THESE Gold & Silver Stocks a Screaming BUY - 'More Bullish Than Ever': John Feneck and Don Durrett

Finance-Focused Summary (Gold/Silver Miners + Critical Minerals)

Macro / Market Driver Framing

• Both guests argue the recent sell-off in gold and silver miners is driven largely by the war with Iran, described as a “temporary phenomenon,” rather than a fundamental deterioration in the metals/mining sector.

Gold vs. Silver Leadership

• Don Durrett

  • Frames it as the “gold story” with silver as the “little sister.”
  • Believes silver is catching up and may underperform/overshoot relative to gold.
  • Cites relative declines:
    • Gold down ~28% to around $4,000
    • Silver down ~52%
  • Expects gold could make another lower low into midterms, but sees serious structural breakdown only if:
    • Gold drops below ~$3,000, and “probably below ~$2,800.”
  • Uses HUI (Gold/Silver mining index proxy):
    • Around ~615 vs prior ~989 (down ~38%)
    • Says it likely won’t fall into a “4-handle,” though low 500s are possible.

• Timeline / Seasonality Caution (Silver) — Durrett

  • If silver rallies within 1–4 weeks, he calls it possibly a “dead cat bounce.”
  • Then expects seasonality weakness from mid-August to mid-October, followed by another correction.

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Key Numbers & Explicit Market Levels

Gold / Silver Price Levels

• Gold: referenced around $4,000 (down ~28% per the discussion).
• Silver: down ~52%, with “catch-up mode” after running from roughly $35 to $120.
• Additional context:
  • Durrett references a prior low near ~$3,950.
  • Mentions gold bouncing near ~$4,200.
  • Silver’s key technical level: $50.

Bullish / Structural Breakdown Thresholds (Gold)

• Gold bull market breakdown viewed as:
  • < $3,000, and likely < $2,800

Silver Technical Levels

• $50 identified as a key breakout / all-time-high retest zone.
• John Feneck’s plan (silver):
  • Re-buy idea if silver cracks ~$50
  • Downside range discussed around ~$47–$50
  • Durrett also cited targeting around ~$48

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Mining Sector Index / Valuation Proxies

HUI (Mining Index Proxy)

• HUI ~615 vs prior ~989 (down ~38%)
• No expectation of a “4-handle” in the current correction
• Possible low 500s

ETF / Equity Pricing & Risk Ranges

• SILJ (small-to-mid cap silver miners)
  • Mentioned at ~$24.50 (vs ~$40 earlier)
• GDX (large-cap gold miners)
  • About ~$73 at recording
  • Support cited: ~$59–$61
  • Near-term upside cited: ~$93 to $100
  • RSI ~42.5
  • Preference: add more when RSI is in the 30s

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Portfolio / Positioning Recommendations (Methodologies)

Don Durrett: Speculative Tactical Framework (36–48+ Month Focus)

• Time horizon
  • Focus on 36–48 months (up to 60 months) targeting “5-baggers” rather than 1-year gains.
• Risk / “racetrack” mindset
  • “You can’t pick winners”—expect some positions to lose.
  • Keep “playing the next race.”
• Macro overlay / edge rule
  • Simplify to mostly one factor: gold and silver price trend higher.
  • If metals trend higher, odds favor the investor.

John Feneck: Silver/Gold Leadership + Technical Entry Logic

• Leadership rule
  • Gold leads; silver follows (silver “catching up”).
• Silver entry logic
  • After trimming earlier, he’s open to re-buying if breakdown/retest behavior confirms.
  • Specifically: if silver cracks ~$50, he expects it may not be long-lived.
• Gold/miners framework
  • Uses GDX as the large-cap proxy.
  • Adds only when technicals improve (notably preferring lower RSI ~30s).

