New Ask Claude or ChatGPT about any stock, using Bullpen. Bullpen in Claude or ChatGPT. 7 days free
Bullpen.News From Edwin Dorsey
Get Daily Recap Feedback

Wednesday, November 11, 2026

Back to the front page

ON THE TAPE with Guy Adami

Guy Adami discusses Nvidia, Anthropic's IPO prospects, energy, gold and the AI trade.

NVDA $4.2T
WHAT ARE WE DOING? “Contrarians At The Gate” 4 clicks

From X

@StableBread

Fajasy on X

McCreedy West had “a few weeks” of development (the tunnels that reach new ore) ahead of its miners and no stopes (the blocks of ore being mined) ready to go when Magna Mining $MGMNF (TSX: $NICU) took it over in March 2025. So Magna spent 2025 catching up and missed its H2 2025 grade guidance, shipping ore at 2.64% copper equivalent (CuEq, which converts every metal into copper at set prices) in Q3 and 3.41% in Q4, below the 2.9-3.4% and 3.8-4.4% it guided. 2026 has gone better. In Q2, McCreedy West set Magna-era records for tonnage (98,446 tons) and cash margin, and production costs fell to US$144/ton processed from US$156 in Q1. Through H1 2026, McCreedy West produced 8.62M payable pounds of CuEq (the metal the mill and smelter pay for after recoveries). It needs 7.4-9.4M lbs in H2 to land in the 16-18M lbs guidance range, so repeating H1 would put the year inside guidance. Costs are inside guidance too. H1 cash costs (operating costs plus smelting and refining charges, per payable pound) of US$3.63/lb sit within the US$3.40-3.80 range. All-in sustaining costs (AISC, which add sustaining capital and corporate overhead) of US$4.39/lb also sit within US$4.20-4.70. Both exclude the precious metals stream held by Franco-Nevada $FNV, which buys half the mine’s gold, platinum, and palladium at a discount. Magna says the stream adds US$0.78-0.92/lb at its 2026 budget prices. Magna’s first reserve estimate for McCreedy West, effective December 31, 2025, came to 987,000 tonnes of probable reserves, which Magna says supports three years of production at its 2026 mining rate. Three years sounds short, but CEO Jason Jessup says it’s “in line with the reserves that McCreedy West has operated with since being restarted in 2003 by FNX Mining,” and that Magna “could have extended” the reserves. McCreedy West’s Intermain nickel zone isn’t in the reserves or the guidance. Jessup wants nickel to hold “north of $8” per pound “for at least a quarter” before restarting it, and says Magna could be shipping Intermain nickel to Vale $VALE “within 8 to 12 weeks” of a decision. At ~$7.48/lb nickel, the Intermain restart waits.

Investor Letters

All letters

Sea Ltd Earnings Update: Q3 2026

Sea Ltd reported Q3 2026 revenue of $8.6 billion, up 43.4% year over year, while net income rose 34.0%.

SE $45B
SixSigmaCapital: Navigating the Financial Markets 5 clicks

Airbnb 3Q26: Business Update

Airbnb’s 3Q26 revenue rose 19% to $4.9 billion as nights and seats grew 16%, with app bookings up 29% and Reserve Now Pay Later adding…

ABNB $108B
Speedwell Memos 2 clicks

Research update

S&P Global research will assess Platts, Kensho and ratings growth; Benefit Systems’ 72% YTD rally changed its valuation, while Netflix and…

SPGI $138BICE $101B
Global Outperformers 3 clicks

Monte Investments Market Brief Vol. CXXXV

Quanta Services’ backlog rose 63% year over year to $64 billion as shares fell 30%, while AI power and data-center construction demand…

PWR $88B
Monte Independent Investment Research 2 clicks

No title

SpaceX’s $24 billion Starbase power plant, Microsoft’s Oracle capacity cuts, Riot’s $72 billion AI lease and Quanta’s sell-off frame…

PWR $88BORCL $399B
Monte Independent Investment Research 3 clicks

Publications we follow

Every publication on this site, hand-picked.

130 publications

Newsletters 110

YouTube 4

Blogs 15

Seeking Alpha 83 of 284

Nominate a publication

X accounts we follow

Every account on this site, hand-picked.

91 accounts
Nominate an account

Investor letters we follow

375 firms

Sectors

Ordered by how often our editor reaches for them.