Allan Barry Laboucan

Lab Report | Oct 6 Deep Dives on Sterling, Contango, Banyan, and Argenta

• Top takeaway He profiles four juniors as undervalued for what they control, calling Sterling Metals and Argenta Silver undiscovered gems at current valuations, Banyan a likely takeover target, and Contango a free-cash-flow platform with room to become a mid-tier.
• His recurring analytical rule is that grade plus continuity, not grade alone, makes a deposit - citing Sterling's hole-to-hole continuity and Argenta's 100m step-out hit as proof points.
• He is extremely bullish on the long-term copper market on weak supply and growing demand, and also expects silver prices to strengthen.
• He pushes a chase-the-source exploration method: find the feeder porphyry behind Sterling's horizontal high-grade layer and the lurking porphyry next to Argenta's silver system.
• He repeatedly ties weak volumes and muted news reactions to poor digital marketing, saying Sterling and Argenta need to reach a broader audience, and reminds viewers he makes no buy or sell recommendations, only homework ideas.

Sterling Metals' Sioux project near Batchewana Bay, Ontario delivered 44 metres of 1.02% copper equivalent (all metals valued as copper grade) from near surface. Host Allan Barry Laboucan argues grade plus continuity — not grade alone — decides whether a discovery can realistically become a mine. Contango Ore pairs roughly $100 million of yearly free cash flow from its 30% Mancho stake with very high-grade Lucky Shot drilling in Alaska. Banyan Gold's 1.88 g/t gap-zone hit (grams per tonne — metal weight per tonne of rock) hints its two Yukon zones form one bigger pit. Argenta Silver's broad 46-metre gold-copper intercept points to a porphyry (the deep intrusion that feeds epithermal silver veins) near its 50-million-ounce resource.

Lab Report | Oct 1 Deep Dives on Vizsla, Gen Mining, Nine Mile, and Four Nines Gold

• Top takeaway Top point: he presents himself as squarely bullish on Vizsla Copper, saying the platform's read of investor sentiment is strongly bullish and that he is 100% in agreement, citing high-grade drilling, exploration catalysts, management quality and long-term copper demand.
• He argues the negative themes on Vizsla — dilution, financing needs and the terms of the Agnico Eagle deal — are misplaced, because CEO Craig Perry has no trouble raising capital and will do it in a way he thinks benefits the share structure.
• He disputes the critique that Vizsla's share price has lagged strong copper prices, pointing out that management is not chasing short-term blips and instead has several projects to advance at once.
• On Nine Mile Metals he argues the roughly $28 million valuation is too low for a company holding more than one high-grade target in the Bathurst VMS camp, while disclosing he is a shareholder and wants the company to hit hard.
• He cautions that exploration target rankings can change quickly, noting he thinks Tri-Bag targets one and two are the current priorities but that any target could move to the top once drilled.

Vizsla Copper's Palmer project in Southeast Alaska returned high-grade silver, gold and zinc, including a hole hitting 17.69% zinc equivalent. VMS (volcanogenic massive sulfide) deposits can carry several payable metals at once, and Vizsla's AG zone pairs silver and gold with solid zinc grades. Nine Mile Metals added a second rig at its Wedge VMS project in New Brunswick, letting it drill exploration targets while the 2026 program continues at the Wedge mine. Laboucan argues the Bathurst camp is legitimate elephant country, and says a $28 million valuation understates Nine Mile's multiple high-grade targets. Readers should discount the Generation Mining and Four Nines Gold segments — the transcript repeats filler text there, so no substantive news for them comes through.

