teaching investors how to invest in copper equities
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James Connor appears to be a finance/interview host and market commentator associated with Bloor Street Capital and the Jimmy Connor channel. In the supplied material, he is primarily the interviewer and organizer of commodity- and mining-focused conversations, especially around critical minerals, rare earths, and resource equities. The resolved X link points to @JamesConnor1999, but no further identity confirmation is available here.
Connor’s recurring worldview is strongly resource- and supply-chain-focused: he treats critical minerals, rare earths, copper, palladium, and related metals as strategically important assets that sit at the intersection of national security, industrial policy, and investment opportunity. Across the transcripts, he emphasizes China’s dominance in mining, refining, and magnet production, the implications of export restrictions, and the idea that supply scarcity can create pricing power and investor upside. He also tends to frame mining as a way to rebuild Western supply chains and support defense, EVs, robotics, energy transition, and broader industrial capacity. Overall, his worldview is pro-resource development, strategically minded, and attentive to geopolitical concentration risk.
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Preview:Steve Schoffstall of Sprott explains rare earth elements — 17 chemically similar critical materials crucial for defense, EVs, wind turbines, and consumer electronics. He highlights China's dominance (~69% of mining, ~90%+ of refining/magnet production) and recent export controls that have spiked prices (e.g., dysprosium from $100 to $900/kg). The centerpiece is Sprott's new Rare Earth Ex-China ETF (ticker REXC), a pure-play fund holding 34 companies with ~96% rare earth exposure, heavily weighted toward Australia, the US, and Canada.
Preview:Interview with Sam Riggall, CEO of Sunrise Energy Metals, discussing the company's plan to build the world's first primary scandium mine in New South Wales, Australia. Scandium is a critical rare earth metal essential for defense alloys, 5G/6G semiconductors, and solid oxide fuel cells, with China controlling ~85-90% of global supply. The project has a $120M capex, targets first production by mid-2028, and has seen its stock surge from $1 to $15 AUD over the past year driven by China export restrictions and growing recognition of scandium's strategic importance.
Preview:Meredith Schwartz of CSIS's Critical Mineral Security Program explains the strategic importance of critical minerals and rare earth elements, China's overwhelming dominance (~98% heavy rare earth refining, 91% total refining, 94% permanent magnet production), and the US government's all-of-government response under the Trump administration. She covers China's weaponization of export restrictions, the Trump-Xi moratorium (expiring November 2026), the G7's 60% import cap pledge by 2030, and whether the US and allies can realistically catch up — using Japan's 15-year struggle as a cautionary benchmark.
Preview:This is a CEO interview about Rainbow Rare Earths, a London-listed rare earth processing company with two phosphate-waste projects in South Africa and Brazil. George Bennett’s core message is that Rainbow can produce separated rare earths from above-ground waste streams with unusually fast timelines, low capital intensity, and strong project economics, while also benefiting from rising demand for permanent magnets and growing geopolitical interest in non-China supply.
Preview:This is a virtual conference on rare earths and critical minerals, built around the case that China’s control of mining, refining, and magnet production has turned rare earths into a national-security bottleneck and an investable supply-chain theme. The video features three substantive interviews: Steve Schauall on rare-earth ETFs and supply-chain exposure, Rainbow Rare Earths’ George Bennett on two near-term processing projects in South Africa and Brazil, Meredith Schwarz on the policy/geopolitical backdrop, and Constantine Karanopoulos on the sector’s structure, China’s dominance, and why this cycle may last longer than prior ones.
Preview:Generation Mining CEO Jamie Levy presents the Marathon copper-palladium project in Ontario as a fully permitted, nearly fully financed mine ready to break ground. The project boasts strong economics (28% IRR, 1.9-year payback on trailing averages), ~$1B in committed financing from Wheaton, senior lenders, and the Canada Infrastructure Bank, and a 13-year mine life. Levy argues the company is undervalued relative to peers like Foran and expects a re-rating once the final investment decision triggers construction, targeted for September 2026.
Preview:This is an interview with Vincent Metcalfe about Piccoy Copper’s copper-gold projects in southern Peru. The core pitch is that Piccoy is already meaningful in size, has exploration upside from previously fragmented ownership, and is unusually drill-/build-friendly because of low elevation, existing infrastructure, and nearby mining culture. He also highlights Torum as a blue-sky satellite/discovery target and emphasizes that the company is fully funded into at least mid-2027.
Preview:Sean Whiteford said NexMetals is advancing two Botswana copper-nickel assets, with Selebi as the main near-term production path and Selkirk as a second optionality asset. The core message was de-risking: expand resources, prove metallurgy for separate copper and nickel concentrates, then publish an updated MRE and PEA in Q3/Q4 to support a move toward PFS and eventual restart.
Preview:Meredith Whitney argues the U.S. economy still looks strong on the surface because spending by higher-income consumers and fiscal support are holding it up, even though roughly 45%+ of households are under acute pressure. Her core concern is not an immediate recession but the fragility beneath the surface: persistent inflation, heavy reliance on a wealth effect, and a consumer base increasingly using shadow-banking tools like pawn loans, daily-wage access, and home-equity withdrawals.
