Podcasts about Wetterling

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins me to reflect on the status of the gold and silver bull market, after the corrective moves of the last few months.  He also outlines how he is approaching rebalancing his portfolio from a high-conviction standpoint, and by weighting his positioning heaviest to the junior resource stocks with compelling alpha catalysts on tap in their coming newsflow.    He starts off noting that the correction thus far in gold and silver, from the high peaks earlier this year to the recent lows is almost getting as extreme, on a percentage basis, as the moves seen in the metals during the Great Financial Crisis.  For this reason he believes most of the downside price moves have already occurred across the sector, and he is not expecting a prolonged multi-year bear market from here.   With regards to the junior resource stocks, his perspective is that these deeper corrections bring clarity to one's conviction in any given portfolio position.  When analyzing the downside trends that we've seen in precious metals stocks over the last few months, and especially during the sharp moves lower, like what we saw the end of last week; he encourages investors to reevaluate what they hold and why they got positioned in those stocks in the first place. One may feel compelled to accumulate a larger position as the price and valuation of a stock drops lower, because of the conviction they have in that company value catalysts on the horizon. The lower it goes, the more mispriced it will appear by the market, and the more compelling it will be on a risk/reward basis. In contrast, he points out being willing to sell out of a sector momentum beta position, especially if one gets lower conviction the more it corrects lower in price. This distinction will underscore that this position was more of a beta momentum trade, where the company was still dependent on higher metals prices strong sector sentiment to keep moving higher. He outlines that focusing on alpha catalysts in junior resource stocks, can end up meaning less outperformance during the really bullish periods, but conversely less downsize pressure during sector corrections.     Erik highlights why Goliath Resources Limited (TSX-V: GOT) (OTCQX: GOTRF) is a good example of a stock that has corrected hard with the rest of the PM sector, but is fully-funded for a 50,000 meter drill program, with a high hit rate on the prior few seasons of drilling, and a propensity to rerate based on positive newsflow. He notes that this stock is demonstrating a pricing pattern he has seen over and over again in junior mining stocks. Often a correcting stock will briefly break downside support, which is where the weak-conviction retail investors capitulate, and then the equity will consolidate and then suddenly surge higher based on their unique alpha catalysts, leaving investors chasing it higher once again.     Click here to follow Erik's analysis over at The Hedgeless Horseman website   * In full disclosure, some companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.   For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.  

JD shares his time in the service, 250 Years Honoring America, and more on WRAM.

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins me to review the key takeaways from both the Commodities Global Expo Conferences we just attended in Washington D.C. and Fort Lauderdale. He also highlights the value proposition that has his attention from 4 of the gold and silver developers which he met with at the conferences, that have put out compelling news in the recent past and that have key growth catalysts on tap in the medium-term.   The companies we discussed in the interview are:   Rua Gold Inc. (TSX: RUA) (NZX: RGI) (OTCQX: NZAUF) - On May 5, 2026, the Company announced the results of a positive Preliminary Economic Assessment (PEA) for its 100%-owned Auld Creek Gold-Antimony Project in the Reefton Goldfield, New Zealand. The PEA — prepared in accordance with NI 43-101 disclosure standards and effective April 25, 2026 — highlights the potential for robust economics from a high-grade, shallow underground starter mine, supported by access to established Reefton infrastructure for efficient transporting to port.   Excellon Resources Inc. (TSXV: EXN) (OTC Pink: EXNRF) (FSE: E4X2) – On May 27, 2026, the Company provided a market update on operational activities at its 100%-owned Mallay silver-lead-zinc mine in central Peru. Mill ready for pre-commissioning. All critical refurbishment and wet commissioning milestones completed; bulk-sample campaign targeted for June 2026. ~15,000 tonnes stockpiled from Isguiz vein and Footwall Zone. Surface stockpile provides representative feed for the pre-commissioning bulk-sample campaign. Infill drilling informing updated restart planning. Results from the ~2,500-metre program are being integrated into the geological model; the Company expects to have an updated restart plan and schedule in early Q3/26.   Highlander Silver Corp. (TSX, NYSE American: HSLV) – On April 07, 2026, the Company provides a portfolio update following the successful completion of its acquisition and combination with Bear Creek Mining. Daniel Earle, President and CEO of Highlander Silver, commented: “Highlander Silver is well positioned to fast-track project advancement across its portfolio of high-quality silver assets. This includes a focus on high-impact exploration, project optimization, and site preparation for development of Corani, the largest fully permitted primary silver project in the world, as well as permitting at San Luis, one of the highest M&I resource grade projects in both the gold and silver sectors. As of March 31, the Company had an unaudited cash balance of approximately US$100 million and no debt. The Mercedes gold-silver mine also made a positive cash contribution in its first month of operations following restructuring under our stewardship. We provide a summary of our baseline plans below and forecast a year-end cash balance of approximately US$60 million. This reflects a disciplined approach to spending that delivers on our core objectives while preserving flexibility to scale up our exploration programs later in the year.”   Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) – On May 12, 2026, the Company announced that its wholly owned Mexican subsidiary, Minera Mar de Plata (“MMP”), has executed three binding Letters of Intent (the “LOIs”) with two residents of Sonora, Mexico to acquire a 100% interest in 24 mineral concessions, and up to a 51% interest in five additional mineral concessions, located adjacent to the Company's Cerro Caliche gold project in Sonora, Mexico. The Vendors are at arm's length to the Company and to its associates and affiliates. Sonoro believes the acquisition is a strategic opportunity to potentially demonstrate the Cerro Caliche project as being part of a larger gold epithermal system, with wide-scale potential to host multiple mineralized zones.    * In full disclosure, some companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.   Click here to follow Erik's analysis over at The Hedgeless Horseman website     For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.  

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to review the value proposition that has his attention from recent corporate news and strategies from 3 silver, copper, and gold explorers that have recently press-released significant company milestones.   The companies we discussed in the interview are:   * Silver Bow Mining Corp. (NYSE American: SBMT) – On May 4, 2026 the Company announced that surface drilling has commenced at the Company's Rainbow Block Project in the Butte Mining District of Montana, marking the launch of its 2026 exploration program.   The 2026 program is designed to advance the Company's understanding of mineralization across the Rainbow Block and to support ongoing evaluation of priority silver, gold, zinc, and lead targets. The surface drill program is expected to include approximately 25,000 feet of drilling on Company private lands and test areas adjacent to the Company's previously announced Inferred Mineral Resource Estimate of approximately 170 million silver equivalent ounces at 14.8 oz/ton (or 4.28 oz/ton Ag, 0.05 oz/ton Au, 1.25% Pb, and 4.59% Zn).   * Barksdale Resources Corp. (TSXV: BRO) (OTCQB: BRKCF) (FSE: 2NZ) – On May 4, 2026 the Company announced assay results from the first four holes of the 2026 reverse circulation drill program on its flagship Sunnyside Project located in Arizona, USA. Assay results show several broad areas of shallow, high-grade copper-zinc-silver mineralization hosted within the Sunnyside Monzonite Porphyry.   Highlights include:   0.45% Cu over 392.19m from 3.05m to 396.24m in hole SUN26-002R including: 0.90% Cu over 60.96m from 173.74m to 234.70m 0.93% Cu over 60.96m from 265.18m to 326.14m Hole ended in mineralization 0.29% Cu over 454.15m from 3.05m to 457.20m in hole SUN26-001R including: 0.95% Cu over 39.63m from 248.41m to 288.04m Hole ended in mineralization   * Headwater Gold Inc. (CSE: HWG) (OTCQX: HWAUF) - On April 28, 2026, the Company announced results from the recent core drilling program at its TJ Project in Elko County, Nevada. The program was fully funded by OceanaGold Corporation (TSX: OGC, NYSE: OGC) pursuant to the earn-in agreement announced October 15, 2025.   Highlights: Highest gold grades to date: Core drilling returned grades up to 5.61 grams per tonne gold (“g/t Au”), confirming the presence of a high-grade epithermal vein system below the surface sinter.  Large, dynamic hydrothermal system confirmed: Drilling intersected 100 m thick hydrothermal breccia intervals, syn-mineral intrusions and multiple phases of epithermal veining across more than 500 metres of strike length. System open and expanding: Drilling has tested only a small portion of the system, but mineralization remains open at depth and along strike. The Company recently expanded the TJ land position by 88% (to 1,990 hectares) to cover the prospective northern continuation of the TJ graben.       * In full disclosure, some companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.   Click here to follow Erik's analysis over at The Hedgeless Horseman website   For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned, and companies profiled may be sponsors of the KE Report.