Lab Report | Sep 30 Deep Dives on ICG, Arizona Gold & Silver, and Hercules

• Top takeaway The host's core macro thesis is a 'broken fiat currency and debt system' — US$40 trillion of US debt, yields at or above 5%, and debt-servicing costs exceeding military spending — leading him to conclude 'all roads lead to gold' and to expect gold near or above $5,000 by end-2026 from around $4,000-4,200 as of the show.
• He is 'extreme bullish' on gold, silver and copper equities, arguing miners are priced as if gold were under $2,000/oz and copper at $4 even as copper sets record highs he expects to push 'well over $7' within a few months.
• He rejects the consensus M&A-wave narrative: majors are too big to buy each other, so he expects them and mid-tiers to instead take positions in explorers and developers with important discoveries.
• His Lassonde-curve calls on the episode's names: ICG is priced like a concept despite a real discovery (C$19 million cap), Arizona Gold & Silver sits about 25% into his pre-curve 'sweet spot' ($88 million cap), and Hercules is roughly a third of the way up the left side at about $450 million.
• He also plugged his new C$20-per-month private CEO.ca channel, where he discusses Lab Report names with members during the trading day.

A takeover wave looks unlikely: majors are too large and targets too scarce, so expect equity stakes in juniors rather than mergers. ICG Silver & Gold hit 24.3 metres of 10.14 grams per tonne gold in Nevada; its C$19 million market cap still prices it as a concept. Arizona Gold & Silver keeps hitting gold-rich breccia at Philadelphia; the payoff comes when drilling reaches the boiling (bonanza) zone of the epithermal vein. Hercules Metals extended its Southern Flats porphyry copper hit in Idaho; George Ogilvie's new team must justify a $450 million valuation with deeper drilling. With 30-year yields near 5.5% and war-driven inflation, the host stays extremely bullish on gold, silver and copper equities.

Lab Report | Sep 28 Deep Dives on NevGold, Equinox, Sirios, Ashley, and Emperor Metals

• Top takeaway Runs the episode through his Lassonde Curve framework: a published resource drops a company into the development discount window, so he hunts for stories that can climb the left side with discovery.
• Argues Nutmeg Mountain's roughly 1.2-million-ounce open-pit resource is evidence of feeder structures below, and wants angled holes under the pit chasing high grade rather than relying on geophysics alone.
• Contends Equinox, post-Orla, is on the grow-and-replace trajectory of aggressive drilling, reserve replacement, and mine-life extension that separates lasting majors from depleting ones.
• Insists market cap is all that matters, so Sirios' share rollback and Ashley's penny-stock price do not change the math he cares about.
• Repeatedly argues juniors should pair low-grade open-pit plans with deep high-grade feeder discoveries to excite investors and lower their cost of capital.

High-grade hits below and beside known resources, NevGold feeders, Sirios margins, and Emperor deep shoots, drive the next re-ratings. The Lassonde Curve, a mine developer's typical share-price lifecycle, warns that publishing a resource puts juniors in a development discount window. Equinox Gold's Orla acquisition and 45-rig, 308,000-metre drilling program show majors must replace mined ounces through exploration to keep growing. Chasing high-grade feeders under low-grade open pits can excite the market, cut financing costs, and limit dilution for juniors. Judge juniors on market cap, not share count: rollbacks and warrant pressure matter less than discovery and valuation potential.

Lab Report | Sep 28 Daily Market Overview & Deep Dive on Banyan, Blackrock, Ashley, and Gladiator

• Top takeaway His macro call is that gold, silver and copper are dramatically oversold and he would rather own them than dollars or bonds, arguing the broken debt system will force quantitative easing sooner than anyone expects.
• He attributes the Sept 28 gold selloff to the lack of a Middle East ceasefire pushing Brent and WTI up, and to a bond rout with the 30-year yield near 5.5 percent, driven by heavy debt supply, the debt-funded AI build-out competing for capital and possible Japanese selling as the yen carry trade unwinds.
• He repeatedly pushes investors to look at where gold actually sits inside a drill hole rather than at headline intersection length, using Ashley Gold's 60-metre result as the example of a narrow high-grade core inside three veins.
• He extends the Lassonde curve with higher 'green sweet spot' peaks for world-class systems, and argues Banyan Gold could be worth C$1-3 billion once feasibility work confirms the scale, against a market cap he puts near $857 million.
• He is sceptical of juniors that rush to a resource estimate and straight to a PEA, saying that drops them into the development discount window before they have re-rated - his stated worry about Gladiator Metals, which he still has on his radar to watch.