Preview:This is an interview about Lumina Metals’ flagship Polish copper-silver project, Novasul. CEO Jordan Pandoff argues the asset is unusually large, high grade, and strategically located near infrastructure and an existing KGHM smelter, while the main near-term focus is advancing permitting, a prefeasibility study, and lobbying for a better Polish copper tax regime.
Preview:Barry O’Shea says Highland Copper is a fully permitted U.S. copper developer with its Copperwood project in Michigan, and that the current setup is unusually favorable because U.S. policy is pushing domestic critical-mineral production. He argues the project is advanced, relatively modest in capex, and increasingly financeable thanks to federal interest, grants, and a stronger balance sheet, with first production targeted for the second half of 2029 in the best case.
Preview:This is an interview about Faraday Copper’s Arizona copper district strategy. Paul Harbidge says Faraday’s core thesis is to consolidate Copper Creek and the newly announced San Manuel asset into one district-scale project, using existing infrastructure, private land, and strategic backing from Lundin and BHP to accelerate permitting, drilling, and a combined resource update.
Preview:This is an interview with Evolve Royalties’ Joseph de la Plante about building a copper-focused royalty company. The core message is that Evolve wants to use cash-flowing royalties on long-life copper and other critical-mineral assets to compound growth through both organic asset performance and new acquisitions.
Preview:This is an interview with ATEX Resources interim CEO Chris Beer about the company’s ValeriAano copper-gold discovery in Chile. Beer argues ATEX has turned into a major emerging district story: a large, open-ended porphyry plus a higher-grade breccia zone, supported by strong drill results, clean metallurgy, a large cash balance, and several untested targets nearby.
Preview:Aurora Davidson argues Amerigo is a low-risk copper investment because it does not mine ore; it reprocesses tailings from Codelco’s El Teniente mine under long-term agreements, giving it durable feed, stable production, and a highly visible cash-return model. The core appeal is predictable free cash flow from a mature asset, with excess cash returned via dividends, buybacks, and special dividends rather than reinvested into growth.
Preview:Ross Beaty frames his latest company, Lumina Metals, as a long-built copper-and-silver story in Poland that he finally took public because copper, silver, critical minerals, and the Poland jurisdiction were all lining up. The interview then broadens into a bullish but nuanced case for copper: electrification, AI data centers, EVs, and renewable power are all copper-intensive, while supply is getting harder and more expensive because easy surface deposits are gone and new mines take 15–25 years to develop.
Preview:Rick Rule argues that the market is being driven more by passive flows and momentum than by fundamental valuation, which makes him cautious on broad indices and megacap tech. He is constructive on resources he believes are structurally underinvested—especially oil, uranium, gold, and copper—while warning that near-term price action can be volatile and often inverted from what momentum traders expect.
Preview:This is a copper-focused conference video anchored by host James Connor and several mining executives. The core message is that copper demand is being structurally boosted by electrification, EVs, AI data centers, and grid buildout while supply is constrained by declining grades, long mine lead times, and geopolitical/operational risk. The speakers use that backdrop to pitch physical copper vehicles, copper miners ETFs, and specific companies with permitting, resource, or financing catalysts.
Preview:Chris Vermeulen argues the broad market remains in a strong, momentum-driven uptrend, led almost entirely by mega-cap technology and AI-related chip stocks. He thinks the near-term risk is not trend failure but euphoric positioning: IPOs, AI hype, and crowded ownership could still push the Nasdaq and chip names higher before a sharp unwind.
Preview:Michael Gentile argues that gold and silver remain in a secular bull market because rising debt, persistent deficits, and the need for negative real rates will keep fiat currencies under pressure. He is constructive on gold miners in particular because he thinks the market is still not fully pricing the longer-term devaluation story, while copper is also attractive structurally but already more widely recognized by generalist capital.
Preview:Michael Oliver argues that the long end of the bond market is already breaking down into a government-debt crisis, with the Fed unable to fully control it. He links that stress to higher long-term yields, financial-sector strain, and a possible parabolic move in gold and metals.
Preview:Michael Oliver argues that the stock market is late-cycle and becoming fragile under the surface, with semiconductors and AI masking weakness elsewhere. He is much more constructive on commodities and monetary metals, especially silver, which he thinks is on the verge of a parabolic move, while gold, copper, and oil are in broader bullish trends tied to monetary expansion and a developing government bond crisis. He remains bearish on Bitcoin and skeptical that the recent rally is durable.
Preview:Rory Johnston argues the oil market is still underpricing a major supply shock from the Middle East, even though prices have not yet reacted as strongly as he expected. He says the lag is being caused by Trump-driven jawboning, slow physical inventory drawdowns, and confusing China data, but his base case remains materially higher oil if the Strait of Hormuz remains closed and shut-in supply does not return quickly.
Preview:Claudia Sahm is broadly bullish on the U.S. economy, but with clear caveats: she sees resilience in consumers, labor markets, and AI-led investment, while warning that supply shocks, energy prices, tariffs, and political pressure on institutions could wear the economy down over time.
