Gold above $3,000, silver over $35, and copper near all-time highs - this is the commodity bull market many investors have been waiting for. 

Brien Lundin, Editor of the Gold Newsletter and our host at the New Orleans Investment Conference joins us to share his outlook on the rally across precious and base metals and how it’s translating into momentum for the mining sector, especially junior stocks.

Brien discusses how recent tariff talk and ongoing geopolitical risk have added fuel to a move that’s already being supported by strong monetary fundamentals. Central banks continue to buy gold, and now western investors are starting to rotate into the space. With gold mining equities outperforming the metal itself, and juniors seeing increased access to capital, Brien believes the setup is in place for broader gains across the sector.

He also outlines how the strength in gold is expected to show up in Q1 earnings, with producers benefiting from significantly higher average prices. As generalist investors screen for performance, gold equities could be too strong to ignore.

We also discuss how Brien is positioning his portfolio, why he’s adding exposure to select juniors with strong resources or near-term catalysts, and his take on silver and copper stocks, which have yet to fully follow the underlying metals. He shares several company names currently on his radar and explains how he balances taking profits while staying exposed to the upside.

Click here to learn more about the Gold Newsletter.

Dean Besserer, President and CEO of Zeus North American Mining (CSE:ZEUS - OTCQB:ZUUZF - FRA:092) joins me for a company update focused on the Cuddy Mountain Project in Idaho, located adjacent to Hercules Metals’ Leviathan porphyry discovery. After a comprehensive 2024 surface program, Zeus has now defined a compelling copper-silver-moly porphyry target, supported by geochem and a large, high-chargeability IP anomaly starting at ~100 meters depth.

The anomaly spans a 3x3 km footprint, potentially extending up to 5 km northeast. The company is preparing for an 8-10 hole drill program expected to begin in late summer, pending permits. Dean outlines a $2-2.5M budget for the program.

We also discuss regional activity from neighbors like Hercules, Scout (private, recently raised $10M USD), and NexGold, plus ongoing dialogue with major mining companies.

Dean notes that drilling a porphyry system offers immediate visual confirmation, setting the stage for rapid follow-up if initial holes are successful.

If you have any follow up questions for Dean please email me at [email protected]. 

Click here to visit the Zeus North American Mining Corp.

Garrett Ainsworth, President and CEO of District Metals (TSX.V:DMX - OTCQB:DMXCF - Nasdaq First North: DMXSE SDB) joins me for a full update on recent exploration results from the Stollberg Project, part of the company's partnership with Boliden in Sweden. The March 26th news highlighted five drill holes totaling 2,465 meters, including a standout intercept of 11 meters grading 5.8% Zn, 1.1% Pb, and 20 g/t Ag.

This first-pass drill program hit wide, mineralized zones and successfully identified a new lens discovery in hole 154 - an untested area with no historical drilling. Downhole EM data has also revealed promising off-hole conductors to help vector future drilling. Additional targets remain open along strike and at depth, setting the stage for follow-up work in H2 2025.

We also discuss the ongoing drill program at the Tomtebo Project, where drilling is underway.

Looking ahead, District and Boliden plan to drill 7,000–8,000 meters across both projects this year, supported by a $3M CAD exploration budget. Additional drilling at Stollberg is planned for later this year across multiple target zones.

On the uranium front, Garrett provides a progress update on the Swedish uranium moratorium, which is on track for a parliamentary vote this September. Legislative changes could take effect in January 2026, but confidence in the outcome has led District to resume work on its uranium assets, starting with an updated resource for the Viken deposit in Q2 and fieldwork across the portfolio this spring and summer.

If you have any follow up questions for Garrett please email me at [email protected]. 

Click here to visit the District Metals website to learn more about the Company.

Segun Lawson, President and CEO of Thor Explorations (TSX.V: THX) (AIM: THX) (OTC: THXPF), joins me to review the optionality that being debt free with large margins from gold production is providing.  This is allowing the Company to increase exploration initiatives around the Segilola Mine, in Nigeria, as well as exploration activities at the Douta Gold Project, in Senegal.  We also discuss the ramp of exploration over at the Guitry Gold Project and exploration portfolio in Cote D’Ivoire.

Segun reiterated the 2025 guidance at the Segilola Mine is still on track for 85,000 – 95,000 ounces of gold production this year.  The Company anticipates very nice margins at the current $3,000 gold prices and a projected full year 2025 All-in Sustaining Cost (“AISC”) guidance of $900 to $1,000 per ounce.  We also reiterated the key company milestone in Q4 of the final and full repayment of the senior debt facility with Africa Finance Corporation (“AFC”). The Company now has no senior debt and has a net cash position in 2025.