Four junior explorers reported news; the host walks through drill core himself instead of trusting headline intersection numbers. A royalty company funding a junior's financing signals confidence, and nearby road access stretches the Yukon field season. A 60-metre gold intersection can shrink to three narrow veins underground, which is the episode's core geology lesson. He cautions that rushing into a resource estimate and PEA can trigger the development discount before a deposit's limits are known. Macro wrap: rising bond yields compete with non-yielding gold, and he sees precious metals oversold on that trade.

Lab Report | Sep 24 Daily Market Overview & Deep Dive on Meridian, Nine Mile, and Algo Grande

• Top takeaway He argues a 'perfect storm' is building for gold, silver and copper — calling QE inevitable and closer than people think — and that miners, developers and explorers are still valued as if gold were $2,000 or less, silver $35 or less and copper $3 or less, making metal stocks a tremendous opportunity.
• He judges projects on IRR and payback rather than NPV, and says Meridian's roughly 108% IRR, US$322 million initial capital and sub-one-year payback (about 0.7 years at spot prices) should let it be financed mostly with debt on good terms.
• He applies a Lassonde curve lens to all three companies: Meridian sits in the development-phase sweet spot with a move up the right side ahead, while Nine Mile and Algo Grande are wrongly priced as pure concept stocks with large left-side potential.
• He discloses he is a Nine Mile shareholder and calls its C$20 million valuation extremely cheap for 5%-plus copper equivalent intercepts in the Bathurst Mining Camp.
• His macro read as of the taping: Wall Street stocks have topped with the Dow breaking below its 50-day average, WTI crude recently over $100 a barrel on war tensions, and yields being pushed up by inflation and roughly $40 trillion of US debt against $350-plus trillion of global government debt.

Meridian Mining's Cabo feasibility study delivers a 108% IRR and roughly nine-month payback, pointing to a potentially very high-margin gold-copper mine. Nine Mile Metals reports 5.09% copper equivalent over 14.15 metres in the Bathurst mining camp, with grades strengthening at depth. Algo Grande confirmed 68 metres of copper-silver-gold mineralization across two Sonora skarn zones, suggesting a multi-horizon system with vertical continuity. The host uses the Lassonde Curve (a junior mining valuation lifecycle model) to argue Nine Mile and Algo Grande are priced like pure concepts. The host expects quantitative easing to drive gold, silver, and copper sharply higher while miners remain valued at far lower metals prices.

Lab Report | Sep 23 Deep Dives on Cambria, Andina, Inventus, Blackrock, and Dryden Gold

• Top takeaway His framing for the show is that these names are no longer drill-result stories: he places both Cambria and Blackrock Silver in the development-discount window, so the catalyst that matters is progress toward production rather than assays.
• He argues repeatedly that project economics change with the metal price — half a percent copper looks high grade at close to $7/lb and about 5 g/t gold at the current price is worth roughly $650 per tonne of rock — and that the market has not updated the metrics it uses to judge projects.
• On Dryden Gold he says the story is all about chasing high grade to depth, uses the Red Lake precedent he calls legend-making once a system reaches its bonanza zone, and considers a roughly C$64 million valuation very cheap for what the company has.
• On Inventus he is openly enthusiastic about a shallow conglomerate that makes money in bulk sampling and calls it underloved at about C$60 million, while on Blackrock Silver he is more cautious, saying the shares look fairly valued and that epithermal drilling has lost its market-moving power.
• He spends much of the show rebutting common investor complaints as noise — profit-taking, promotional coverage, private placement selling, market manipulation on down days only, thin news flow — argues that both positive and negative signal matter, and repeats that he is an idea generator rather than the source of buy or sell recommendations.

Cambria's Premier infill drilling, which fills gaps between old holes, confirms high-grade continuity; the host values it on restart and dilution risk. Economic grade thresholds move with metal prices: at nearly $7 a pound, half a percent copper now reads as open-pit material. Inventus bulk samples turned a small profit on each of two shipments, an unusual result that understates what full-scale mining could earn. Blackrock Silver is no longer a drill-result story; at a $450 million valuation it is a permitting and development case on private Nevada land. Dryden Gold's discovery has been drilled only in the top few hundred metres, so the host sees depth potential rather than an open pit.

