Recorded on location at the Precious Metals Summit in Beaver Creek, Colorado (Sept 9–12, 2025).
I had five conversations with fund managers, analysts, and operators on where we are in the mining equity cycle, what outperforms from here, and how to avoid getting bucked off the bull. No fluff and no silly price targets. Just the real drivers of returns.
Experts
- Neil Adshead
PhD economic geologist, ex-Placer Dome, ex-Passport Capital senior mining analyst, former Sprott strategist, and Sprott U.S. portfolio manager. Now independent/consulting analyst and fund manager. - Greg Orrell
President & Portfolio Manager of OCM Gold Fund since 1996. Among the longest-tenured gold-fund PMs with 40+ years in precious-metals investing. - Joe Mazumdar
Now editor at Exploration Insights. Ex-sell-side senior mining analyst (Canaccord, Haywood), Strategic Planning & Corp Dev at Newmont, prior decade as exploration geologist across the Americas, Australia, and Canada - Brent Cook
Economic geologist, founder (2008) and Senior Advisor at Exploration Insights. Brent has done field/analysis work in 60+ countries. Former principal mining analyst with Rick Rule at Global Resource Investments. - Garrett Goggin
CFA, CMT. Founder/publisher of Golden Portfolio (incl. GP, GP10X, GPIV). Former Stansberry Research and Gold Stock Analyst precious-metals analyst (+15 years).
What you might learn by watching this:
- Cycle placement:
Are we mid-cycle or late? Signals that actually matter (breadth, financing quality, M&A cadence, margins, etc). - Metals outlook:
Gold, silver, copper, uranium, or something else? What has torque and what has durability? - Equities roadmap:
Producers, developers, explorecos, or something else? When do you rotate and when do you sit on your hands? - Capital & costs: Financing window quality, capex creep, labor/energy FX, and where cost curves break.
- Jurisdiction risk: How political risk is (mis)priced and where the catch-up trades live.
- Catalysts checklist: What must be true for rerates in Q4–Q2 (resources, de-risking, permits, offtakes, project finance).
Is the Mining Bull Market Almost Over? I asked 5 Experts in Beaver Creek
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