Sponsored by Mercado Minerals

White House Opens UFO Files

The Department of War has launched an initial release of declassified Unidentified Anomalous Phenomena files under a new US government transparency effort, creating a centralized portal for UAP videos, photos, and original source documents while acknowledging that many of the anomalies remain unresolved.

The files are being released through the Presidential Unsealing and Reporting System for UAP Encounters, or PURSUE, an interagency process directed by President Donald Trump. The archive is housed at WAR.GOV/UFO, which the department described as the dedicated webpage for the latest UAP file releases.

The initial release was cleared for public access on May 8, 2026, according to the materials shown on the Department of War page. The release is described as the first tranche, with additional files to be published on a rolling basis as they are identified, reviewed, declassified, and cleared for public release.

You can read more on the matter here.

What’s going on?

• Iran Boosts Rail Trade with China to Counter US Blockade as Freight Costs Surge 40% (theDeepDive)

• Government documents reveal barrage of threats against Mark Carney (TS)

• DeSantis Shifts Stance on Alligator Alcatraz as Florida Awaits $608 Million Federal Reimbursement (theDeepDive)

• Canada Loses 112,000 Jobs Over Four Months, Most Since 2021 (Bloomberg)

• Iran Can Outlast US Blockade for Months, CIA Finds (theDeepDive)

• Trump says Russia and Ukraine agree 3-day ceasefire and prisoner swap (FT)

• Iran and the US Both Claim Victory After Hormuz Engagement (theDeepDive)

• ChatGPT collected ‘vast amounts’ of Canadians’ data without consent, privacy commissioners say (TS)

• Federal Trade Court Strikes Down Trump’s Backup Tariff Plan (theDeepDive)

What’s the latest?

• Tech: Rocket Lab surged 30% to a record high after beating revenue expectations and announcing its largest launch contract ever, helping lift other space stocks as enthusiasm around the space industry and upcoming SpaceX IPO continues to grow. The company reported strong growth in both its launch and space systems businesses, raised its guidance, and revealed a major multi-year rocket deal through 2029, while its backlog more than doubled to $2.2 billion. Investors are also betting on rising demand tied to defense projects like Trump’s Golden Dome initiative and NASA’s Artemis program missions.

• Politics: Canada Post is receiving up to $673 million in new federal funding to keep operating through next March after posting a massive $1.57 billion loss in 2025. The Crown corporation continues to struggle with declining mail volumes, labour disputes, and modernization challenges, with experts warning it may still need hundreds of millions more despite previous government bailouts exceeding $2 billion.

• Markets: U.S. stocks climbed toward record highs after stronger-than-expected jobs data eased fears about the economy despite ongoing tensions with Iran and higher oil prices. The S&P 500 and Nasdaq Composite rose sharply as investors focused on resilient hiring, strong corporate earnings, and continued AI-driven growth, even as fighting in the Strait of Hormuz kept oil prices elevated near $101 per barrel.

• Economy: Canada’s unemployment rate rose to 6.9% in April, the highest in six months, as the economy lost 17,700 jobs — mainly full-time positions — amid ongoing pressure from U.S. tariffs, trade uncertainty, and higher energy costs linked to the Iran war. The weakness was concentrated in goods-producing industries like manufacturing, while wage growth slowed slightly and more Canadians entered the job market looking for work.

• Geopolitics: Upcoming talks between Donald Trump and Xi Jinping are expected to focus heavily on the Iran war and the Strait of Hormuz crisis, potentially overshadowing trade disputes, tariffs, and rare earth supply issues. Business leaders including executives from Boeing and Citigroup are expected to attend, while investors hope the summit could help ease geopolitical tensions that have disrupted oil markets and global trade.

Jerritt Canyon Is BACK!

The stock market and stuff

• Wheaton Precious Metals Posts Record Q1 as Gold Rally Lifts Streamer’s Top Line (theDeepDive)

• Grasberg Mine Rebuild Delayed to 2028, Freeport Confirms 40-50% Output (theDeepDive)

• Jane Street earned $10bn in first quarter as it doubled trading revenue (FT)

• Coinbase Trading Platform Goes Down Three Days After CEO Bragged About AI Writing Production Code (theDeepDive)

• CPP Savings Caught in Trump’s War on Wind—Invest in Oil or Lose $120M (theDeepDive)

In the juniors

• American Eagle Gold Set to Begin 50,000 Metre Drill Program at NAK (theDeepDive)

• Eloro Resources Announces Commencement of Expansion Diamond Drilling Program Based on Positive Updated MRE Results at Its Iska Iska Project, Southern Bolivia (JMN)

• A Western Company Just Locked Up Greenland’s Rarest Deposit—and Its Backers Have Washington Ties (theDeepDive)

FULL DISCLOSURE: Mercado Minerals is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Mercado Minerals. The author has been compensated to cover Mercado Minerals on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.