Lab Report | Sep 21 Deep Dives on West Red Lake Gold, Copper Giant, Power Metallic, and Kingsmen

• Top takeaway His core call is patience on West Red Lake Gold: he wants to see mining reach the unmined 904 and 955 ground before judging the stock, and expects that wait to run into 2027.
• He is bullish on Copper Giant, saying few undeveloped projects of that size remain in the pipeline and the world needs a much higher copper price to bring them into production.
• He argues Power Metallic put the cart before the horse by publishing an MRE before finishing drilling, which has left it in the development discount window and limited its rise on the left side of his Lassonde curve.
• He likes Kingsmen Resources and calls the roughly C$40 million valuation very modest for the grades being found, but says he needs more drilling before sizing the potential.
• His recurring framework is his updated Lassonde curve — Copper Giant sits beyond the left side moving toward feasibility and development, while Power Metallic is inside the development discount window and Kingsmen is still near the start of the left side.

Grade without continuity bankrupts mines, so Madsen's turning point is reaching never-mined ground below the old workings, likely in 2027. West Red Lake Gold's all-in sustaining cost of US$3,284 per ounce sits far above the US$2,000 most operations target, keeping financing pressure on. Copper Giant's 12.7 billion pounds of copper equivalent in its Mocoa resource is rare at this scale, and copper near US$7 per pound supports it. Power Metallic's resource estimate pulled it into a valuation discount window, where investors may ignore good drill results until a PEA clears it. Kingsmen Resources' 218 grams per tonne silver equivalent over 6.5 metres matches the widths that make Mexican epithermal veins economic.

Lab Report | Sep 21 Deep Dives on Amex Gold, Radisson, Kingfisher, and Nine Mile Metals

• Top takeaway He states his view that the gold price is going a lot higher, which is why he brushes off market and commodity-price headwinds across all four companies covered.
• He plots each company on his Lassonde curve: Amex in late-stage development, Radisson on the left side with room to reach a $1 billion valuation, Kingfisher early in elephant country, and Nine Mile still conceptual.
• He argues against takeovers of Amex and Radisson, saying the short-term premium is a sugar rush compared with letting high-grade assets grow the juniors into multi-billion-dollar companies.
• He discloses he is a Nine Mile shareholder and expects a significant breakout once cheap private-placement paper from 2025 and earlier is absorbed.
• He cautions that calling for a resource estimate at Nine Mile this early puts the cart before the horse, and stresses viewers should do their own homework since he is an idea generator, not an adviser.

Amex pushes Perron toward production: the dual-purpose decline serves a 40,000-ton bulk sample and phase-one mining, pulling development capital forward. Radisson keeps expanding bonanza-grade gold beneath the historic O'Brien mine — 68.24 grams per tonne over 6.2 metres — with Red Lake-style depth potential. Kingfisher hits visible gold beside its Hank porphyry — the heat engine of such systems — 8.8 metres of 20.33 grams gold plus silver and zinc. Nine Mile Metals drills two high-grade VMS zones (volcanogenic massive sulphide — metals deposited by ancient seafloor volcanoes) at the historic Wedge mine in New Brunswick. The host plots each junior on the Lassonde Curve — a stage map of mine development — weighing community sentiment, financings and strategic backers like Agnico Eagle.

Lab Report | Sep 17 Deep Dives on Banyan, Nuvau, Dryden, and Norsemont

• Top takeaway He argues Banyan Gold will likely be taken over, possibly for north of $2 billion and fairly quickly, with the maiden PEA due in Q4 as the catalyst.
• He is most excited by Nuvau's high-grade Abitibi drilling but presses management to communicate consistently instead of going silent between assay releases.
• On Dryden he wants one strategic change: stop spreading drilling wide and test the 300-600 m depth of the modeled veins at Gold Rock.
• On Norsemont he says the order of operations is inverted: near-surface oxide production and resource growth should come first, with deep porphyry holes funded by production later.
• He debuts a new Lab Report format, walking each company through its news release, a CEO.ca Pro sentiment read-out, then a Lassonde Curve placement.