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to review the value proposition that has his attention from recent corporate news and strategies from 3 gold explorers that have recently press-released significant company milestones.   >> The companies we discussed in the interview are:   BCM Resources Corporation (TSXV: B) – On April 27, 2026 the Company announced completion of its first diamond core drill hole of the 2026 Thompson Knolls Phase 4 exploration campaign. Hole TK15, a vertical hole collared approximately 250 m southwest of Hole TK8, reached a depth of 3,995.5 feet (1,219 m), a record depth for the project. This hole was designed to test the extension of skarn Cu-Au-Ag-Mo mineralization previously encountered in Hole TK8 (please refer to the Company's news release dated May 24, 2023).  Extensive intervals of pyroxene-diopside skarn were encountered within strongly marbleized dolomites beginning at the top of bedrock at approximately 1,950 feet (594.5 m) and continuing to a depth of approximately 3,900 feet (1,188.7 m) at which point quartzite became the dominant lithology.   Dryden Gold Corp. (TSXV: DRY) (OTCQX: DRYGF) (FSE: X7W) – On April 27, 2026 the company announced that as a result of excess demand it is increasing the previously announced (April 14, 2026) non-brokered equity financing to include up to an aggregate of 23,000,000 common shares for aggregate proceeds of up to $9,716,280.   The Company is pleased to announce that in connection with the Upsized Financing, Centerra Gold Inc. will the exercise their 'top-up right' to retain their 9.9% interest in the Company as granted within the investor rights agreements, dated December 17, 2024. Centerra will purchase 2,305,000 common shares issued under the charity flow-through portion of the financing. The Company is also pleased to announce that Alamos Gold Inc., will purchase 2,410,000 common shares issued under the charity flow-through portion of the financing. Alamos currently holds an aggregate of 23,003,326 common shares of the Company, representing a security holding percentage of 10.46%. At Closing Alamos will hold an aggregate of 25,413,326 common shares of the Company maintaining its 10.46% ownership of the outstanding shares of the Company.   ** To view the KE Report Webinar with Dryden Gold on April 21st click below: https://youtu.be/7uYen-20Hx4   Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) – On April 27, 2026 the Company announced that it has closed its previously announced oversubscribed, non-brokered private placement of 50,833,334 units at $0.24 per unit, for gross proceeds of CAD $12,200,000.  As previously announced, net proceeds of the Offering will be used to complete a two phase 50,000-meter drilling program at the Company's flagship Cerro Caliche gold project in Sonora, Mexico. The program will focus on infill drilling to further explore larger intervals of higher-grade gold mineralization identified in prior drilling campaigns. Expansion drilling is also scheduled at the recently acquired northern extensions to confirm potential structural continuity of the project's northwest trending mineralized corridors.     * In full disclosure, some companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.]   Click here to follow Erik's analysis over at The Hedgeless Horseman website   For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned, and companies profiled may be sponsors of the KE Report.

The U.S. senate overturned a ban on mining in the Boundary Waters Thursday. It's a win for mining companies — and a loss for environmentalists who say mining will pollute the region. We heard from a Minnesotan in the mining industry.And a New York Times reporter shared what she learned by talking with dozens of former and current DHS employees.A St. Paul elementary school will soon launch a historic Afrocentric curriculum for its majority Black student body.Plus, we heard from a documentary filmmaker following the Jacob Wetterling murder case — after it was closed — through the perspective of the Wetterling family.And we spoke to a Duluth writer who wrote a book about the best hikes in the country.The Minnesota Music Minute was “St. Paul” by Anchorhead.

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to reflect on the key takeaways and investing themes from the news out Monday April 20th that Agnico Eagle Mines Limited (TSX: AEM) NYSE: AEM) is acquiring both Rupert Resources Ltd (TSX: RUP, OTCQX: RUPRF, FSE:R05) and Aurion Resources Ltd. (TSXV: AU) (OTCQX: AIRRF).  Agnico Eagle is consolidating these projects to the expand its exploration and development footprint in the Central Lapland Greenstone Belt in Finland ("CLGB").   We discuss the dynamics of consolidating area plays, the Tier 1 jurisdiction of Finland, the valuations the companies are receiving, the timing of the transaction after years of negotiations and posturing from all companies, and what this means for future acquisitions from senior producers in the gold sector.   Agnico Eagle has agreed to acquire all of the outstanding common shares of Rupert Resources it does not already own by way of plan of arrangement, where each Rupert Share will be exchanged for: (i) upfront consideration of 0.0401 of a common share of Agnico Eagle, representing approximately C$12.00 based on the five-day volume weighted average trading price per Agnico Share as at April 17, 2026 (the “Share Consideration”); and (ii) contingent consideration of up to C$3.00, in the form of a contingent value right (“CVR” and together with the Share Consideration, the “Consideration”), that is payable in cash upon certain milestones being achieved over the 10 year term of the CVR.   Agnico Eagle Mines Limited has agreed to acquire all of the issued and outstanding common shares of Aurion Resources. Aurion has assembled a large, contiguous land position of approximately 761 km² within the CLGB, including its joint venture properties with B2Gold Corp. (the "Fingold JV"; 30% Aurion/70% B2Gold), Kinross Gold and KoBold Metals in Finland. These properties provide significant exploration upside across multiple targets, with over 20 discoveries since 2016. Aurion shareholders to receive all-cash consideration of C$2.60 per Aurion Share Purchase price represents premium of approximately 46% to the closing price as of April 17, 2026   * In full disclosure, some companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.]   Click here to follow Erik's analysis over at The Hedgeless Horseman website     For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned, and companies profiled may be sponsors of the KE Report.

The U.S. senate overturned a ban on mining in the Boundary Waters Thursday. It's a win for mining companies — and a loss for environmentalists who say mining will pollute the region. We heard from a Minnesotan in the mining industry.And a New York Times reporter shared what she learned by talking with dozens of former and current DHS employees.A St. Paul elementary school will soon launch a historic Afrocentric curriculum for its majority Black student body. Plus, we heard from a documentary filmmaker following the Jacob Wetterling murder case — after it was closed — through the perspective of the Wetterling family. And we spoke to a Duluth writer who wrote a book about the best hikes in the country.The Minnesota Music Minute was “St. Paul” by Anchorhead.

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to review the value proposition that has his attention from recent corporate news and strategies from 3 advanced gold explorers and developers that have recently press-released significant company milestones.   >> The companies we discussed in the interview are:   Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) – On April 13th , the Company announced the results of a feasibility study ("FS") for the Phase 1 development of the 100%-owned Perron Gold Mine, located in the Abitibi region of Québec. The Perron Gold Mine is planned to consist of multiple phases; where the Phase 1 Life of Mine ("LOM") will utilize underground mining and toll-milling of the high-grade Champagne Zone. During Phase 1 production, efforts will be directed for assessing and developing Phase 2, which plans to further develop both underground and open pit operating areas. Phase 2 will also contemplate the construction of an on-site mill and additional facilities to facilitate processing of the remaining mineralization. In parallel, AMEX will continue exploration activities on the newly expanded land package. That covers some 70 kilometers of strike with a consolidated land package spanning a district-scale 618.53 km².     K2 Gold Corporation (TSXV: KTO) (OTCQB: KTGDF) (FSE: 23K) – On April 8th, 2026 the Company announced that the U.S. Bureau of Land Management ("BLM") has issued a positive Record of Decision ("ROD") approving the Company's proposed exploration drilling program at its flagship Mojave Project located in Inyo County, California.   Receipt of the ROD marks the conclusion of an extensive environmental review process conducted under the National Environmental Policy Act ("NEPA")) and represents the most significant milestone for the Mojave Project and the Company's advancement to date.      Goldsky Resources Corp. (TSXV: GSKR) (FNSE: GSKR SDB) (OTCQX: GSKRF) (FRA: HEG0) – On April 9, 2026 the Company announced that shareholders of the Company have overwhelmingly approved the creation of Agnico Eagle Mines Limited as a Control Person of the Company at the Company's special meeting of shareholders held on the 9th. The approval of Agnico Eagle as a Control Person was done in connection with Goldsky Resources' proposed acquisition of Agnico Eagle Sweden AB's, a wholly owned subsidiary of Agnico Eagle, 55% interest in the Barsele Gold Project in Sweden, resulting in Goldsky Resources consolidating 100% ownership of Barsele.   * In full disclosure, some companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.]   Click here to follow Erik's analysis over at The Hedgeless Horseman website   For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned, and companies profiled may be sponsors of the KE Report.

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to review the value proposition that has his attention from recent corporate news and strategies from 3 advanced gold and silver developers looking to go into the 2nd wave of the Lassonde Curve on the pathway to production in the next 1-2 years.   >> The companies we discussed in the interview are:   Montage Gold Corp. (TSX: MAU, OTCQX: MAUTF) – On March 30, 2026 the Company reported an updated Mineral Resource Estimate (“MRE”) for its Koné and Gbongogo Main deposits, at the Company's flagship Koné project, located in Côte d'Ivoire, where construction continues to rapidly advance on-budget and ahead of schedule with first gold pour anticipated through the oxide circuit in late Q4-2026.   Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) - On March 30, 2026, the Company announced that it has obtained the main required governmental authorizations for the execution of its 40,000 tonne underground bulk sampling program at the Perron gold project, located within the locality of Valcanton, near Normétal. Field preparatory work is planned to begin during the month of April, with the objective of initiating portal construction in early summer 2026.   Blackrock Silver Corp. (TSXV: BRC) (OTCQX: BKRRF) (FSE: AHZ0) – On March 3, 2026, the Company announced the issuance by the Nevada Department of Environmental Protection (NDEP), through the Bureau of Air Pollution Control, the Class II Air Quality and Surface Disturbance Permit for the Company's Tonopah West mineral project located along the Walker Lane Trend in Nye and Esmeralda Counties, Nevada, USA. The Permit allows for the disturbance of up to 150 acres (60.7 Hectares) at Tonopah West for five (5) years, which can be extended and modified as Tonopah West moves toward permitting and construction of its proposed exploration decline, test mining and bulk sample extraction programs.   Click here to follow Erik's analysis over at The Hedgeless Horseman website   For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