Preview:Philippe Hynes, president and CIO of Tonus Capital, argues that small-cap value is currently more attractive than crowded large-cap, AI, mining, and much of software. Tonus is concentrated, valuation-sensitive, and oriented toward quality businesses with durable cash flows; he says that approach has helped them preserve capital in bad markets and compound over time.
Preview:Brian Belski argues that the market is shifting from a momentum/multiple-driven tape to an earnings-driven bull market, and he remains constructive on the S&P 500, the U.S. economy, and selective equity sectors. He is more skeptical of private credit/private equity, bullish on financials, and focused on quality, cash-rich, and contrarian names rather than trying to own everything.
Preview:This is an interview with JC Sandoval of Andean Precious Metals about the company’s two operating assets: Golden Queen in California and the Sambaloma processing plant in Bolivia. The core message is that both assets are generating cash, the balance sheet is strong, and the near-term catalyst is an updated technical report that could extend Golden Queen’s mine life; beyond that, management is looking for a third acquisition.
Preview:This is an interview about Premier American Uranium’s growth plan, centered on its New Mexico asset Sebata and two Wyoming ISR projects, KC and Cyclone. Colin Healey frames 2026 as a news-flow year: metallurgical test work at Sebata could materially improve project economics, while KC is set up for a large drill program aimed at extending known mineralization and building scale.
Preview:This is an interview about NexGen Energy’s Arrow uranium project now that final federal approval has been secured. Leigh Curyer says the company is moving into construction, is fully permitted for early works, and is targeting first production in 2030 after a 48-month build. He argues the project has unusually strong economics, large leverage to uranium prices, and additional upside from nearby exploration at Patterson Corridor East.
Preview:Paladin Energy COO Paul Hemburrow provides a comprehensive update on the company's uranium operations. The Langer Heinrich mine in Namibia is in the final stages of its ramp-up toward full production (~4.0–4.4M lbs U₃O₈ annually), with costs trending at the lower end of $44–48/lb guidance and recoveries hitting 91%. The company holds ~23M lbs contracted through 2030 with a mix of base-escalated and market-related pricing. The Patterson Lake South (PLS) project in Saskatchewan's Athabasca Basin is advancing through permitting, with the provincial EIS approved and CNSC licensing underway. Paladin has ~$278M cash plus a $70M undrawn facility, a diversified global shareholder base, and no near-term plans for a US listing.
Preview:Jason Shapiro argues the current market setup is being driven less by clean fundamentals than by positioning, liquidity, and narrative whipsaws. He is neutral on the S&P, bonds, oil, and copper because his commitment-of-traders process does not show an edge there, but he is warming to the metals complex—especially silver—because positioning looks washed out and the market is starting to reverse. He is skeptical of simple macro forecasts about war, oil, or QE, preferring to wait for market confirmation before acting.
Preview:John Ciampaglia of Sprott discusses uranium's Q1 2026 performance — spot ran from $81 to briefly touch $100 before settling mid-$80s on Iran war fears. He argues the pullback is noise against a structural supply deficit, with term price at $90 (highest since 2008), Indian state-owned entities signing multi-billion-dollar long-term supply deals, and European leaders finally admitting closing nuclear plants was a "strategic blunder." The core thesis: no meaningful greenfield supply for 3-6 years, 100% inelastic utility demand, and producers gaining unprecedented negotiating leverage. He sees the Iran disruption as another catalyst that will further galvanize the nuclear shift, analogous to the 1970s OPEC-driven buildout.
Preview:Kazatomprom CEO Dastan Kosherbayev discusses 2026 production guidance (27.5–29K tons), sulfuric acid supply improvements (new plant expected Q1 2027), rising production costs driven by inflation and tax changes, and a sharp divergence between Eastern and Western uranium fuel buyers. He signals 2026 as a potential turning point for long-term contracting, highlights a major new deal with India, and reiterates the company's "value over volume" strategy — keeping pounds in the ground as structural deficits approach.
Preview:IsoEnergy’s guest pitches the company as a diversified uranium platform with multiple near- and longer-dated catalysts: restarting Tony M in Utah, expanding Hurricane in the Athabasca Basin, advancing Toro/Winulu in Western Australia, and pushing Coles Hill in Virginia through permitting and technical work. The core message is that the company is funded, well-backed, and positioned to benefit from a structural uranium supply deficit, with the market likely still underpricing several assets.
Preview:This is a Denison Mines corporate update interview focused on Phoenix, its transition from developer to producer, and how the company plans to finance and commercialize growth. David Cates walks through construction timing, capex, production expectations, Griffin sequencing, and the balance sheet; Geoff Smith explains uranium contracting, upfront funding, inventory, and Denison’s sales strategy.
Preview:This is a virtual uranium conference dominated by one core message: uranium fundamentals are very strong, but prices and equities are still being held back by sentiment, timing, and market structure. Across the interviews, speakers repeatedly argued that demand is rising, supply is disciplined, contracting is lagging replacement rates, and geopolitical shocks are reinforcing nuclear’s appeal as an energy-security asset.
