$38.6 billion plan (2022–2042) currently in highest-growth phase as projects move from "Definition" to "Implementation"
Planned Capital Spend 26-27: $19.0 billion. A significant jump from 25-26, as major equipment deliveries begin
For Current Year:
1) A-OTHR (Arctic Over-the-Horizon Radar): $6.9 billion total program value. JORN + Crossbow. Land-clearing and initial engineering contracts for the Ontario sites (Kawartha Lakes/Clearview) primary focus. P-OTHR to follow.
Jan 14 • 5 tweets • 2 min read
1/ Reviewing Exail's new €200 million bond offering, I'll be fading negative market reaction
Why? They are swapping 12%+ debt for 4% debt, slashing annual interest burden.
But there's more and it's even better ...
$exa $exalf
Market demand was so high, investors paid a massive premium to buy these bonds => effectively negative yield financing for Exail.
They raised €256 million in total cash while only adding €200 million to the nominal debt line. $exa
Oct 7, 2025 • 21 tweets • 6 min read
1/ A thread on Ondas-Umac and how a non-China supply drone consortium
including Trump Jr as a Board Director and Israeli defence companies
may be the key deal for Trump to back Ukraine ending Russia's 3-day Special Military Operation.
2/ A thank you in advance to @VASTCNC for approaching these drone cos from the supply chain side making proper sense of rapid developments, which also have interesting geopolitical implications
Mar 18, 2024 • 5 tweets • 2 min read
Something weird is happening in oil markets
1) Excess Russian crude (due to Ukr refin attacks) is Not flowing. It's building up in floating storage same time Aframax supply tightens.🤔
2) Sanctions escalation sees Turkey & India turn away.
3) Yet, Urals $ outstrips WTI YTD.
Something inevitably is going to give here.
Kremlin established their 2024 budget using $70/barrel haha. So they need that, and provides motive for Not lowering price.
But if they don't start moving Urals soon they will confront shut-ins and that's death.