[Recorded on Monday March 23rd, 2026] Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins me for a candid discussion on metals sector volatility, and the increasing disconnect we are seeing in the valuation that many of the gold, silver, and copper stocks are receiving after a violent sector correction in March.    Many of the advanced explorers and developers have market caps that have cratered when compared to the value of their defined resources in the ground are worth, even after the large correction in the underlying metals prices.   Erik is utilizing this correction to value-shuffle into positions that have built further value but are selling off due to the general negative market sentiment. “Volatility is the poor man's dry powder.” He points to all the opportunities to take advantage of panic-selling, through micro-trading amongst positions that have held up better and those seeing disproportionate selling or that have lagged despite positive news catalysts.   He points out that: “What you do in a serious market correction is going to set your portfolio up for years into the future.” “I can't afford to sell the lows of a correction, especially if I know where the long-term trend is going over the next 10 years”   We review the valuation disconnects between the market caps of companies that have corrected by 30%-60% just in the month of March, versus where the NPV of the projects still are at anywhere near spot metals prices. “With the gold juniors, you don't really care if gold is at $5,500 or $4,500 because that is already so much overkill.” “The lower this sector goes with this panic-selling, the odds increase that there are new multi-baggers being born everyday from these valuation levels.”   Erik is seeing compelling valuations in the silver and copper developers, in the 2nd leg of the Lassonde Curve, as well as the legitimate gold juniors, with 3rd-party validation and large strategic investors adding value to projects of merit.    Click here to follow Erik's analysis over at The Hedgeless Horseman website   For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Birgitta Ohlsson har devota följare, inte minst bland journalister, trots att hon aldrig lyckades bli partiledare i Liberalerna. Kommer hon att sänka Simona Mohamsson, eller kommer Lars Leijonborg att väga upp det hela? Vi får väl se. Per Gudmundsson en av få som verkar förstå att uppgörelsen mellan Liberalerna och SD faktiskt kostat SD något. Johan sörjer att så få journalister skriver njutbart på det sätt som var vanligt förr. Det finns undantag: Mats Holm, Anna-Lena Laurén, Fredrik Sjöberg, Nathan Shachar, för att nämna några. Det är redaktörernas ansvar, precis som det är chefernas ansvar att se till att Public service inte har dubbla politiska måttstockar. Men när det gäller försvinner de. Bra att regeringen och Parisa Liljestrand vill att vi ska ha snyggare arkitektur, men typiskt att det måste motiveras med miljöargument. Det finns inget språk för estetik och historia i Sverige.Galleri Wetterling har flyttat till Nybrogatan, trist för den allt mer utarmade Kungsträdgården, men kul för Wetterling, som hade massor av fina saker på öppningen. Regeringen vill utöka tjänstemannaansvaret. Bra. Sverige har för många universitet. Vi har sett Trollkarlen i Kreml med Jude Law och säger jorå, men Bengt Jangfeldt borde recensera den. Klarna borde ha polisanmälts, men myndigheterna skiter i det. Och vi ska uppträda med livepodd på Ladda livet den 22 maj i Stockholm: ett forum för vuxna människor som behöver inspiration. Hosted on Acast. See acast.com/privacy for more information.

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to review the key takeaways he got from attending the recent PDAC conference in terms of attendance, investor sentiment, reaction to company newsflow before and during the event, and conversations with other investors and management teams.   In addition, he reviews the value proposition that has his attention in the corporate news and strategies from 3 advanced gold and silver developers looking to go into the 2nd wave of the Lassonde Curve on the pathway to production in the next 1-2 years     >> The companies we discussed in the interview are:   Cabral Gold Inc. (TSXV: CBR) (OTCQX: CBGZF) – On March 10, 2026, the Company announced that the Environmental Council (COEMA) for the state of Pará has issued the Licença Prévia ("LP") for the Full Mining License at Cuiú Cuiú Gold District, Brazil.   Sonoro Gold Corp. (TSXV: SGO) (OTCQB: SMOFF) (FRA: 23SP) – On Feb. 28, 2026 the Company announced the results of an independent updated Mineral Resource Estimate (“MRE”) and updated Preliminary Economic Assessment (“PEA”) on the Company's Cerro Caliche gold project located in Sonora State, Mexico. The PEA demonstrates the potential viability for a ten-year life of mine (“LOM”), open pit, heap leach mining operation with an initial one-year ramp up production rate of 12,000 tonnes per day (“tpd”) and an increase to 16,000 tpd for the remaining LOM.   Cerro de Pasco Resources Inc. (TSXV: CDPR) (OTCQB: GPPRF) – On March 02, 2026 they announced entering into a Project Development Funding Agreement with the U.S. International Development Finance Corporation (“DFC”), the development finance institution of the United States Government. Under the Agreement, DFC will provide up to US$5 million in milestone-based project development funding to support defined project development activities for the Quiulacocha Tailings Reprocessing Project in Peru. In addition, the Agreement states that DFC is considering the possibility of providing up to US$300 million in long term direct loan financing to support construction of the Project.     * In full disclosure, some companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.   Click here to follow Erik's analysis over at The Hedgeless Horseman website     For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Resource sector investor Erik Wetterling (a.k.a. The Hedgeless Horseman) shares insights about current conditions in gold and silver equities, market corrections, jurisdictional risk, and how he sizes positions. Erik shares his perspective of risk/reward set-ups and when he bets big on undervalued junior mining stocks. Furthermore, Erik discusses market psychology, volatility, some stock picks and what he looks for in a quality junior mining stock opportunity. 0:00 Intro 1:04 Market Correction After VRIC: Staying Fully Invested & Value Shuffling 2:46 Why Juniors Still Look Cheap: Patience, Boredom, and the ‘Wall of Worry' 4:23 Sentiment Whiplash: Buying Misery vs. Hot Metals Markets 7:21 Beyond Gold & Silver: Copper, Nickel, and Macro Uncertainty (AI, Economy) 9:39 How to Play Base Metals: Producers vs. Developers + The Importance of Teams 12:29 Conference Circuit: First Vancouver Trip, PDAC Plans, and Why Events Matter Again 15:11 PDAC Talk Preview: Psychology, Volatility, and Being Comfortable Looking Stupid 18:03 Filtering the Noise: Social Media, Discipline, and Holding a 2-Year Thesis 22:12 Technicals vs. Fundamentals: Charts as Entertainment, Position Size as the Real Tool 25:58 People Matter: Evaluating CEOs, Communication, and Execution Ability 27:03 Why ‘Good People' Beat ‘Hidden Gems' in Mining Investing 28:50 Due Diligence Shortcuts: Third-Party Validation & Knowing What Success Looks Like 29:43 Vision Matters: 1–3 Year Roadmaps and 10-Year Mine Plans 31:19 People vs. Project: When the Asset Speaks for Itself 33:32 Low-Maintenance, Long-Term Portfolios (and Why People Matter More Over Time) 34:42 Jurisdictional Risk Spotlight: Mexico After the Tragedy 38:22 Positioning Through Metal Cycles: Invest Like It's a Perpetual Bear Market 41:34 Concentration & Conviction: No Hard Rules on Position Size 45:01 Qualitative vs Quantitative Conviction: Choosing the Right Team Over ‘Cheap' Numbers 49:06 Top Pick Breakdown 51:32 Wrap-Up, Where to Follow Erik's website: https://www.thehedgelesshorseman.com/ Sign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: http://eepurl.com/cHxJ39 Mining Stock Education (MSE) offers informational content based on available data but it does not constitute investment, tax, or legal advice. It may not be appropriate for all situations or objectives. Readers and listeners should seek professional advice, make independent investigations and assessments before investing. MSE does not guarantee the accuracy or completeness of its content and should not be solely relied upon for investment decisions. MSE and its owner may hold financial interests in the companies discussed and can trade such securities without notice. If you buy stock in a company featured on MSE, for your own protection, you should assume that it is MSE's owner personally selling you that stock. MSE is biased towards its advertising sponsors which make this platform possible. MSE is not liable for representations, warranties, or omissions in its content. By accessing MSE content, users agree that MSE and its affiliates bear no liability related to the information provided or the investment decisions you make. Full disclaimer: https://www.miningstockeducation.com/disclaimer/

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to review the value proposition that has his attention in the corporate news and strategies from 4 earlier-stage copper exploration companies that are near other significant projects, or that have the types of large targets that would attract the interest of senior producers.     >> The companies we discussed in the interview are:   Mogotes Metals Inc. (TSX.V: MOG) (OTCQB: MOGMF) (FSE: OY4) Andina Copper Corporation (TSX.V: ANDC) (OTCQB: PMMCF) (FSE: FIR) Tribeca Resources Corporation (TSX.V: TRBC) BCM Resources Corporation (TSX.V: B)      * In full disclosure, some companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.   Click here to follow Erik's analysis over at The Hedgeless Horseman website   For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/   Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.  

