE: MSM | OTCQB: MSMMF | Frankfurt: E9Z

Disclosure

Paid promotional content published by Micro Math Capital, a company owned by Apollo Shareholder Relations (compensated), on behalf of Metalsource Mining Inc. Not investment advice. Full disclaimer:

Disclaimer • Apollo Shareholder Relations DISCLAIMER: These terms of use, as amended from time to time (this “Agreement”), set forth the terms of your use of the “Services” (defined below) of Apollo Shareholder Relations (“Apollo Shareholder Relations,” “WE,” “US,” AND/OR “OUR”). THIS IS A BINDING CONTRACT BETWEEN .....

SpaceX completed its first trading day on June 12, 2026. Several facts now apply across both small-cap and large-cap positions and are on the public record.

First-day market data (per CNBC, Investing.com, Robinhood, June 12, 2026):

- IPO price: $135

- Opening trade: $150 (up 11.1%)

- Intraday high: $176.52 (up 30.8% from IPO price)

- Close: $161 (up 19.3% from IPO price), per CNBC

- Day range: $149.34 to $176.52, per Investing.com

- Volume: 519.99 million shares, versus average daily volume of 256.39 million, per Robinhood

- Market cap at intraday high: approximately $2.27 trillion, surpassing TSMC at that point, per TradingKey

Financial position on record (SpaceX S-1 and Q1 2026 filings):

- Q1 2026 consolidated GAAP net loss: $4.28 billion

- Starlink (Connectivity segment) Q1 2026 operating profit: $1.19 billion on approximately 10.3 million subscribers

- Starlink 2025 revenue: $11.387 billion; 2025 operating profit: $4.423 billion; adjusted EBITDA margin: 63%, per TradingKey / SpaceX S-1

- xAI division 2025 operating loss: $6.36 billion, per SpaceX S-1

- Next scheduled earnings report: September 2, 2026, per TradingView

The deferred S&P 500 inclusion event -- estimated at over $50 billion in forced buying from S&P-linked assets -- is conditional on four consecutive quarters of positive GAAP earnings. The seasoning period began June 12, 2026. The earliest eligibility window is mid-2027. This applies to all investors in S&P 500-tracking vehicles regardless of market cap.

Not investment advice. Full disclaimer:

Disclaimer • Apollo Shareholder Relations DISCLAIMER: These terms of use, as amended from time to time (this “Agreement”), set forth the terms of your use of the “Services” (defined below) of Apollo Shareholder Relations (“Apollo Shareholder Relations,” “WE,” “US,” AND/OR “OUR”). THIS IS A BINDING CONTRACT BETWEEN .....