Episode summary
This Gold Stock Surged 400% While Gold Fell, Here's How
The David Lin Report
· · 17 min · Hosts: David Lin · Guests: Byron Coulthard
Summary
BRS Resources’ CEO argued that junior miners can still create value in a weak gold tape by drilling, proving up assets, and advancing toward maiden resource estimates. He said the company plans to keep the drill bit turning at Silver Mountain in Mexico and Cow Trail in British Columbia, with the goal of converting promising geology into an estimate the market can value. The host framed the discussion around BRS’s roughly 400% year-to-date stock gain even as gold fell, and Byron Coulthard tied that move to treasury strength, location, and investor attention.
Coulthard said Silver Mountain is a gold-led project with copper and silver as byproducts, while Cow Trail is a copper-gold project. He pointed to nearby major producers in both districts, including Agnico Eagle and Alamos Gold in Mexico and Mount Polley near Cow Trail in BC, as evidence that the locations are mining-friendly and on trend. He said the company plans at least 30 holes at Silver Mountain and continued drilling at Cow Trail.
On valuation, Coulthard said he is modeling gold at $3,200 and believes the company can still make money even if gold falls to $3,000. He said BRS has over $10 million in cash, implying four to six years of runway, and argued that disciplined spending and exploration success are what can drive another rerating.
Key takeaways
- Byron Coulthard said BRS Resources is trying to create value by drilling both Silver Mountain in Mexico and Cow Trail in British Columbia into maiden resource estimates.
- He said Silver Mountain is a gold company with copper and silver byproducts, while Cow Trail is a copper-gold project.
- Coulthard said BRS has over $10 million in cash and estimated four to six years of runway, reducing near-term financing pressure.
- He said he is using $3,200 gold in long-term planning and believes the company can still be profitable even if gold drops to $3,000.
- He argued that mining stocks can offer more upside than bullion if the company proves up a larger resource and manages downside risk.
Notable quotes
“we intend to drill out uh the Cow Trail in Quinnel and we're going to drill out the Silver Mountain project in Mexico”
“we have both. I mean, Silver Mountain has all four. Uh Quinnel, we've got Copper and Gold”
“We are a gold company with uh copper and silver as a byproduct”
“we're at the beginning of a a commodity super cycle with everything that's going on right now”
How the episode opens
We may be in a commodity super cycle, but to understand gold and where it fits in the cycle, we need to understand what the miners are doing and look at their operations and how they're building value. One such company has defied the odds this year. In a year when gold is down, this company gained 400% year-to- date.
We're going to find out how that's possible, what happened, and what's next for the entire mining complex. Byron Colt joins us today. He's a CEO of BRS Resources and he's going to give us a snapshot of his company and his outlook and talk to us about his two deposits, one in Mexico and one in Canada.
This video is disseminated on behalf of BRS Resources. Welcome to the show, Byron. Good to see you.
Thank you for having me, David. Byron, how do developers and explorers build value to shareholders today in 2026 at a time when metals, gold in particular, have fallen off their highs, sentiment is a bit weak, and there's a lot of uncertainty around the world of investments.
Well, you can build it by drilling, by proving out your asset. um staying true to your beliefs and the core of the company which in our situation we intend to drill out uh the Cow Trail in Quinnel and we're going to drill out the Silver Mountain project in Mexico and we're going to prove out a proven resource there'll be maiden resource estimates for both projects.
Well, uh just give us just give us an idea before we talk about the project itself. Give us an idea of how mining is different today than when you first started. I can go to $4,100. You've been in this industry for a long time, decades, and clearly this is a very different environment.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- gold price outlook
- silver and copper
- commodity supercycle
- junior miner strategy
- mexico and british columbia projects
Companies and tickers mentioned
- BRS Resources
Watch the episode
Watch “This Gold Stock Surged 400% While Gold Fell, Here's How” on YouTube
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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