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins me to reflect on the continued disconnect we are seeing in valuation that many of the gold and silver stocks are receiving in their market caps, compared to what the value of their ‘banked success' of defined resources in the ground are worth; or in light of the expanding net present values of their economic studies when analyzed at today's spot prices.   We review the many investors are getting worried that they've already missed the moves in most companies, simply because they've run up multiple-fold.  However, those investors are not really considering that the big moves higher on the charts are coming off incredibly oversold valuations that were not reflective of the value created even at much lower metals prices.   Now that gold and silver have run up so much higher, many of the stocks are actually just as undervalued now as they were before they put in big 3x or 5x moves to the upside.   “Some of the highest margin of safety I've ever seen in this sector is still present despite some of these juniors having gone up X multiples.”   At anywhere near today's spot prices most projects should actually be fetching far higher valuations, even using conservative multipliers for resources or using the advanced economic studies in place.  We contrast this current undervaluation seen across most of the sector PM stocks against other more richly valued periods, like back at the peak of the sector surge back in 2016.   Back at that point in time, even though metals had started moving up sharply, there were many stocks that were still subeconomic and yet were pricing in future higher metals price values that far exceeded their economic studies or value of their resources.  This is why things topped and took years to consolidate afterwards, which is a very different converse situation than what we are seeing play out in today's market. Erik points out that there seems to be a general disbelief of current metals prices and reluctance to even value companies somewhere between base case assumptions and current prices.   This disbelief is keeping the sector ripe with opportunities and climbing the proverbial “wall of worry;” which is not one one typically sees at or near market tops.      Click here to follow Erik's analysis over at The Hedgeless Horseman website     For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to review the value proposition that caught his attention from post conference meetings and based on recent news from 1 gold developer/explorer and 1 earlier-stage gold exploration company; both going after drill targets on large potential Tier-1 deposits that would be of interest to senior producers if discoveries are made.    >> The companies we discussed in the interview are:   Goldsky Resources Corp (TSXV: GSKR) (FNSE: GSKR SDB) (OTCQX: GSKRF) (FRA: HEG0) On January 28th, 2026 the Company announced that it entered into a definitive agreement with Agnico Eagle Sweden AB, a wholly-owned subsidiary of Agnico Eagle Mines Limited, pursuant to which Goldsky has agreed to acquire the remaining 55% interest in the Barsele Gold Project in Sweden from Agnico, resulting in Goldsky consolidating 100% ownership of Barsele. On February 3rd, 2026 the Company announced commencement of the 2026 winter drilling season at its 100% owned Rajapalot property in Northern Finland. Four diamond drill-rigs have been mobilized to site over the past weeks and have begun a 10,000 meter drilling program.   Kirkland Lake Discoveries Corp. (TSXV: KLDC) (OTCID: KLKLF)  On January 22nd, 2026 the Company announced an update on its ongoing, fully funded 25,000-m diamond drilling program at its KL West Property in the Kirkland Lake region of Ontario. Recent drilling and associated geochemical results have confirmed altered syenite intrusions as a primary control on gold mineralization at the Wolverine Bend target. These results validate the Company's exploration model and significantly expand the interpreted scale and style of intrusion-related gold mineralization along the Winnie Lake Stock ("WLS") contact corridor. ON December 18th, 2026 the Company announced that it has entered into a definitive agreement with Orecap Invest Corp. providing for the acquisition of the Mirado Gold Project, a 2,500-hectare property hosting an inferred historical resource of 10.6 Mt at 1.29 g/t for ~442,000 oz Au with strong opportunities for near-resource expansion and regional discovery.   * In full disclosure, some companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.   Click here to follow Erik's analysis over at The Hedgeless Horseman website   For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to review the value proposition that caught his attention in the news from 1 advanced developer expediting the move into production, along with 2 earlier-stage gold and copper exploration companies; both going after drill targets on large potential Tier-1 deposits that would be of interest to senior producers if discoveries are made.    >> The companies we discussed in the interview are:     Montage Gold Corp. (TSX: MAU, OTCQX: MAUTF) – On Jan. 19, 2026, Montage announced that rapid construction progress continues to be made at its Koné project, in Côte d'Ivoire; where the first gold pour through the oxide circuit is now anticipated, ahead of schedule in late Q4-2026.   Inflection Resources Ltd. (CSE: AUCU) (OTCQB: AUCUF) – On January 19, 2026 Inflection provided an update on drilling completed in New South Wales, Australia under the Exploration Agreement with AngloGold Ashanti Australia Ltd. High-grade gold was intersected in a new standalone target area within the Trangie district. Drill hole TRNDH032 returned 3.0 metres grading 7.72 g/t gold from skarn-style alteration. 83 air-core drill holes are planned to commence on the Trangie project in February to follow-up on the recent intercept in hole TRNDH032 and earlier porphyry gold-copper mineralisation intersected in hole TRNDH023; and   K2 Gold Corporation (TSXV: KTO) (OTCQB: KTGDF) – On January 19, 2026) K2 Gold announced its plan to commence drilling at the Company's Si2 Project, located near Tonopah, Nevada, on or about January 21, 2026. The drill program will test a series of high-priority structural and geochemical targets generated through comprehensive geological studies completed in 2025, along with recently acquired geophysical information, including fluid-inclusion analysis, alteration mineralogy, age dating, an integrated structural interpretation, and IP survey. These studies collectively indicate that Si2 represents the upper levels of a large, intact low-sulphidation epithermal system, and the drill program is fully funded and will consist of up to 2000 metres over 4-6 drill holes.     * In full disclosure, some companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.   Click here to follow Erik's analysis over at The Hedgeless Horseman website   For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

The WMOI/WRAM January School Spotlight is Monmouth-Roseville Junior High. Hear from Principal Aaron Sikorski, students, Teacher/Coach Mr. Wetterling, and Superintendent Ed Fletcher, courtesy of the Regional Office of Education #33 and MTC Communications.

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins me to review the opportunities he sees in some of the new smaller PM producers ramping up growing revenues at time of record margins and extremely high underlying metals prices.   Additionally, he is seeing compelling value in some of the gold and silver developers expediting their process through the 2nd leg of the Lassonde Curve, on the pathway to construction and production in the next couple years.   We review the continued strange dichotomy between surging precious metals prices and the lagging reactions in many junior gold and silver stocks over the last couple years. Then we look ahead to why we may see more capital start rotating down into the PM junior stocks that are actively pursuing revenue growth as this year unfolds.   We start off discussing just how much more profitable even the small producers are today compared to what the mid-tier producers with much larger production profiles could have achieved in cashflows 6-8 years back.     This current environment has taken what would be considered small tier 3 projects and mines and now turned them into cash cows for companies. By generating substantial revenues, instead of purely diluting through market financings, these junior companies can then fund further growth and development of their other projects.   Erik points to new producers ramping up production like Talisker Resources, Blue Lagoon, and Kuya Silver as companies that are garnering attention on relatively small production profiles, because of just how profitable spot PM prices are for generating new revenues. We highlighted some of the junior resource companies that we've reviewed in prior discussions that blazed this similar path over the last couple of years like Integra Resources, Heliostar Metals, Discovery Silver, and Magna Mining. These companies have been solid case studies of this business pivot, through transforming their business models by going from developers to junior producers, and then they were positively rewarded by the marketplace.     With regards to the junior developers, he sees opportunities in the companies that are expediting their move through the 2nd leg of the Lassonde Curve.   He mentions Amex Exploration, which is working towards trial mining a large bulk sample over the next year, to then fund going into toll-mining process for the first 4-5 years; before eventually building a larger plant and operations on site in a multi-phased mining approach. This is a way to self-fund at least a big part of their future growth through much lower initial capex moves into production. Scottie Resources is also taking a very similar approach and already has completed their bulk sample at the end of last year, bringing in non-dilutive capital and learning a lot through that real world trial mining process to apply to future economic studies and the move towards Direct Ship Ore production.     * In full disclosure, the companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.   Click here to visit Erik's site – The Hedgeless Horseman   For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.  

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins me for an end of the year wrap up, and a look ahead to 2026.  We contrast how different stages of companies are reacting, or not reacting, to the higher underlying metals prices, across the producers, developers, and explorers; as well as where Erik sees the most fundamental catalysts stacking up that are not being properly recognized in current company valuations.   We review the continued strange dichotomy between surging precious metals prices and the lagging reactions in many junior gold and silver stocks from 2024 into 2025, but look ahead to when we may see more capital rotate down into the PM junior stocks heading in 2026.   Since the producers can immediately monetize the higher gold and silver and platinum prices, they have run much more over the last year than the pre-revenue companies. With regards to the junior explorers and developers, he sees the metals prices as merely a tailwind to their coming newsflow and that those fundamental catalysts are much more relevant for any changes to the company's valuation (either up or down).   Erik points to the developers in the 2nd leg of the Lassonde Curve, like Montage Gold that have derisked large projects and been rewarded, or developers that successfully have moved into production, like Artemis Gold as examples of the kind of moves that other stocks may go on as this precious metals bull market matures.       * In full disclosure, the companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.   For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.  

[Recorded December 17th, 2025]:  Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins me to update us on the value proposition he see in 3 gold exploration stocks, based around recent press releases and milestones.   He sees this newsflow and fundamental catalysts as much more relevant for any changes to the company's valuation (either up or down), rather than the improving sentiment within the backdrop of rising underlying precious metals price environment.      The companies we discuss in this interview are:     Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) – On December 16th announced the closing of its acquisition of a 100% undivided interest in the 324 non-contiguous mining claims comprising 8,392.92 hectares in the Abbotsford and Hepburn Townships in the province of Ontario. These adjacent Abbotsford and Hepburn Projects will compliment their land concessions at their flagship Perron Gold Project in Quebec. Additionally, on December 17th, Eric Sprott announced that, 2176423 Ontario Ltd., a corporation beneficially owned by him, sold 14,868,200 common shares of Amex Exploration Inc., through a private agreement, at $4.00 per Share for total consideration of $59,472,800.   On the same day, Eldorado Gold Corporation (TSX: ELD) (NYSE: EGO) acquired ownership of 14,868,200 common shares of Amex Exploration Inc. at a price per Share of C$4.00, for total consideration of C$59,472,800, pursuant to a private agreement with a third party (which were Eric Sprott's shares).      First Nordic Metals Corp. (TSXV: FNM) (FNSE: FNMC SDB) (OTCQX: FNMCF) and Mawson Finland Limited (TSXV: MFL) (FRA: PM6) – On Dec. 16, 2025 announced the successful closing of the previously announced acquisition by First Nordic of all of the issued and outstanding common shares of Mawson by way of a court-approved plan of arrangement. The Transaction consolidates a large and prospective gold development and exploration portfolio in Sweden and Finland, including First Nordic's Barsele Project, a joint venture with Agnico Eagle Mines Limited and its Gold Line Belt projects in northern Sweden and Oijärvi Project in Finland, and Mawson's Rajapalot Project and surrounding Rompas-Rajapalot Property in northern Finland. In connection with the Transaction, the Company will change its name to Goldsky Resources Corp., subject to receipt of the approval of the TSX Venture Exchange.     FireFox Gold Corp. (TSX.V:FFOX) (OTCQB:FFOXF) – On December 8, 2025 reported results from an additional four holes of its 2025/26 diamond drilling program at the Company's 100%-held Mustajärvi Gold Project in Lapland, Finland. Drill hole 25MJ005 is among the best holes yet drilled on the property, extending both shallow and deeper high-grade gold zones well to the west from previous drilling at the East Zone.    We went on to speculate on how Agnico Eagle may be willing to negotiate turning over their JV interest on  Barsele in Sweden with First Nordic, to focus on a regional consolidation in Finland of Firefox, Rupert, and Aurion into a district camp.   Agnico already has a strategic position in both Rupert and Firefox.   * In full disclosure, the companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.   Click here to visit Erik's site – The Hedgeless Horseman   Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.     For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/  