Host argues orogenic gold systems (deep-rooted vein systems) reward drilling to depth, citing Goldcorp's Red Lake bonanza zone found a thousand meters down. Banyan Gold's wide, low-grade Yukon intercepts fit open-pit economics; its maiden PEA (first look at project economics) is due in Q4, fueling takeover talk. Nuvau's high-grade Abitibi drill hits impress, but the host says sporadic updates hurt it: consistent news releases and interviews keep a company fairly valued. Dryden Gold's visible gold at Mud Lake North backs the host's call to stop widening its footprint and drill the 300-to-600-meter depth potential. Norsemont hit 41 meters grading 4.59 grams per ton of gold in Chile, yet the host wants near-term oxide production prioritized over deep porphyry drilling.

Lab Report | Sep 16 Deep Dives on Generation, Contango, Goliath, Sterling, and New Found Gold

• Top takeaway His top point on Sep 16, 2026 is that the five companies he covered look mispriced: he flags Gen Mining, Contango, Goliath and Sterling as under-valued and New Found Gold as fairly valued for now with the upside tied to timing.
• He uses the Lassonde curve as his decision framework, placing each company on it by phase, and says Goliath's tier one high-grade gold system could be worth $1-2B rather than its roughly C$263M valuation.
• He argues copper economics have changed, noting that in the 1990s a project without 1% copper drew no interest when copper traded around $0.60 a pound, while open-pit porphyry targets are now developed at about 0.3% copper equivalent with copper near $6.50 a pound.
• He says he uses his 32 years in mining to highlight the news releases that stand out to him, and that he is not making buy or sell recommendations but telling viewers to speak with a financial advisor and do their homework.
• He promotes CEO.ca as the place he uses for that homework and criticises investing on rumours rather than data.

Generation Mining closed roughly $340 million of final funding for its Ontario copper-palladium project, with Glencore buying the concentrate for domestic processing. Contango's 2026 drilling sits outside its resource update, so connecting the Torbret and North Star silver zones would add unpriced ounces. About 90% of Goliath's Sherbet drill holes returned visible gold, a footprint Laboucan reads as a candidate tier-one high-grade system. New Found Gold cleared commercial production at Hammerdown in Newfoundland on throughput, recovery, and head-grade tests sustained for 60 days. Sterling's 0.81% copper-equivalent core (all metals priced as copper) near Batchawanna Bay matters now that copper trades near $6.50 a pound.

Lab Report | Sep 10 Daily Market Overview & Deep Dive on Goliath, AMEX, and Talon

• Top takeaway He argues stagflation, a $40 trillion US debt spiral and falling bond prices make a 'perfect storm' that will push gold, silver and copper much higher, with explorers, developers and miners as the best-leveraged plays.
• He contends copper is heading to $10 and will stay there, since a demand surge cannot be met by struggling existing mines or new projects for the next twenty years.
• He argues explorers should delay resource estimates because they open a 2-5 year 'development discount window' that backstops valuations lower 95% of the time or more.
• He names Goliath one of his highest-conviction high-grade gold picks of recent years, credits Amex with showing how to exit the discount window, and expects Talon could draw a premium buyout within a year.
• He calls official inflation figures of about 3% manipulated, pointing to 30-year Treasury yields heading toward 5.5% and the 10-year touching 5% as the bond market pricing higher real inflation.

Structural hinges between sediment- and volcanic-hosted vein sets are handing Goliath Resources well-prepared rock for bulk underground mining scenarios. Resource estimates in high-grade systems must be ultra-conservative under NI 43-101 (Canada's mineral disclosure rules), hammering stocks — Amex recovered by fast-tracking a bulk sample. Talon Metals' 46.43-metre vault zone hit carries platinum, palladium, and gold grades rich enough to cover its nickel, copper, and cobalt costs. Bond yields approaching 5.5% against reported 3% inflation tell the speaker the bond market disbelieves official statistics — a perfect storm for gold. Most drilled anomalies shrink, but mines grow with more drilling — Goliath's wide step-outs keep expanding, the signature the speaker reads as a future mine.