The exploration team is busy with ongoing drilling around the Segilola mine, both at depth under the existing pit and also at surface delineating potential satellite pits to extend the mine life.  Any resource expansion will be very accretive as there will be no more material capex as the sunk costs have already been paid for, so this remains a key focus of the Company.

Transitioning over to the Douta Project, the RC drilling program last year was focused on increasing the percentage of oxide resources at the Makosa East Prospect, which runs parallel to the main Makosa mineralized trend and is ongoing. Then on March 24th, a press released announced that two discovery holes in its Douta-West license, at the Baraka 3 Prospect, returned 19 meters (m) at 2.46g/t Au from 29m depth, and 26m at 1.31 g/t Au from 21m depth.  Segun outlines that they have wanted to keep drilling this new Douta-West concession because it may be meaningful at the early part of the mining sequence, improve the payback and economics, and this will be factored into the upcoming Pre-Feasibility Study (“PFS”) and Mineral Resource Estimate, as the next major milestone for the company later this year.

Wrapping up we discussed the early stage exploration prospectivity and work planned later this year at their 100% interest in the Guitry Gold Project in Cote D’Ivoire. The exploration portfolio at the Guitry and Boundiali licenses will see the continuation of geochemical work programs and an initial drill program on identified targets.

If you have any questions for Segun regarding Thor Explorations, then please email them into me at [email protected].

*In full disclosure, Shad is a shareholder of Thor Explorations at the time of this interview.

Click here to follow the latest news from Thor Explorations

Taj Singh, CEO, and Adam Cegielski, President of First Nordic Metals (TSX.V: FNM) (OTCQB: FNMCF), join me to discuss their recent listing on the Nasdaq First North Growth Market in Sweden, diamond drilling at the high-priority Aida Target at their 100% owned Paubäcken Project, other key targets for this year’s 25,000 meter exploration program at the Harpsund (Paubäcken) or Nippas (Storjuktan) targets, recent analyst coverage, and their inclusion into the TSX Venture Top 50 companies.

We start off having Adam outline the significance of First Nordic Metals having been listed and now trading on the Nasdaq First North Growth Market in Sweden.   This attracts more liquidity into the stock, and it will stand out as one of the few gold stocks listed in country, which historically see solid participation from Swedish investors that want to invest domestically.

Next we shifted over having Taj outline the key 2025 exploration target areas of focus for this year’s 25,000 meter drill program across their 100% owned projects along the Gold Line Belt. At Paubäcken, there is one drill rig that has been turning since late February at the high-priority  Aida Target where 11 holes have been drilled to date.  

A second drill rig is going to be added soon that may keep expanding the work at Aida, or potentially test other Paubäcken targets like Harpsen, or it could be moved over to Storjuktan to test the Nippas target.  Additionally, the Company has completed a base-of-till, top-of-bedrock drilling program on the 100%-owned Klippen Project, located in the southern extent of the Gold Line Belt, where depending on results, it may also receive some drilling this year. Adam shares a bit more about some of the new targets the team has identified from geophysics surveys and BOT drilling, and just how big of a land position they control across this prolific mineralized belt.

We then shift over to recent analyst coverage from both Haywood Capital and Ventum Capital with price targets at multiples higher than where the stock is trading today. On February 20th the Company announced that it has been named as a 2025 TSX Venture 50 company; which recognizes the top 50 of over 1,600 TSX Venture Exchange issuers based on market capitalization growth, share price appreciation, and trading volume growth. Taj then wraps us up describing the larger company vision and 2025 work strategy.

If you have any questions for Taj or Adam, regarding First Nordic Metals, then please email them to me at [email protected].

Click here to follow the latest news from First Nordic Metals

Darrell Fletcher, Managing Director Commodities at Bannockburn Capital Markets joins me to share trading desk insights on the major commodity markets, copper, natural gas, oil, and gold, all moving under the weight of global trade tensions and policy uncertainty.

We begin with copper, which continues to quietly trade above $5.20/lb on COMEX, hitting all-time highs relative to the LME. Darrell highlights the widening US-global pricing gaps across copper, aluminum, and steel, all pointing to pre-tariff stockpiling and a structurally shifting US market. He notes that tariffs appear priced in almost 1:1, and the copper forward curve remains in contango, suggesting a sustained bullish structure.

On natural gas, Darrell sees a "guarded" market, with prices hovering near $4 amid disciplined supply, mild weather, and stronger-than-expected LNG demand. While storage remains 10% below the 5-year average, it’s not yet flashing a major supply crunch—but a hot summer could quickly change that balance.

Oil remains the quiet outlier, grinding below $70 with OPEC+ gradually returning supply and bearish sentiment weighing on the outlook. The $65 level is a key support zone, if broken prices could drop sharply.

