Episode summary
Gold & Silver Mining Stocks "Cheapest In 50 Years" | Jeff Clark's 13 Top Picks
Thoughtful Money
· · Hosts: Wolf Richter, Adam · Guests: Jeff Clark
Summary
Jeff Clark argues that the recent pullback in gold and silver has created a rare setup in mining equities, even as macro conditions remain unfriendly on the surface. He points to high yields, a strong dollar, and additional Fed tightening as near-term headwinds, but says gold is still rising alongside yields, central banks are still net buyers, China’s buying is accelerating, and global gold ETF inflows hit a record in Q3. He also says gold is closely tracking the 1970s bull market, implying substantial upside if that pattern continues.
On valuation, Clark says mining stocks are “cheapest in 50 years,” with the sector’s free cash flow yield at record highs and the group still near 2020 levels relative to gold. He frames the sector as a tiny slice of global markets, arguing that even a modest reallocation from cash or bonds could have a major effect on mining share prices.
Clark then breaks his picks into four risk categories: pre-discovery, pre-resource, resource builders, and developers. His highlighted names include Bullfrog Gold, Sankamap Metals, Auro Metals, Cascadia Minerals, Getty Copper, Rackla Metals, Sun Peak Metals, Pacifica Silver, A2 Gold, Banyan Gold, Mackay Gold and Silver, Newcore Gold, and Grande Portage Resources, with the common thread being prospective assets, drilling catalysts, and takeover appeal.
Key takeaways
- Jeff Clark says gold remains supported by central-bank buying, China’s 23-month buying streak, and record Q3 ETF inflows despite weak headlines.
- He argues mining stocks are “cheapest in 50 years,” with record-high free cash flow yield and sector valuations still near 2020 levels versus gold.
- Clark’s preferred setup is companies with near-term catalysts: first drill results, inaugural resources, resource expansion, or construction decisions.
- He highlights takeover potential as a major driver, especially for juniors in Nevada, Yukon, Ghana, Saudi Arabia, and Alaska.
- His top themes include copper, gold, silver, and tungsten projects with strong geography and visible drill programs.
Notable quotes
“the stock prices of the companies that mine them are now offering potential generational opportunities”
“I am staunchly bullish on gold and that behind the scenes under the surface there's a lot happening a lot percolating”
“mining equities are just 2% of global equities. It's the smallest level in 55 years”
“The catalyst is obviously making a discovery”
How the episode opens
Welcome to Thoughtful Money. I'm Thoughtful Money founder and your host, Adam Tagert. It's been a bruising couple of weeks for the precious metals.
Gold and silver prices are down now at their lows for the year. They've been battered so much that many precious metals analysts that I interview on this channel are saying that not only uh do the price values of the metals themselves look quite attractive down here, but uh some including Brian London say that the the the stock prices of the companies that mine them are now offering potential generational opportunities. So, I thought it might be a good idea to bring in the bonus video that we shared at our recent thoughtful money fall online conference and share it with you here publicly.
It's by Jeff Clark, mining analyst. He runs goldadvisor.com, the goldadvisor.com. And in it, he shares uh his latest overview of what's going on with the mining sector, but shares his top mining stock picks right now.
So whether you're totally new to the sector and want to learn more about it or whether you're an investor and are looking for companies to go investigate at these lower prices now, I think you're really going to enjoy this video. Hi everyone, this is Jeff Clark of the Pater Prospector and the goldadvisor.com and this is your bonus uh presentation, your bonus video as part of Adam Tagert's thoughtful money fall conference here in 2026. So, um I'm glad you're here.
I'm glad you joined. I've got a lot of uh what I hope is very useful information for you today about gold. uh some things you may not be aware of, some things may be surprising.
And of course, we're going to talk about my favorite subject, gold stocks and other metals as well.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- gold price lows
- silver price lows
- mining stock valuations
- central bank gold buying
- gold etf inflows
Companies and tickers mentioned
- Bullfrog Gold
- Sankamap Metals
- Auro Metals
- Cascadia Minerals
- Getty Copper
- Rackla Metals
- Sun Peak Metals
- Pacifica Silver
- A2 Gold
- Banyan Gold
- Mackay Gold & Silver
- Newcore Gold
- Grande Portage
Watch the episode
Watch “Gold & Silver Mining Stocks "Cheapest In 50 Years" | Jeff Clark's 13 Top Picks” on YouTube
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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Thoughtful Money, this episode and its artwork belong to Adam Taggart | Thoughtful Money. Octagon is not affiliated with the show; this page is an independent summary.