Lab Report | Sep 8 Deep Dive on Luca, Power Metallic, Arizona, Sun Peak

• Top takeaway His recurring thesis on the show is that grades alone mislead: investors should judge where a project sits in its system and whether the model hangs together and keeps expanding as drilling continues.
• Argues NI 43-101 and CIM estimating rules force ultra-conservative, grade-capped resource models in high-grade systems like Power Metallic's Lion zone, understating what is actually in the ground and raising companies' cost of capital.
• Criticizes multiplying contained metal by the spot price (the '$3.2 billion of copper in the ground' framing) and companies rushing into resource estimates, which lands them in the Lassonde curve's development discount window.
• Bullish on copper as of the Sep 8, 2026 show: nearly $7/lb and, in his view, heading to $10-plus within a couple of years, which lifts valuations across the Lassonde curve's later phases.
• Plots the four companies on the Lassonde curve (Luca in the right-side sweet spot, Power Metallic entering phase 3, Arizona halfway into the left-side sweet spot, Sun Peak at concept stage) while stressing he is only an idea generator, not making buy or sell recommendations.

Drill programs at Luca Mining and Sun Peak Metals show systems that hang together and grow — continuity the host weights above headline grades. Power Metallic's maiden Lion zone resource — 85% indicated, 406 million pounds copper-equivalent — is likely understated because NI 43-101 rules favor low-grade deposits, the host argues. Rushing into resource estimation drops a junior into the Lassonde Curve's development discount window — the trade-off Power Metallic just accepted. Arizona Gold & Silver infill drilling hit 90 meters at 1.45 g/t (grams per tonne) gold at Philadelphia, and Evolution Mining's investment expanded drilling to 24 hours. Sun Peak drills VMS (volcanogenic massive sulfide — volcano-deposited metal lenses) in newly opened Saudi Arabia, with intercepts open at depth and clusters to test.

Lab Report | Sep 3 Daily Market Overview & Deep Dive on Vizsla Copper, Errington, SXGC

• Top takeaway Argues the fiat currency and debt system is broken — a 'death spiral of debt' with US debt servicing costs over $1 trillion heading toward $1.5-2 trillion within 4-5 years — so investors should own gold, silver, copper and other commodities, best accessed through mining stocks that have not yet entered the bull market.
• Sees copper on its way over $7 per pound but believes more than $10 per pound is needed to incentivize the exploration and mine development demanded by AI, electric vehicles, robotics and cloud computing.
• Thinks silver is going a lot higher, calculating that at roughly $65 silver some Errington intercepts carry a couple hundred dollars per ton of silver value that could pay mining costs.
• Reads gold's chart as bullish as of the Sep 3, 2026 show: a recent triple bottom, breaks of the 50-day and 200-day moving averages, and possibly a month or less from a golden cross that takes it over $5,000 and toward the all-time high made earlier in 2026.
• Points to rising bond yields worldwide amid massive debt supply and notes even Wall Street analysts now suggest about 20% of the old 60/40 stock-bond mix in gold — a level he still considers too low.

Vizsla Copper hit 49.2 metres of 4.7% copper equivalent at Palmer, including 27 metres of 8.4% — standout VMS (volcanogenic massive sulphide) grades. Errington Metals' initial 2026 results keep its main zone open at depth, with silver values adding meaningful per-tonne rock value. Southern Cross Gold's $3.29 billion valuation reflects its 'Fosterville 2.0' gold-antimony story and the host's view it is a takeover candidate. A day of 3-5% rallies in gold, silver, and copper reinforces the host's case for commodities over bonds in a strained fiat-debt system.