Preview:Mark Newton, speaking as Fundstrat’s technical strategist, argues the market is in a choppy corrective phase with broadening weakness beyond tech. He is near-term bearish on the S&P, semis, gold, silver, Bitcoin, and likely yields/dollar near-term, while still seeing longer-term appeal in several of those assets after further consolidation.
Preview:This interview is a bullish uranium market update centered on supply-demand tightness, rising nuclear buildout, and near-term volatility. Justin Huhn argues the sector remains in a longer-term bull market despite a recent pullback in uranium equities, with spot uranium consolidating after an early-2026 surge and the term market grinding higher toward $90/lb.
Preview:Rory Johnston argues the closure/disruption of the Strait of Hormuz is an unprecedented oil supply shock that could drive Brent materially higher, potentially toward the inflation-adjusted 2008 high if the disruption lasts weeks. He says the immediate effect is already severe in diesel, jet fuel, tanker traffic, and global supply chains, and he sees strategic reserves as helpful but far too small to offset the loss.
Preview:Josh Young argues the oil market has shifted into a geopolitical supply shock, with the Strait of Hormuz risk, damaged regional energy infrastructure, and weak sanctions enforcement pushing prices materially higher despite near-term volatility. He thinks the market has been underestimating how tight inventories were before the conflict, and he sees oil equities—especially smaller producers and services names—as still cheap relative to the repricing in crude.
Preview:Frank Ieraci, Global Head of Active Equities at CPP Investments, explains how the $780B Canadian pension fund manages multigenerational retirement assets for 22 million Canadians. The fund uses a risk-targeted asset allocation (~45% public equities, 25% private equity, 15% fixed income/credit, remainder in real assets/infrastructure) and a bottom-up, 3-5 year fundamental research approach to generate alpha. Approximately 12% (~$115B) is allocated to Canada. Ieraci discusses why CPP currently holds no physical gold or gold miners (rich valuations post-rally), sees pockets of value in energy, and has invested across AI including Nvidia (held 2018-2025) and Waymo. He pushes back on comparisons to Norway's sovereign wealth fund as "not apples to apples" due to different asset allocation objectives. On the tech bubble analogy, he argues each situation has unique features requiring company-specific analysis rather than broad-brush comparisons.
Preview:This is an interview about Skeena Gold + Silver’s Eskay Creek project in British Columbia. Walter Coles argues the project works now because three things changed versus Barrick’s era: the permitting environment improved, power is now cheap hydro instead of diesel/propane, and gold/silver prices are far higher. He frames Eskay Creek as a very high-grade, low-cost open-pit gold-silver mine with strong near-term catalysts around final permits, refinancing, and a stream buyback.
Preview:This interview is a merger-focused thesis on combining Dolly Varden Silver with Contango ORE to create a larger, better-capitalized precious-metals vehicle. The speaker argues the deal makes sense because Dolly Varden has built a large, high-grade silver-gold district in BC’s Golden Triangle, while Contango brings cash flow, permitting/development expertise, and a direct-shipping-ore model in Alaska. He frames the combined company as an uncommon peer in the mid-tier space with both growth and current production.
Preview:Interview with Aya Gold and Silver CEO Benoit La Salle. He details a pivotal 2025 with record production of 5M AgEq ounces, driven by the Zgounder (Gunder) mine in Morocco now running ~30% above nameplate capacity at 3,700 tpd. 2026 guidance is 5.2–5.8M oz from Zgounder plus ~1M oz from the Boumadine stockpile, for 6.8–7M oz total at all-in costs of $11–23/oz. At $75 silver, that implies ~$350M operating cash flow, self-funding Boumadine's development. La Salle expresses strong conviction on silver supply tightening and notes a disciplined, unhedged sales strategy. Catalysts: 180,000m drill program at Boumadine, resource update in June, Q4/year-end financials in March, and a planned NASDAQ listing in Q2 2026.
Preview:John Miniotis, CEO of AbraSilver, outlines the company's progress at the Diablillos silver-gold project in Argentina. Key catalysts include imminent RIGI approval (fiscal incentive regime), environmental permits, and a definitive feasibility study in Q2 2026. The resource has grown to ~350M oz AgEq, with a construction decision targeted by end-2026 and first production in 2029. PFS economics at $25 Ag / $2,000 Au were already robust; at current spot (~$40 Ag / $3,300 Au), returns become "staggering." Balance sheet holds ~$60M CAD; CAPEX remains ~$540M with project financing being evaluated. The interview is a straightforward promotional update with modest hype.
Preview:Interview with Randy Smallwood, CEO of Wheaton Precious Metals, focused on the company’s streaming model, its history, risk controls, and the outlook for silver and gold. Smallwood argues that streaming is a structurally superior financing tool for miners because it fixes costs, reduces risk, and can create outsized long-term value when executed with strong protections like parent guarantees and security.
Preview:This is a long virtual silver conference built around the recent silver blow-off and pullback. The speakers are broadly constructive on silver, gold, and select silver miners, but they repeatedly stress that the move has been extremely volatile and that investors should think in terms of long-term accumulation, not chasing momentum.