Recorded December 1st, 2025:  Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins me to outline any adjustments that he is making to the value proposition in 3 gold exploration stocks, based around recent press releases and milestones.   He sees this newsflow and fundamental catalysts as much more relevant for any changes to the company's valuation (either up or down), rather than the improving sentiment within the backdrop of rising underlying precious metals price environment.      The companies we discuss in this interview are:     Montage Gold Corp. (TSX: MAU, OTCQX: MAUTF) – On November 28, 2025 — Montage Gold Corp. announced that it has entered into a binding Scheme Implementation Deed with African Gold Limited (ASX: A1G) pursuant to which Montage will acquire all of the issued share capital of African Gold that it does not already own, by way of an Australian court-approved Scheme of Arrangement. The Transaction adds the high-quality resource-stage Didievi project in Côte d'Ivoire to Montage's portfolio and strengthens its footprint in the country, where it has established a strong presence through its ongoing build of its Koné project, which remains on-budget and well on schedule.   K2 Gold Corp. (TSX.V: KTO) (OTCQB: KTGDF) – On December 1, 2025, K2 Gold announced that the United States Bureau of Land Management (BLM) issued a Final Environmental Impact Statement (FEIS) for K2's Mojave Exploration Drilling Project in Inyo County, CA. This milestone follows rigorous independent review, over 100 days of public comment and scoping, and consultation with local communities representing a significant step forward in de-risking and advancing one of the most compelling exploration projects in the United States.   FinEx Metals Ltd. (TSX.V: FINX) – On November 25, 2025, FinEx Metals announced that it has received initial assay results for the first five drill holes from the East Target of its 100%-owned Ruoppa gold project, located in the Central Lapland Greenstone Belt of northern Finland. The Company completed its first diamond drill program at Ruoppa, comprising fourteen drill holes totalling 2,483 metres, in August and September 2025.     Click here to follow Erik's analysis over at The Hedgeless Horseman website   For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.  

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to review the dichotomy between gold and silver stock fundamentals versus market reactions based on investor sentiment; which is oscillating quite a bit in both directions over the last 2 months.   We review how the sentiment and investor reaction towards company financings has changed a great deal over the last few months.  Now upsized financings, like the one we saw announced for Silver Viper Minerals Corp. (TSXV: VIPR) (OTCQB: VIPRF) for $15 million, are having positive reactions after the news is released; instead of it being a reason to sell the stock down.   Erik points out that now investors are more hesitant to just sit on the sidelines, because they see the risk being to the upside if the upsized capital raised can then lead to further news and value creation from the company.   Next we discussed what kinds of other resource sector news is getting the best reactions or most traction from the market, from fundamental milestones to merger and acquisition transactions.  Erik highlights that he often likes to search for sector news that may still be impactful for juniors that  he is positioned in, even if the news is not directly associated with a given company.   He highlights the news out today from Hecla Mining (NYSE: HL) focused on exploration at their Midas Project as potentially also beneficial to Headwater Gold Inc. (CSE: HWG) (OTCQB: HWAUF) exploring nearby in their JV with Newmont Gold.   “Hecla Mining Company today announced exploration results from its Midas Project in Nevada, where initial drilling of the previously untested two mile long Pogo Trend has discovered high-grade gold mineralization with visible gold on a new structure. Exploration success at the Midas gold-silver project in Nevada is validating the potential to restart operations at significantly lower capital intensity than comparable development projects, given the existing permitted 1,200 tpd mill and permitted tailings storage facility that remains substantially empty. With the foundational infrastructure already in place and permitted, Nevada's supportive regulatory environment could facilitate timely permitting of additional requirements, positioning Midas as a low-capital-cost opportunity to expand the Company's production profile in a world-class mining district. The Company also reported the advancement of Aurora exploration permitting to FAST-41 Transparency status.”   * In full disclosure, the companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.    Click here to visit Erik's site – The Hedgeless Horseman   For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to review the news out today about Silver Tiger Metals receiving their open-pit permit from Mexico and what that may now unlock as far as valuation and what it means to other developers in Mexico.  We also review an interesting value arbitrage between the fundamental exploration news and the warrant expiration effect in the share price of Altamira Gold.   Silver Tiger Metals Inc. (TSXV:SLVR)(OTCQX:SLVTF) announced on November 7th that it has secured all of the required approvals and permits from the Mexican Federal Environmental Department ("SEMARNAT") to construct the El Tigre Stockwork Silver-Gold Project in Sonora, Mexico. With all approvals for the Project now granted, Silver Tiger is now ready to advance the Project towards construction.   We discussed how other precious metals development projects in Mexico like Sonoro Gold Corp. (TSXV: SGO) (OTCQB: SMOFF) and GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) that were also moving higher today in sympathy on this permitting news.  Additionally, we outlined how important it is to have a solid team with the proper experience building mines like these teams have to move their projects forward after they get the permit approvals.   On November 3, 2025, Altamira Gold Corp. (TSXV: ALTA) (OTCQB: EQTRF) announced the mobilization of a second diamond drill rig to its Cajueiro gold district, Brazil. The additional drill rig will focus on the Central Resource Area and several of the porphyry targets defined in the last 12 months within the broader Cajueiro district, complementing ongoing drilling at the Maria Bonita gold resource.   Then on November 7th Altamira Gold announced announced that the Company had raised $6,284,820 since September 1, 2025 as a result of the exercise of 31,292,400 share purchase warrants and 131,700 broker's warrants (the "Warrants"). The Warrants each had an exercise price of $0.20, and were issued on November 6, 2023 in connection with the Company's non-brokered private placement. The Warrants expired on November 6, 2025.   * In full disclosure, the companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.  Additionally, Shad holds a position in Magna Mining at the time of this recording.   Click here to visit Erik's site – The Hedgeless Horseman For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.  

Recorded Monday October 27th:  Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us for a nuanced discussion on how company valuations can shift more due to investor sentiment than on actual fundamentals and newsflow during precious metals pullbacks. These are opportunities for resource investors to exploit these market disconnects.    We start off looking at how companies releasing positive news are still being sold off indiscriminately, due to the overall shift in sector sentiment, as we've seen the gold and silver prices continue retreating from their highs of 2 weeks ago.   We start off noting the deeper pullbacks are occurring in the stock that conversely went up the most on the recent runs to new highs.   It makes sense to see the pullbacks in the  PM producers due to their tighter correlation with PM prices.  Erik points out that metals prices are much less relevant to junior exploration companies or even early-stage developers still many years away from metals prices affecting future production.   This type of environment where banked success is selling down in tandem with companies that may not even have any defined gold or silver ounces in the ground has Erik animated by the 2nd wave of the Lassonde Curve, where developers go on a run as the market rerates their projects and leverage to higher metals prices down the road.   Erik highlights how he disregards fluctuations in valuations based on sentiment, focusing on longer-term value investing principles and companies that have catalysts on the horizon. He outlines the strategy for making peer comparisons on valuation changes, that may differ on fundamental news drivers, even though there are comparative percentage drops in share price or market caps; making one group of companies more attractive. We also discuss how Erik is fully deployed, so he uses a “value shuffling” approach to high-grading his portfolio with the companies that have the most upside potential based on fundamental catalysts.     For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.   Click here to follow Erik's analysis over at The Hedgeless Horseman website