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Instruments, ETFs, and Indices Mentioned

• SILJ (silver miners ETF)
• SLVP (large-cap silver producers ETF mentioned)
• SIL (larger-cap silver producers referenced)
• SLVR (silver miners ETF mentioned as an additional ETF)
• GDX (gold miners ETF)
• HUI (mining index proxy)

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Public Mining Companies Mentioned (Gold / Silver)

Silver (Development Stories / Company Names)

• SilverCrest Metals
  • SICO (Canada), SICOF (US)
• Black Rock Silver
  • BRC (Canada), BRRRF (US)
• Silver 47
  • AAG (Canada), AAGAF (US)

Silver (Quality Producers / “Elite” List)

• Coeur Mining
• Hecla
• Pan American
• First Majestic

Silver (Speculative Developer / Longer-Horizon Ideas: ~36–48 months)

• Honey Badger (Prairie Creek Mine acquisition mentioned; ticker not explicitly stated)
• Andean Silver (restart project; production targeted ~2028; ticker not explicitly stated)
• BMC Minerals (Yukon; silver-equivalent output cited; ticker not explicitly stated)
• Silver Storm (San Diego project; ticker not explicitly stated)

Gold (Producers / Developers)

• Equinox (Orla merger referenced; ticker not explicitly stated)
• Westgold (Australia; ticker not explicitly stated)
• SSR Mining
• 1911 Gold (production targeted Q4 this year; ticker not explicitly stated)
• Talon Metals / Talent score resources (Canada, British Columbia; ticker not explicitly stated)
• Next Gold
  • NXGCF (US), NEXG (Canada)
• Triumph Gold
  • TIGCF (US), TIG (Canada)
• Denarius Metals
  • DNR SF (US), DMET (Canada)

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Critical Minerals Theme: “US Critical Minerals” (Tungsten + Phosphate)

Tungsten Equities

• Western Star
  • WSR (Canada), WSRIF (US)
• Spartan Metals
  • W (Canada), SPRMF (US)
• Tungsten spot price context (no ticker):
  • Mentioned up ~8–9x YoY at one point
  • YTD ~920 to ~2800 (units not specified)

Phosphate (LFP / Battery-Related Mention)

• First Phosphate
  • PHOS (Canada), FRSPF (US)

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Company Financial / Operational Figures Cited

• Next Gold (NXGCF / NEXG)

  • ~7 million ounces of gold discussed
  • Production timing implied as ~3 years from now
  • Also noted potential flexibility to pivot into projects

• Silver Storm (San Diego project)

  • Project size cited as ~100 million (likely ounces; unit not explicitly clarified)

• BMC Minerals (Durrett)

  • Mine expected to produce ~32.2 million oz silver equivalent “out the gate.”

• Western Star (tungsten)

  • Nevada property grades cited:
    • Historical grades > 3.3% tungsten
    • Average grade ~0.2–0.3%
    • Described as about ~10x higher than average

• SilverCrest

  • Mentioned future target: “millions of ounces per year” in about ~2 years

• Black Rock Silver

  • Construction next year
  • Production probably following year
  • AISC described as “extremely low vs peers” (numeric value not provided)

• Triumph Gold

  • ~2 million ounces with potential to reach ~3 million ounces within next year
  • Mentions other commodities on property: tungsten and antimony
  • Notes last PEA in 2013 (timing context)

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Performance Metrics & Technical Indicators

• Relative drawdowns
  • Silver down ~52%
  • Gold down ~28%
• HUI drawdown
  • Down ~38% from ~989 to ~615
• GDX
  • Support: $59–$61
  • Target: $93–$100
  • RSI: ~42.5
  • Add preference: RSI in the 30s
• SILJ valuation comment
  • Described as “ridiculous valuation” at ~$24.50 (vs ~$40 earlier)
• Repricing / “real price vs old price” framing
  • Stocks have repriced; the key question is whether $X was “real” or $Y is “real”

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Disclosures / Disclaimers Mentioned

• No explicit “not financial advice” wording appears in the provided subtitles.
• However, Durrett explicitly frames mining investing as speculative, likening it to gambling, with an emphasis on expecting losses.

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Presenters / Sources Mentioned

• Don Durrett
• John Feneck
• Host mentioned as Jesse (not otherwise identified)
• Additional referenced entity:
  • OpenAI (used as an example of unclear ROI timeline; not an investment recommendation)
• Sponsor/owner mentioned:
  • Ark Silver Gold Osmium (owner Ian Everard)