Preview:Michael Oliver argues the recent selloff in silver is a buying opportunity, not a top, and he stays aggressively bullish on silver over gold, miners over gold, and oil over the next few months. He is bearish on Bitcoin and Ethereum, sees uranium as still in a bull trend but less compelling than oil, and thinks broad commodity-related stocks remain attractively positioned because many commodities are still cheap versus money supply, gold, and equities.
Preview:This is an interview-style update on Osisko Development, with Sean Roosen arguing that Caribou is a rare, fully permitted, fully financed, underground gold development with meaningful scale upside. He emphasizes the current mine build, strong cash position, large resource base, and multiple drilling programs that could expand the project well beyond the initial 220,000 oz/year phase.
Preview:This is an interview-style company update on OceanaGold with CEO Gerard Bond. The core message is that OceanaGold is producing strong cash flow from four mines while using exploration, stripping campaigns, and project development to extend mine life and grow output. Bond also stresses a strong balance sheet, shareholder returns, and several near-term catalysts including technical reports and the planned NYSE listing.
Preview:Andrea Freeborough of Kinross Gold joins Jimmy Connor to detail three newly approved US construction projects (Phase X at Round Mountain, Kuru at Kettle River, Redbird 2 at Bald Mountain) that extend mine life into the 2030s and add ~400k oz/yr peak production starting 2028. She reviews the 2M oz production profile, capital allocation priorities (growth capex, balance-sheet strength, return of capital), a $1B net cash position expected at year-end 2025, and the pipeline including Great Bear and Lobo Marte. The conversation is a management update, not a macro call — bullish in tone but measured and numbers-driven.
Preview:Jason Kosec says Hemlo Mining acquired Barrick’s Hemlo gold mine at what he views as an attractive long-term metal price, with a large cash balance and a multi-year plan to expand production, convert resources, and improve mill/mine throughput. The core pitch is that Hemlo is an underinvested, high-quality Canadian gold asset with significant operating leverage, exploration upside, and multiple near-term catalysts.
Preview:Howard Klein argues lithium is still early in a new cyclical upswing after a brutal reset from the 2022 peak, and that equities and select projects may still have room despite the sharp rebound. His core case is that demand has outpaced expectations, supply discipline is finally emerging, and batteries—especially stationary storage for grids and AI data centers—are becoming a bigger structural driver than EVs alone.
Preview:This is an upbeat company update on Centerra Gold’s operating mines, development pipeline, balance sheet, and capital allocation. Management argues the company is transitioning into a larger, North America-focused copper-gold producer with multiple growth catalysts, while still generating cash today from Mount Milligan and Öksüt and funding growth without equity dilution.
Preview:Agnico Eagle CFO Jamie Porter sits down with Jimmy Connor to review a record 2025. He attributes success to operational consistency, margin expansion from flat costs against rising gold, and returning ~$1.4B (30% of FCF) via dividends and buybacks. The core growth narrative centers on five organic projects that could lift production ~30% over 5-10 years without M&A: Detour expansion to ~1M oz via underground high-grade ore, Canadian Malartic's "fill the mill" transition to underground, Upper Beaver, Hope Bay (construction decision due May 2026), and San Nicolas in Mexico. The balance sheet ends 2025 with >$2.6B net cash after repaying ~$1B in debt. Porter emphasizes a patient, selective M&A approach and the per-share production growth metric as the true measure of value creation.
Preview:A long virtual gold conference featuring multiple miners, a technical analyst, and the World Gold Council. The core message is broadly bullish on gold and related hard assets, with repeated emphasis on central-bank accumulation, fiscal/monetary debasement, weaker fiat currencies, and strong project-level growth at several producers.
Preview:Willem Middelkoop argues that the move into precious metals and other hard assets is still early and likely multi-year, driven by money debasement, sticky inflation, rising sovereign debt, and a shifting flow of capital away from U.S. financial assets. He is especially constructive on gold, silver, uranium, copper, lithium, and select miners/developers, while also framing Bitcoin as a complementary “virtual gold” reserve asset.
Preview:Michael Oliver argues that the key market risk is not the stock market but the bond market: if long-dated government bonds break lower again, central banks will be forced into emergency intervention, which could ignite a much sharper move in gold and especially silver. He is bullish on precious metals, bearish on the dollar, cautious on stocks, and constructive on commodity-related equities and select energy assets, while warning that a temporary correction could still happen if policy intervention or a court ruling cools the panic.
Preview:Anthony Scilipoti argues the AI boom has echoes of the early-2000s telecom bubble: not because of classic accounting fraud, but because of circular financing, related-party economics, and liquidity dependence. He says Nvidia, Microsoft, and other hyperscalers are effectively funding customers who then buy their products, which can keep revenue and valuations elevated until investor patience or external financing dries up. The interview also covers Canada: weakening employment, mortgage renewals, pressure on telecoms and condos, and a split between asset-rich households and paycheck-to-paycheck consumers.