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins me for a candid discussion to review how different stages of the precious metals stocks are responding to the outsized corrections today and at the end of last week in gold and silver prices.   We start off noting the deeper pullbacks are occurring in the producers due to their tighter correlation with PM prices.  These stocks had attracted a lot of attention from momentum investors, that often were piling in without much thought as to the specific fundamentals or longer-term investing case for these companies.   In contrast, the alpha-driven gold or silver explorers are much more driven by newsflow, and so the metals prices are less germane.  As a result, they've actually been more resilient to this sector correction, and were some of the only stocks in the green on a turbulent day in a sea of red.  Erik points out though, that they also didn't have as much upside torque as the metals prices were climbing, because again they are driven by their own micro catalysts and fundamentals.   Erik is becoming more animated by the second wave of the Lassonde Curve, where the developers have the leverage and optionality to rising metals prices, but there remains a large delta in where the ounces in the ground are being valued versus the margins that the producers are making for each ounce of gold or silver they pull out of the ground and process.   Click here to follow Erik's analysis over at The Hedgeless Horseman website   For more market commentary & interview summaries, subscribe to our Substacks:   https://kereport.substack.com/ https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins me to recap the Nordic Funds and Mines conference last week in Stockholm, Sweden and some of the resource companies that stuck out to him with attractive catalysts on tap to build future value.   We start off discussing the key takeaways from the conference with regards to the quality of the event, the various metals in focus, investor sentiment, and some of the silver and gold companies where he sees an attractive value proposition.   Erik highlights a precious metals producer with expansion potential and an antimony credit, a PM developer with a potential permitting catalyst along with exploration upside, and true grassroots exploration story in the Golden Triangle, funded for a compelling drill program next exploration season.    >> The companies we discuss in this interview are:   Americas Gold and Silver Corp (TSX: USA) (NYSE American: USAS) Silver Tiger Metals Inc. (TSXV: SLVR) (OTCQX: SLVTF) Juggernaut Exploration Ltd (JUGR.V) (OTCQB: JUGRF)    Click here to follow Erik's analysis over at The Hedgeless Horseman website   For more market commentary & interview summaries, subscribe to our Substacks: https://kereport.substack.com/ https://excelsiorprosperity.substack.com/   Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Recorded October 7th, 2025:  Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to review adjustments that he is making to the value proposition in 3 gold exploration stocks, based around recent press releases and milestones. He sees this newsflow as much more relevant for any changes in the company's valuation (either up or down), than the improving sentiment within the backdrop of rising underlying precious metals price environment.   >>  The companies we discuss in this interview are:   Rackla Metals Inc. (TSX-V: RAK) (OTC: RMETF) West Point Gold Corp. (TSXV: WPG) (OTCQB: WPGCF) Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (OTCQB: EQTRF),   Click here to follow Erik's analysis over at The Hedgeless Horseman website   For more market commentary & interview summaries, subscribe to our Substacks: https://kereport.substack.com/ https://excelsiorprosperity.substack.com/   Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to review why the value proposition in the exploration alpha plays are based around news catalysts and milestones, more so that higher metals prices.  For this very reason, he's less interested in the sector sentiment turns we've seen in the valuations of producers and advanced developers in the higher underlying metals price environment, and more animated by the fundamental prospectivity of the explorers that haven't moved up as much yet, but have the biggest potential for gains if they deliver on their thesis and make a discovery and define a significant future economic deposit.   Erik discusses some of the nuances around valuing the potential upside in gold and copper exploration companies, that have compelling drill targets, large strategic shareholders that have already vetting the projects and management teams, are in the right jurisdictions, and that have the potential for rapid upside moves if they make compelling discoveries while expanding resources.     >> The companies we discussed in the interview are:   Red Canyon Resources Ltd. (CSE: REDC) (OTCQB: REDRF) New Break Resources Ltd. (CSE: NBRK) Onyx Gold Corp. (TSXV: ONYX) (OTCQX: ONXGF)   * In full disclosure, some companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.   Click here to follow Erik's analysis over at The Hedgeless Horseman website   Investment Disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins me to review his key takeaways from the Precious Metals Summit in Beaver Creek, and the best opportunities he sees presenting themselves in the resource sector.  Additionally, we get to hear Erik's reaction to the news that broke this Monday reporting on the merger of First Nordic Metals with Mawson Finland, to produce a larger Scandinavian exploration and development vehicle.   Coming into the PM Summit in Beaver Creek, gold, silver, and the precious metals stocks were continuing to make new highs, giving a much improved sentiment to the conference as the bull market raged on. We also got into the nuances of how one may need to adjust company valuations in a dynamic way based on how their newsflow compliments or is at odds with the underlying macro conditions and gold and silver price action.   Erik points out that many of the PM producers and developers, that looked grossly undervalued a year ago and seemed to be ignoring the surging metals prices, are now finally up multiple-fold.  Even the optionality “beta” plays, with sunk costs and banked success via ounces in the ground, have continued to rerate higher at this point; making them less attractive from his vantage point.   In contrast, many of the exploration stocks have only started to move recently, and some explorers or early-stage discovery stocks haven't even moved that much in contrast to the rest of the sector. Erik remains more encouraged by these “alpha” plays, that have clear catalysts on the horizons from their ongoing work programs.   We then shifted over to the news that broke early this week on September 15th, announcing the merger of First Nordic Metals Corp. (TSXV: FNM) (FNSE: FNMC SDB) (OTCQX: FNMCF) (FSE: HEG0) and Mawson Finland Limited ("Mawson") (TSXV: MFL) (FSE: PM6).   Erik unpacks the synergies that he sees in this transaction between the 2 companies, the value proposition of their combined projects, management teams, and board of directors, and how this may provide a better cost of capital, more liquidity, and the ability to negotiate with Agnico Eagle from more of a position of strength.   This transaction will consolidate a large and prospective gold development and exploration portfolio in Sweden and Finland, including First Nordic's Barsele Joint Venture Project and Gold Line Belt projects in northern Sweden and Oijärvi Project in northern Finland, and Mawson's Rajapalot Project and surrounding Rompas-Rajapalot Property in northern Finland.   In full disclosure, both Erik and Shad are shareholders of First Nordic Metals.   Click here to follow Erik's analysis over at The Hedgeless Horseman website     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us or a discussion on the psychological part of investing as sector sentiment improves in this ongoing precious metals bull market. We also get into the nuances of how one may need to adjust company valuations in a dynamic way based on how their newsflow compliments or is at odds with the underlying macro conditions and gold and silver price action.   We start off contrasting the upward pricing of gold and silver metals prices to record prices has been allowed many of the producers and higher quality developers to revalue, but that few of the gold juniors have had the type of outperformance and leverage that one would have anticipated in such a bullish backdrop and remain quite cheap still.  Erik makes the point that many of them, even after having moved up 100%-200% may actually look even cheaper than they did 1-2 years ago, in light of their newsflow, catalysts achieved, and married with the higher metals prices.   Erik addresses how he views different valuations scenarios that can befall junior resource stocks, and that not every portfolio laggard is an indication that something is wrong or that the position needs to be abandoned.     He also reviews some of the pitfalls that investors fall into rotating out of lagging stocks to chase stocks that are consistently running higher, only to see those same trends reverse and for people to be out of position and doubting their investing thesis at precisely the wrong times in the cyclicality of this volatile sector.   Click here to follow Erik's analysis over at The Hedgeless Horseman website   Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins me for a longer-format more candid ‘fire-side chat' type of discussion, where we review the different trends in price performance, sentiment, and momentum across various stages of gold, silver, and copper stocks.   We start off contrasting the pricing reactions in the gold producers and higher quality developers to the moves higher in gold to record all-time highs.  Erik points out economic studies have had difficulty even keeping up with the rising metals prices over the last year, and how while of the quality gold stocks tracked the moves higher in gold, very few of the gold juniors had the type of outperformance and leverage that one would have anticipated in such a bullish backdrop in the underlying metals price environment.   Next we discussed how those same dynamics in compared to how the silver producers reacted to the rising silver price over the last year, and how the upside torque, and also the outsized moves down during silver corrections also filtered down more into the related silver junior stocks.  Erik points out that the narratives and trading psychology and sentiment around silver equities tends to be more extreme, but that the extremes in volatility is not really suited for most investors.   Then the discussion switched over the strange behavior so far this year in the copper equities -- where they seemed to be shrugging off both explosive moves up to new all-time highs as well as the extreme corrective moves with regards to the underlying copper pricing.    Over the last few years we have seen the copper producers get the bid first, and move more in synch with underlying metals pricing trends and sentiment. Erik outlines that copper juniors have acted more similar to gold juniors between 2020 and 2024 where gold kept making a run up towards $2,000 over and over and getting rejected back lower.  We've seen that play out the last few years with copper approaching and briefly eclipsing the $5 per lb level a few times, where the stocks quit believing that level would stick and build a higher pricing base. In a similar pattern the copper juniors have not participated as much until much higher copper prices finally got them moving.   Since we've seen the producers fair better overall thus far in the multi-year rallies in gold, silver, and copper sectors, compared to overall trends in wide swath of juniors, the question is posed to Erik regarding if people should even invest in junior resource stocks. Erik goes on to highlight some nuances around cheap and undervalued subsectors within resource juniors versus seniors, and why he remains constructive on how things will unfold moving forward in these evolving bull markets in the metals.   Click here to follow Erik's analysis over at The Hedgeless Horseman website

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to review the value proposition that has his attention in the 3 gold exploration companies, that have compelling drill targets, large strategic shareholders, and the potential for rapid upside moves if they make more compelling discoveries while expanding resources.     >> The companies we discussed in the interview are:   Headwater Gold Inc. (CSE: HWG, OTCQB: HWAUF) announced July 22nd that it has signed a non-binding Letter of Intent (“LOI”) with a subsidiary of OceanaGold Corporation (TSX: OGC, OTCQX: OCANF). The parties propose to enter into a definitive agreement within 90 days for OceanaGold to acquire an option to earn up to a 75% interest in Headwater's TJ, Jake Creek and Hot Creek projects in Nevada through staged exploration expenditures totalling up to US$65,000,000 and the completion of Pre-Feasibility Studies.   Additionally, Headwater Gold announced on July 24th that drill permitting has advanced through the formal public scoping phase on Headwater's Lodestar project, located in western Nevada. Project scoping marks a significant step toward securing final drilling approval following the submission of a Plan of Operations to undertake a proposed 3,500-metre drill program. The Lodestar project is being explored in partnership with Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM) through an earn-in agreement announced on May 9, 2023.   Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (OTCID: EQTRF) – On July 17th announced the mobilization of a diamond drill rig to the Cajueiro gold Project, in Brazil. Drilling will initially focus on testing depth and lateral extensions to the recently defined maiden mineral resource at Maria Bonita, followed by the drill testing of several recently identified porphyry targets within the Cajueiro district.   The company is cashed up for this exploration program after having raised $5.28 Million in a non-brokered Private Placement announced on July 2nd.   Cabral Gold Inc. (TSXV: CBR) (OTCQB: CBGZF) announced today the results of an updated Prefeasibility Study ("Updated PFS") on the development of near-surface gold-in-oxide material at the Cuiú Cuiú gold district in Brazil.   (we had recorded this interview yesterday and were unaware that this news would drop literally the next day, but this PFS shows the value proposition Erik outlined in the plan to develop and mine the saprolite for gold and earlier on cash flows from production to feed the exploration).   The Updated PFS, led by Ausenco do Brasil Engenharia Ltda. ("Ausenco"), resulted in significant improvements to the amount of gold produced, mine life, Net Present Value and Internal Rate of Return. These results confirm the Cuiú Cuiú gold-in-oxide starter project provides a high return and a low capital entry point to mine gold, with production possible within 12 months from an investment decision.     * In full disclosure, some companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.   Click here to follow Erik's analysis over at The Hedgeless Horseman website