Lastly, gold continues to outperform, holding above $3,000 and benefiting from growing global uncertainty and a lack of clear policy direction. Darrell notes it remains the one asset without counterparty risk, and in today’s environment, that makes it especially attractive.

Click here to learn more about Bannockburn Capital Markets.

Dave Erfle, Editor of the Junior Miner Junky joins me to break down the broad rally in precious metals and copper, with gold now holding above $3,000, silver over $34, and copper quietly pushing above $5.20/lb. We highlight gold’s parabolic breakout, noting it has risen in 14 of the last 18 months, and warns that technical indicators like RSI and MACD suggest the market is getting long in the tooth - even as momentum remains strong.

We discuss the potential for a healthy consolidation versus a blow-off move, driven by catalysts like Friday’s PCE inflation data or next week’s tariff decisions. Dave also outlines how AI and Bitcoin are fading as capital rotates into the gold sector, with miners outperforming the metal and quality juniors beginning to break out.

On copper, Dave links the recent price spike to tariff-related demand and highlights Arizona Sonoran as a standout name. While cautious about chasing, he’s adding selective copper exposure.

Dave explains he’s still in “be right, sit tight” mode but monitoring key levels like $43 on GDX and $55 on Newmont for signs of broader institutional interest. He’s also evaluating positions where share structures have weakened, preparing to shift into under-the-radar names with better upside potential.

Click here to visit the Junior Miner Junky website to learn more about Dave’s investment letter. 

Mike Burke, Director and VP of Corporate Development at Sitka Gold (TSX.V:SIG - OTCQB:SITKF - FRE:1RF) joins me to discuss the company’s March 18th news release and the first drill hole from its fully funded 30,000-meter drill program at the RC Gold Project in Yukon. Hole 75, totaling over 715 meters, returned a significant number of visible gold occurrences - 130 in total - and marks a 70-meter step-out from a high-grade interval drilled last year.

Mike explains how this early-season hole is targeting deeper mineralization below the current open-pit resource to test underground potential. Hole 75 showed more visible gold than previous holes, and Hole 76 is now underway to go even deeper, potentially past 800 meters.

Assay results for Hole 75 are expected by mid to late April. The company plans to ramp up with multiple drills in May, increasing news flow through the summer.

The market responded positively to the visuals, despite no assays yet, reflecting a stronger sentiment for gold stocks and early exploration activity. With gold over $3,000/oz and a large drill program underway, Sitka Gold is entering its most active exploration season to date.

If you have any follow up questions for Mike please email me at [email protected]. 

Click here visit the Sitka Gold website to learn more about the Company.

Craig Hemke, Founder and Editor of TF Metals Report, joins us to recap a standout Q1 for gold and silver, with gold holding above $3,000 and GDX at 12-year highs. He explains why this week could bring short-term volatility, driven by options expiry, contract rollovers, and end-of-quarter positioning.

We discuss the surprising strength in gold at $3,000, silver’s steady climb but lagging stocks, and copper pushing near record highs with little fanfare. Craig also shares thoughts on macro risks, political uncertainty, and why stagflation may be the path forward.

Click here to visit Craig’s website - TF Metals Report

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins me to dig into the implications and potential benefits to the US as a mining jurisdiction on the back of the new executive order from Trump issued on March 20th; titled “Immediate Measures to Increase American Mineral Production.” 

This executive order https://www.whitehouse.gov/presidential-actions/2025/03/immediate-measures-to-increase-american-mineral-production/ will utilize the Defense Production Act (DPA) to focus on sourcing more domestically mined, processed, or refined critical minerals and strategic mineral as a matter of national security.  There appears to be a joint effort between the U.S. International Development Finance Corporation and the Department of Defense to provide investment support, loans, and possibly grant for mining projects.  There is also an expedited priority on reviewing the permitting on projects seeking development from usual suspect metals like nickel and rare earths but also including gold, uranium, and aluminum.

Erik reviews a number of companies that have his attention in the US that may benefit including juniors like Integra Resources(TSXV: ITR) (NYSE American: ITRG), Stillwater Critical Minerals(TSX.V:PGE)(OTCQB:PGEZF), BCM Resources Corp (TSXV: B), and K2 Gold (TSX-V: KTO) (OTCQB: KTGDF).  We also note the potential impact on long-stalled mega projects like Northern Dynasty’s Pebble, Trilogy’s Rambler road access to the Upper Kobuk mineral project, or Rio Tinto’s Resolution Mine in Arizona.   We also discuss whether US projects will now get a premium, due to removing permitting bottlenecks or possibly providing government money to assist in the development of mineral projects. 

*In full disclosure, many of the companies mentioned by Erik in this interview, are positions held in his personal portfolio, and they 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