Preview:Gerald Celente argues that China will lead the AI race, the U.S. dollar is entering a long decline, and geopolitical conflict is already edging into a wider war. He ties those themes to Gen Z unrest, a coming office/banking bust, and rising gold/silver prices.
Preview:Marc Faber argues that 2025’s big story was stronger-than-expected precious metals and a broad asset boom that masked deteriorating real purchasing power. He is bullish on gold, silver, and other hard assets as protection against underreported inflation, money printing, and eventual asset-price weakness, while saying stocks and government debt remain vulnerable in real terms.
Preview:Randy Smallwood argues Wheaton Precious Metals is entering a stronger growth phase as precious metals prices hit record highs, with the company benefiting from its streaming model, a strong balance sheet, and multiple asset expansions. He says Wheaton could exceed 1 million gold-equivalent ounces by 2029, with gold, silver, and copper exposure all contributing, while remaining focused on low-risk, high-margin financing.
Preview:Steve Schoffstall of Sprott walks through three 2025 ETF launches centered on precious metals and critical materials: a pure-play silver miners + physical silver fund, an active gold/silver miners fund, and an active broad metals/critical materials fund. The conversation emphasizes Sprott’s research depth, the appeal of pure-play exposure, and the growing role of industrial demand, supply deficits, and geopolitics in silver, lithium, rare earths, uranium, and copper.
Preview:An interview with Versemet Royalty CEO Dan O'Flaherty focused on the company's origin, shareholder base, portfolio growth, acquisition strategy, and capital markets milestones. He frames Versemet as a precious-metals royalty and streaming company in the middle of the market cap range, with cash flow, diversification, and multiple expansion catalysts as it scales from 10,000 GEOs in 2025 toward 20,000 GEOs in 2026.
Preview:Jonathan Wellum argues that 2025 confirmed two big themes: precious metals were far stronger than expected, and AI-linked equities became expensive very quickly. He stays constructive on the U.S. versus Canada, expects Trump-era policies and a likely dovish Fed to support growth, and remains heavily positioned in gold, silver, royalties, and select infrastructure/commodity names rather than the headline AI winners.
Preview:This is an interview-style update on Triple Flag Precious Metals with CEO Sheldon Vanderkooy. He argues the company’s royalty/streaming portfolio is compounding well, with several large assets—especially North Parks, Beta Hunt, Hope Bay, Arthur, and Kone—driving visible catalysts into 2026, while disciplined M&A and buybacks/dividends remain central to capital allocation.
Preview:Ed Coyne argues that gold, silver, and especially mining stocks are still early in a longer re-rating, as more investors wake up to inflation, money-supply growth, and portfolio diversification needs. He also extends the thesis into uranium and copper as part of a broader “critical materials” opportunity tied to energy transition, AI/data centers, and grid buildout.
Preview:Steve Hanke argues the Venezuela operation was a highly planned, internally enabled military coup, but says the real issue is what happens next: regime-building, not the arrest itself. He is far more focused on U.S. domestic inflation, arguing monetary easing, balance-sheet expansion, and deregulation will keep inflation elevated and make affordability a political problem into the 2026 midterms.
Preview:John Ciampaglia of Sprott discusses uranium's frustrating 2025 — spot prices flat/slightly down despite massive policy tailwinds — and why 2026 looks like the year the dam breaks. He argues utilities have deferred ~50% of normal contracting due to policy uncertainty (tariffs, Russia sanctions, administration change), creating pent-up demand. Key catalysts: $80B US reactor buildout announcement, Section 232 review, uranium added to critical minerals list, potential strategic uranium reserve, and mine permitting breakthroughs. Equities have already run (Cameco up ~70%) while physical has lagged — he frames equities as the leading indicator.
Preview:An interview focused on gold and silver’s huge 2025 run and whether 2026 can extend it. John Ciampaglia argues the move is being driven by central-bank buying, de-dollarization, persistent fiscal/money expansion, weaker real returns on bonds, and broad investor underexposure — and that the setup is still early rather than crowded.
Preview:Michael Oliver argues that silver’s move is not a normal overbought rally but an acceleration into a new price regime, with gold, commodities, and other monetary metals also breaking out versus stocks. He thinks the broader setup reflects money printing, weak real assets, and stress in Treasuries and the dollar, while Bitcoin and AI-led equities may be topping rather than leading.
Preview:Jim Rogers says he has sold almost all of his U.S. stocks, is holding mostly cash, and is still bullish on gold and silver while warning that today’s market optimism feels like past speculative peaks. His core concern is that debt, tariffs, and easy money have distorted the global system, and that higher rates, weaker currencies, and eventual market reversals are likely consequences.
Preview:This is a bullish interview with Gold Royalty CEO David Garofalo. He says 2025 was a turning point: the company became free-cash-flow positive, paid off all debt, and added a new royalty on Pedra Branca in Brazil, which he says should be immediately accretive. He argues Gold Royalty’s model is now shifting from development to harvest, with long-life assets in top jurisdictions driving rising production, cash flow, and possibly a dividend in 2026.