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to review the value proposition that has his attention in the 3 pre-discovery gold and copper exploration companies, that have large Tier 1 drill targets and the potential for rapid upside moves if they make a compelling discovery and hit with the drill bit on current programs.     >> The companies we discussed in the interview are:   Rackla Metals Inc. (TSX-V: RAK) (OTC: RMETF) – On July 14th, 2025 Rackla Metals announced that drilling and had commenced at the BiTe zone on the Grad property NWT.  The Grad property was staked in July of 2024, and immediate prospecting defined strong gold mineralization at the base of the south facing cliff.  Further sampling in August identified significant sheeted veining hosted in the intrusive and that combined with the gold, bismuth and tellurium geochemistry made it clear that the Company had discovered a compelling Reduced Intrusion-related Gold Systems (RIRGS) occurrence that had never previously been identified or staked.   Inflection Resources Ltd. (CSE: AUCU) (OTCQB: AUCUF) – On July 21, 2025, Inflection Resources announced that it completed the acquisition of an 100% interest in a portfolio of copper-gold projects in the Northern Territory and New South Wales, Australia from subsidiaries of Newmont Corporation. This provides the company optionality on how to advance those properties. The main near-term value drivers will be when more assays get released from any of their four projects that JV option partner AngloGold Ashanti elected to advance to Phase II earn-in. The four Designated Projects are Duck Creek, Trangie, Crooked Creek and Nyngan.   Westward Gold Inc. (CSE: WG) (OTCQB: WGLIF) - On July 8, 2025, Westward Gold announced that drilling is underway at its flagship Toiyabe Hills Property in Lander County, Nevada. Over the next several months, Westward will be testing its Campfire Target Complex for the first time, with approximately 5,000 metres (~16,500 feet) of reverse-circulation (“RC”) drilling across this top-priority zone within the ~61 square-kilometer consolidated Property.     * In full disclosure, some companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.   Click here to follow Erik's analysis over at The Hedgeless Horseman website

In this KE Report Daily Editorial, I'm joined by Erik Wetterling, founder and editor of The Hedgeless Horseman, for a deep dive into the silver market's breakout and the explosive rally in junior metals stocks.   Silver has been the standout performer in 2025, climbing over 30% YTD to a 14-year high near $40. Erik breaks down why junior silver equities, especially the smallest and riskiest names, have seen outsized gains, often disconnected from fundamental improvements. He explains how rising sentiment and a risk-on attitude are driving momentum, leading to sharp rallies in names with little more than leverage to the silver price.   We discuss: The shift from gold leadership to silver, and how the gold-silver ratio dropping from 107 to 85 reflects this change. Why microcap silver juniors are seeing the most aggressive moves - and how sentiment, not fundamentals, is often the driver. Erik's strategy: focus on undervalued names with upside but avoid speculative trades based only on “greater fool” theory. Stocks on Erik's radar: With commentary on project quality, valuation, and risk. As Erik puts it, the junior silver space may be “the worst sector long-term,” but in the current bull market, it's showing some of the best short-term returns. Sentiment is surging, but caution is warranted.  Click here to visit Erik's site - The Hedgeless Horseman.  

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to review the value proposition that has his attention in the corporate news and strategies from 4 gold and silver exploration companies that have also seen participation from large strategic investors in their most recent financings.     >> The companies we discussed in the interview are:     Goliath Resources Ltd (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) Blackrock Silver Corp. (TSXV: BRC) (OTCQX: BKRRF) (FSE: AHZ0) Valkea Resources Corp. (TSXV: OZ) (OTCQB: OZBKF) First Nordic Metals Corp. (TSXV: FNM) (FNSE: FNMC SDB) (OTCQB: FNMCF) (FRA: HEG0)     * In full disclosure, some companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.   Click here to follow Erik's analysis over at The Hedgeless Horseman website

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins me for a bigger-picture and candid conversation around investor sentiment, disconnects in valuations that we are seeing  across the sector in most of the gold and silver stocks, but especially in the junior PM stocks.    We dive into how price assumptions used in economic studies and their associated Net Present Values (NPV) are so low and conservative that it is likely doing the industry overall a disservice and not reflecting anywhere close to the modern day reality in the metals prices or current project values. As a result most companies are trading at tiny fractional metrics of where they should be, and much of this stems from a shell-shocked sector trying to use very low 3-year trailing averages in underlying precious metals price assumptions, but it is almost to the point of absurdity when compared to today's spot prices.   On many corporate presentations, when looking at stale-dated economic studies, or even newer ones that have sensitivities tables, they have base cases still using $1,800 gold and $22 silver, and upside cases that only go up to $2,400 or $2,600 gold… or $24 -$28 silver.  If one is lucky enough to find sensitivity tables that go up to $3,000 gold or $30+ silver, it still doesn't even present investors with numbers on where the actual spot prices are in either metal at much higher prices. Erik makes the point that most of these presentations “upside cases” should really be their “downside cases.”     Metals prices have been at $3,200-$3,500 gold and solidly above $30 silver in the $32-$35+ range for many months now, but there are hardly any economic studies that even incorporate prices where they have been for some time, much less legitimate upside cases from here.   We point out that the mining industry doesn't really need to be optimistic, we just need companies to start being more realistic in where their intrinsic values are at present.  There is no other sector of the market that so deeply discounts its present value, or is stuck looking backwards at prices from 3 years ago, and the mining sector is not playing to it's strengths today.   If the sector wants to attract generalist investors, then it needs to at least show valuations of projects at the current metals prices in its sensitivity tables and use metals assumptions values that are not so far divorced from todays prices.   When you combine the recovering sector sentiment that is still not believing current metals prices are going stick, with ounces in the ground valuations still often in the $20-$60 range, and takeover premiums that barely move those metrics to over $100 per ounce, when the current producers margins are $1,500-$2,000 per ounce of gold, then it is an environment where we could still see big reratings higher if the metals prices just channeled sideways.  Erik highlighted that even if gold went down to $2,800, the good gold junior developers should probably still go higher just to catch up to valuations that even factor in those prices.   Click here to follow Erik's analysis over at The Hedgeless Horseman website

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins me to review the value proposition that caught his attention in the news from 3 earlier-stage gold, silver, and base metals exploration companies.  These explorers are going after drill targets on large potential Tier-1 deposits that would be of interest to senior producers if discoveries are made.    >> The companies we discussed in the interview are:   FinEx Metals Ltd. (TSX-V: FINX) Rackla Metals Inc. (TSX-V: RAK) (OTC: RMETF) Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF)     * In full disclosure, some companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.    Click here to follow Erik's analysis over at The Hedgeless Horseman website

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins me to review the value proposition that caught his attention in the news from 3 earlier-stage gold and copper exploration companies.  These explorers are going after drill targets on large potential Tier-1 deposits that would be of interest to senior producers if discoveries are made.    >> The companies we discussed in the interview are:   Inflection Resources Ltd. (CSE: AUCU / OTCQB: AUCUF / FSE: 5VJ) Westward Gold Inc. (CSE: WG, OTCQB: WGLIF, FSE: IM50) Kobrea Exploration Corp. (CSE: KBX) (FSE: F3I) (OTCQB: KBXFF)   * In full disclosure, some companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.  Additionally, Shad is a shareholder of all 3 companies at the time of this recording.   Click here to follow Erik's analysis over at The Hedgeless Horseman website

Published 15 June 2024We have rabbited on about this event for the years, the Stockholm Archipelago Raid. This year is a special edition, its the 25th running and they are doing the extreme course including a crossing to Finland. We reached out to Oscar Wetterling, a multiple participant and the last person to sink a boat during the race, (we think) to find out really what it is all about. Let us know if you would be keen to do it? Enjoy.#stockholmarchipelagoraid #f18 #catamaran #multihull #vaikobi #vaikobisail #radixnutrition #barkarate #sailingpodcast #barkarateconversations #worldsailingofficial #sailing #boat #ocean #sport #voile #sail #sea #offshore #sailors #sailingworld #extremesailing #foils #yacht #yachts #saillife #instayacht #sailingblog #instasail