Preview:This is a bullish company-update interview on Elemental Royalty. David Cole argues the EMX–Elemental merger, Tether’s investment, and the NASDAQ listing have created a larger, better-capitalized royalty platform with more scale, more liquidity, and more valuation upside.
Preview:Jonathan Wellum argues that Canada’s Liberal government has damaged growth, capital formation, and the Canadian dollar, and says the recent election was driven less by policy approval than by NDP collapse and Donald Trump-related backlash. He is also cautious on the US economy: growth is still positive but slowing, trade uncertainty is hitting freight, travel, housing, and guidance, and investors should keep liquidity, short-duration bonds, and precious metals exposure.
Preview:Louis-Vincent Gave argues that the biggest macro shift in China was its pivot away from real-estate-led growth and toward industrial self-sufficiency after the 2018 semiconductor restrictions. He says that shift helped China leapfrog the West across autos, batteries, robots, solar, nuclear, and other industries, and that China is now trying to re-balance toward consumption with falling rates and targeted stimulus. Across the interview, he contrasts China’s policy continuity and industrial planning with what he sees as Western inconsistency, then uses that lens to argue China remains cheap, U.S. markets are expensive and concentrated, and energy is the key cross-asset hedge against a renewed inflation wave.
Preview:David Rosenberg argues the market is pricing in a “dead” business cycle, but the real economy is highly uneven: AI and the top 10% are carrying growth while much of the labor market, housing, and lower/middle-income consumer demand remain weak. He thinks recession risk is being ignored, Fed cuts are not yet meaningfully easing the parts of the curve that matter, and the setup favors bonds, select defensives, and non-U.S. opportunities over broad U.S. index exposure.
Preview:Rick Rule argues the precious-metals bull market is still early, with gold leading, silver now catching up, and royalty/streaming names offering the best risk-adjusted exposure. His core macro view is that persistent currency debasement, negative real rates, and policy easing in a still-decent economy should keep driving flows out of long bonds and into gold-related assets.
Preview:This virtual conference is a multi-guest bull case for precious metals and royalty/streaming companies. Across the panel, the speakers argue that gold and silver are being supported by dollar debasement, persistent inflation, central-bank buying, new institutional buyers like Tether, and the structural leverage of royalty/streaming models. The near-term emphasis is on record metal prices, strong conference turnout, and a likely wave of earnings beats and re-ratings; the longer-dated emphasis is on long-life assets, discovery optionality, and growing free cash flow as higher metal prices flow through fixed-cost royalty portfolios.
Preview:Henrik Zeberg argues the U.S. economy is already rolling over and that recession will begin by Q1 2026, with housing, labor-market weakness, and lagging job revisions signaling a downturn that the market is still ignoring. He stays bullish near-term on risk assets, calling for a final blowoff in the S&P, Bitcoin, and even Strategy before a larger crash, while treating gold as a long-run monetary hedge but expecting a pullback first.
Preview:Josh Young argues oil is mispriced because futures positioning is extremely bearish despite strong underlying demand, especially from U.S. consumption and a coming mining-sector load. He thinks OPEC’s new push to measure capacity reflects a realization that most spare capacity is already back online, that geopolitical disruptions are being managed rather than allowed to shock prices, and that the real setup is a squeeze from poor positioning plus underappreciated demand growth. He is broadly bullish on oil, especially on cheap Canadian small-cap producers and select small oilfield service names, while being more cautious on large services companies that are chasing data-center and power themes.
Preview:Chris Vermeulen argues the recent Nvidia-led pop was a FOMO-driven bounce inside a broader downtrend, not a durable bottom. He sees further downside risk in the S&P, Nasdaq, Nvidia, Microsoft, Bitcoin, and oil, while remaining constructive on gold, silver, platinum, and potentially the U.S. dollar over a longer horizon.
Preview:Chris Vermeulen argues the market is at a fragile, late-cycle inflection point: broad U.S. equities, especially AI-led megacaps, look increasingly unhealthy and could be close to a 5-15% pullback or even a larger 20%+ correction. He expects weakness in the Nasdaq/S&P to rotate money into gold and silver, while remaining skeptical of Bitcoin, leveraged crypto proxies, bonds, and crowded retail-friendly trades.
Preview:Steve Hanke argues that modern central banking has abandoned the quantity theory of money, which in his view explains inflation, asset booms, and rising inequality better than neoclassical models. In this interview with Jimmy Connor, he uses the post-COVID money-supply surge to support the claim that inflation was predictable and says the Fed is not truly independent in practice.
Preview:Steve Schoffstall of Sprott ETFs joins Jimmy Connor to explain the critical minerals and rare earths investment landscape. The discussion covers China's dominance in rare earth refining, US government equity stakes in miners (MP Materials, Lithium Americas, Trilogy Metals), J.P. Morgan's $1.5T security initiative, uranium supply deficits, copper market disruptions (Grasberg mine), and the lithium oversupply crash. Schoffstall details Sprott's ETF lineup: SETM (broad critical materials), MEL (active metals & miners), COP/COPJ (copper miners), and LITP (lithium miners). The core thesis: structural supply-demand imbalances across critical minerals, driven by electrification, defense needs, and geopolitical supply chain reshoring.
Preview:Daniel Lacalle argues the U.S. economy is strong relative to peers, inflation is being driven more by money creation and regulation than by tariffs, and the Fed should cut rates because its earlier mistakes and ongoing fiscal excess are still hurting households and small businesses. He is bullish on U.S. equities, gold, and eventually energy commodities, while warning that rising inflation or an oil spike would be the main market risk. He is also strongly supportive of Milei in Argentina and sharply critical of Canada, Venezuela, and Colombia as examples of policy failure and institutional decay.
Preview:The interview argues that Bitcoin’s sharp drawdowns are mostly a function of market maturity, leverage, and macro correlations rather than a broken thesis, and that the recent selloff is more likely a buying opportunity than a cycle top. It also makes a broad case that tokenization and stablecoins are practical financial rails already reshaping markets, while tokenized gold is presented as a more usable wrapper around gold exposure than physical bullion or ETFs in some use cases.
Preview:Larry McDonald argues that a major regime shift is underway: years of aggressive fiscal/monetary rescue have inflated paper assets, but tightening liquidity, private-credit stress, and AI-related capex/accounting strain could push capital toward hard assets like gold, silver, copper, oil, coal, and natural gas. He is bullish on the commodity complex overall, but says gold is already extended near term and would rather own some copper and oil exposure from here while keeping a core hard-asset allocation.
Preview:Jonathan Wellum argues the U.S. is structurally stronger than Canada because it is attracting capital, cutting taxes/regulation, and encouraging production, while Canada is overregulated, overtaxed, and undermining its resource base. He is constructive on U.S. equities and banks, cautious on AI valuations, and strongly bullish on precious metals, especially gold and silver, as a hedge against persistent debt, inflation, and currency debasement.
Preview:Gerald Celente argues that the U.S. is in long decline, the dollar is weakening, gold is in a secular bull market, and a speculative AI/tech bust could hit equities hard. He links the market setup to geopolitics, debt, and what he sees as policy failures, while also saying Bitcoin is still bid in the near term because powerful political interests are involved.
Preview:Michael Howell argues that the world is in a debt-driven regime where liquidity, not the real economy, is the main driver of markets. In his view, central-bank and Treasury actions have prolonged an expanding liquidity cycle that is now getting mature, so risk assets can still run for a while, but the next meaningful inflection is likely within the next 12 months. His core portfolio message is to own monetary-inflation hedges—especially gold, with Bitcoin, silver, and select pricing-power equities also favored—while being cautious on bonds and highly levered risk assets.
Preview:Jonathan Wellum argues that value investing wins because it focuses on business fundamentals, valuation, patience, and tax efficiency rather than short-term price noise. The interview contrasts that discipline with day trading, momentum, and speculative behavior, while repeatedly using Buffett, Peter Lynch, and historical drawdowns to show why emotional trading often underperforms.
Preview:Dave Collum argues the market is in an extreme, system-wide bubble and that the S&P could see a 70% drawdown. He says the Fed’s usual tools are losing effectiveness, passive indexing has removed “adult supervision,” and the current setup is more dangerous than the late-1990s tech bubble because the excess is broader, more leveraged, and more embedded in the global system.
Preview:Jonathan Wellum of Rocklink Investment Partners compares Canadian vs. US stock markets, highlighting the US market's overwhelming size (~$50T vs ~$2.5T), liquidity advantage, and tech dominance. Canada's TSX is heavily concentrated in resources (~30%) and financials (~31%), limiting diversification and driving structurally lower returns (6-7% vs. double-digit S&P). He advises US investors not to overlook Canadian gems — particularly in energy, royalties, and uranium — where quality companies trade at discounted valuations partly due to passive-flow neglect. He allocates ~60-65% US, remainder mostly Canada. Currency risk is significant: the CAD can swing 30-40% against the USD over cycles.
Preview:Chris Vermeulen says the market is at a critical tipping point and he’s staying mostly on the sidelines until price action confirms either a renewed uptrend or a deeper rollover. He is bullish on select leaders like Nvidia, parts of the Magnificent 7, gold/miners, Bitcoin, and says oil looks weak; he also thinks the U.S. dollar may be bottoming and the 10-year yield chart points higher, which he ties to rising financial-stress risk.
Preview:Louis-Vincent Gave argues we’ve entered a structurally weaker U.S. dollar regime, which changes portfolio leadership and makes U.S. assets less compelling relative to China, emerging markets, and select non-U.S. cyclicals. He says the U.S. is being hurt less by cheap capital or energy than by policy uncertainty, while China is underappreciated because investors have shifted from worrying about capital flight to debating returns on capital.
Preview:Jonathan Wellum argues that U.S. equity valuations are stretched, but he still likes the market selectively and remains invested. He is cautious on broad indexes, prefers bottom-up stock picking, and sees value in financials, royalty companies, infrastructure, and certain AI beneficiaries rather than expensive mega-caps like Nvidia. He is constructive on U.S. policy direction, skeptical of Fed central planning, and very negative on Canada’s growth model and bureaucratic approach.
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