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to review the value proposition and key takeaways from the recent site visit that he took to see the First Nordic Metals (TSX.V: FNM) (OTCQB: FNMCF) projects along the Gold Line Belt of Sweden.   We start off getting some of the nuances around using the collective wisdom of other institutional site visit attendees and various members of the First Nordic team on-site to get a better understanding of the various projects, key targets identified, exploration work underway, and what criteria other investors and analysts were weighting more heavily.   The conversation then turned to the underlying value in the 2.4 million ounces of gold defined so far in the Barsele Project, in a JV with Agnico Eagle.   Erik outlines that some member of Agnico Eagle were present at the site visit and outlined 7 drill targets they'd be going after for this year's exploration program.   We also discussed the amount of drilling focus that the Aida target has received at the Paubäcken Project, with many assays pending release from the lab, and some showing visible gold. When Erik was there the team finished up drill hole #38.   The exploration team at First Nordic has also done a lot of targeting work for upcoming drilling at the Harpsund target, and more targeting underway at the Brokojan target.   The Storjuktan Project is also seeing drilling get underway at the Nippas target, which has had a lot of targeting work completed thus far.  Additionally, there are several other regional targets at Storjuktan that different geologists and analysts were animated by, particularly Bråna to the south, due to mineralization that is outcropping at surface.   We wrap up discussing the financial health of the company to continue the ongoing 25,000 meter drill program across the Gold Line Belt.      * In full disclosure, some companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.    Click here to follow Erik's analysis over at The Hedgeless Horseman website  

I veckans program ska vi glänta på dörren till några konstnärsgarderober och titta närmare på hur deras kläder inspirerat inte minst modeskapare. Lyssna på alla avsnitt i Sveriges Radio Play. Det är inte bara själva konsten som satt fart på fantasin hos designers. Som Piet Mondrian hos Yves Saint Laurent, Salvador Dali hos Elsa Schiaparelli eller Andy Warhol hos Gianni Versace, bland många, många andra. Inspirerat har också deras kläder och personliga stil gjort.I programmet träffar vi galleristen och vernissageveteranen Björn Wetterling. Han har arbetat med några av de största namnen i konstvärlden och har en hel del att säga om hur det står till med kläder och stil bland konstnärer. Och så pratar vi med den brittiska modejournalisten Charlie Porter som skrivit boken What Artists Wear. I den undersöker han vad vi kan lära oss om konstnärernas liv och verk om vi rotar runt i deras garderober.

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins me to review the key investing themes and takeaways from the Atlantic One Investment Summit 2025 in Mallorca, Spain that he attended last week.   We highlight a few companies presenting at the conference where their value proposition caught his attention in light of their current assets and newsflow: Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) Amex Exploration Inc. (TSXV: AMX) (OTCQX: AMXEF) Blackrock Silver Corp. (TSXV: BRC) (OTCQX: BKRRF).*   * In full disclosure, some companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.   Click here to follow Erik's analysis over at The Hedgeless Horseman  

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins me to review the key investing themes and takeaways from the 2 TopShelf Partners conferences we attended last week:  the Commodities Global Expo 2025 in Fort Lauderdale, Florida; and then the Natural Resource Stocks Expo 2025 in Atlanta, Georgia.   Erik also highlights 11 different companies that caught his attention at the event either as portfolio positions, or new companies that he is doing more due diligence on.   This is a wide-ranging conversation that gets into gold, silver, copper, nickel, and critical minerals resource investing.   The companies discussed in the interview are: First Nordic Metals Corp. (TSX.V: FNM, OTCQB: FNMCF, Stockholm: FNMC SDB, Frankfurt: HEG0), Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP), Stillwater Critical Minerals Corp. (TSXV:PGE)(OTCQB:PGEZF)(FSE:J0G), Scottie Resources Corp. (TSXV: SCOT) (OTCQB: SCTSF) (FSE: SR8), West Red Lake Gold Mines Ltd. (TSXV: WRLG) (OTCQB: WRLGF), Denarius Metals Corp. (TSXV: DSLV) (OTCQX: DNRSF), Power Metallic Mines Inc. (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV), U.S. Gold Corp. (Nasdaq: USAU), Zeus North America Mining Corp. (CSE:ZEUS)(OTCQB:ZUUZF)(FRANKFURT:O92), Fairchild Gold Corp. (TSXV: FAIR), and Cerrado Gold Inc. (TSX.V: CERT) (OTCQX: CRDOF).     * In full disclosure, some companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.    Click here to visit Erik's site – The Hedgeless Horseman

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to discuss three junior gold exploration companies that have put out recent newsflow to the market; where he is attracted to their current value proposition.   Altamira Gold Corp. (TSXV: ALTA) (OTC Pink: EQTRF) announced May 5th the results of an independently assessed, maiden mineral resource estimate for the Maria Bonita porphyry gold deposit within the Cajueiro Project. Maria Bonita is a separate discovery, located 7km to the west of, and additional to, the Cajueiro Central Mineral Resource (previously reported under NI 43-101). The maiden open-pit resource consists of total Indicated Resources of 24.19Mt @ 0.46g/t gold (for a total of 357,800oz) and Total Inferred Resources of 25.64Mt @ 0.44g/t gold (for a total of 362,400oz). These resources include near-surface saprolite Indicated Resources of 2,02Mt @ 0.59g/t gold (for a total of 38,000oz) and Inferred Resources of 0.68t @ 0.40g/t gold (for a total of 8,700oz).   Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) announced May 5th that the world renowned JDS Energy & Mining Inc. has been engaged to assess the viability, permitting and development of an underground exploration adit at Surebet, at its 100% controlled Golddigger property, Golden Triangle, British Columbia. The Company has tasked JDS with an exploration adit to access a broad expanse of the gently-dipping, high-grade gold lode called the Bonanza Zone that sits approximately 200 meters above the valley floor. This adit will enable underground drilling of extensive parts of the overall Surebet lode system thus lowering drill meters required for advanced resource work, and potentially enable a longer drill season at the project.   K2 Gold Corporation (TSXV: KTO) (OTCQB: KTGDF) announced May 5th that the United States Bureau of Land Management (BLM) has released the Draft Environmental Impact Statement (DEIS) for K2's Mojave Exploration Drilling Project in Inyo County, CA. The BLM has also published a Notice of Availability in the Federal Register, opening the final 45-day comment period on the project. This is a key milestone for the company as they approach the end of the permitting process to commence drilling, and comes on the back of years of diligent environmental studies, community engagement, and collaboration with regulatory agencies.   * In full disclosure, the companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.  Additionally, Shad is also a shareholder of Goliath Resources at the time of this recording.   Click here to visit Erik's site – The Hedgeless Horseman

“If you just appreciate what this sector does once momentum gets started. Look at any historic junior chart, once momentum starts it just feeds on itself. What is weird is that it has not really happened; not even gold to three thousand [dollars] has been able to do that. I also think it points to how irrational this sector is. And it is all about momentum,” says private investor Erik Wetterling in this MSE episode. Erik, furthermore, shares his current views on the junior mining sector and how he is managing his portfolio. 0:00 Introduction 0:55 Junior mining value opportunities 5:53 When will gold stocks respond? 14:18 Fort Knox gold audit 18:42 Speculation in non-gold metals 21:54 Separating signal from noise 27:06 PDAC expectations 31:44 Networking necessity 34:21 Stock picks 39:17 Why retail loses money Erik's website: https://www.thehedgelesshorseman.com/ Sign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: http://eepurl.com/cHxJ39 Mining Stock Education (MSE) offers informational content based on available data but it does not constitute investment, tax, or legal advice. It may not be appropriate for all situations or objectives. Readers and listeners should seek professional advice, make independent investigations and assessments before investing. MSE does not guarantee the accuracy or completeness of its content and should not be solely relied upon for investment decisions. MSE and its owner may hold financial interests in the companies discussed and can trade such securities without notice. If you buy stock in a company featured on MSE, for your own protection, you should assume that it is MSE's owner personally selling you that stock. MSE is biased towards its advertising sponsors which make this platform possible. MSE is not liable for representations, warranties, or omissions in its content. By accessing MSE content, users agree that MSE and its affiliates bear no liability related to the information provided or the investment decisions you make. Full disclaimer: https://www.miningstockeducation.com/disclaimer/

Chad opens the hour speaking with the incredible Patty Wetterling before some talk about the ceasefire agreement between Israel and Hamas and a fun discussion about underrated TV shows.

Patty Wetterling joins Chad to share her message of immense despair after the loss of Jacob, hope, and the kindness and love she's shared with some many.

Special Guest: Sandy  This week Sandy and Lauren discuss the disappearance and the murder of Jacob WetterlingWeek 2: Most Wanted's Missing Children's SeriesSources:Jacob, Megan, and Pam: Federal Sex Offender Registration Legislation by David M. HegerAtlanta Journal-Constitution: Jacob Wetterling's killer gives-chilling details of abducted 11-year-old's final moment alive by Crystal BonvillianDanny Heinrich: “Long known to investigators looking into the Wetterling abduction, he originally denied connection to the case but now admits that he murdered Jacob and pointed authorities to his remains “by Madeleine Baran and Jennifer Vogel MPR News: "The Jacob Wetterling abduction" by Kirsti Marohn APM Reports: “The Jacob Wetterling Investigation TIMELINE OF EVENTS”WikipediaSupport us!Blue Grit Podcast: The Voice of Texas Law EnforcementHost: Clint McNear and Tyler Owen discussing topics, issues, and stories within the...Listen on: Apple Podcasts SpotifyDrink Moment | Moment Botanical WaterDrink your meditation. Use code MOSTWANTEDAMANDA at checkout!Kind CottonConsciously-sourced, inclusive, impactful, kind clothes. Use code AMOSTWANTEDPOD at checkout!Devon + LangLife changing underwear. Use code MOSTWANTEDAMANDA at checkout!Disclaimer: This post contains affiliate links. If you make a purchase, I may receive a commission at no extra cost to you.