Lab Report | Sep 2 Deep Dive on Radisson, Pirate Gold, KLDC, Amex Gold Mining, Contango

• Top takeaway Top takeaway: the host dropped his usual market overview to run five deep dives — Radisson, Pirate Gold, Kirkland Lake Discoveries, Amex and Contango — and argues all five are undervalued relative to what the drilling shows.
• On Radisson he says high grade with continuity could build a $10-billion-plus company, and on Pirate Gold, where he discloses he is a shareholder, that the project is on the doorstep of being an overnight success story like Vicuña.
• He frames Amex and Contango as 'unicorns' whose valuations do not reflect asset quality, and calls the high-grade vein potential at Kirkland Lake Discoveries a company changer.
• His macro anchor for this show is gold, silver and copper ready for their next rallies, and he warns that many cut-off and grade rules of thumb date from $1,500 gold and no longer hold at $4,500-plus.
• He closes by stating he is an idea generator rather than a source of buy or sell recommendations, and that viewers should do their own homework.

Laboucan's filter is grade plus continuity: a high-grade hit only matters when the system keeps returning it as drilling advances. Radisson's 52.34 grams-per-ton gold hit over 3 meters in Quebec, and he plots it only 30% up the Lassonde curve. Pirate Gold's 299 meters of copper-equivalent mineralization after fewer than 15 holes points to a large, still-unresolved porphyry. Kirkland Lake Discoveries held the same gold system 700 meters west, which Laboucan values as more meaningful than the headline grade. With gold above $4,500 an ounce, cut-off grades and open-pit economics reset, and Laboucan argues old rules of thumb undervalue every project here.

Lab Report | Sep 1 Daily Market Overview & Deep Dive on Radisson, Omai Gold, Cascadia

• Top takeaway The host argues generalist investors are over-exposed to stocks and bonds and under-invested in gold, silver, copper, and commodities - his core message on the show.
• He frames the bond market as the key trend: 10-year yields near levels last sustained before the 2008 crisis, US debt past $40 trillion, and interest costs above the defense budget, which he calls unsustainable.
• He treats Agnico's $57 million investment as a strong endorsement of Radisson's high-grade O'Brien system and its depth potential.
• He views Omai as trading at about 0.3 of its PEA net present value as of the video and says a takeover offer could come at any time.
• He expects copper to reach $7-plus per pound before year-end and places Cascadia attractively on his bull-market version of the Lassonde curve.

Agnico Eagle's $57 million strategic investment gives Radisson a strong vote of confidence, taking the major to roughly 10.45% ownership of the Quebec gold junior. Radisson sits a third of the way up the Lassonde Curve (the value path from discovery to production), where tier-one high-grade peaks reach $1-2 billion. Omai Gold's Guyana project delivered 5.12 grams per ton over 40.5 meters, and an 86% resource increase supports a 350,000-ounce-per-year mine plan. Cascadia hit sulfide mineralization 300 meters beyond its CarMax resource, reinforcing the host's case against rushing resource estimates before defining a system's limits. Rising US debt costs and bond-market stress favor gold and silver, and the host argues generalist investors remain under-exposed to commodities.

Lab Report | AUG 31 Daily Market Overview & Deep Dive on Goliath, Pirate Gold, Decade, Dryden Gold

Four junior explorers reported high-grade gold intercepts in orogenic (vein) gold systems barely tested below 300 meters, leaving depth potential as the value driver. The host argues a hanging-together geological model matters more than headline grade, citing Red Lake's two decades of modest mining before its deep bonanza zone. Goliath's Sherbet discovery is widening with depth, adding two broad low-grade zones between its bonanza and Golden Gate high-grade zones. Pirate Gold and Dryden Gold both added parallel structures, and Decade's first deep hole cut textbook porphyry alteration beneath a geophysical target. Macro commentary: a hawkish Fed debut, 40-trillion-dollar debt and long yields near 5% leave gold, silver and copper as the host's preferred cover.

Lab Report | Aug 26 Daily Market Overview & Deep Dive on VR, Vizsla Copper, Kirkland Lake

• Top takeaway Top: His central thesis is that although metal prices are in bull markets, mining equity valuations are still being priced in the concept phase of the Lassonde curve, and that gap is the basis for all three of his picks.
• He describes himself as a high-grade gold junkie who thinks narrow, steeply dipping orogenic veins are where the real value sits in gold systems, and argues depth rather than the current resource is the prize.
• He is openly bearish on Treasury manipulation of the long end, agreeing with Druckenmiller that bond prices have further to fall and yields will rise, and he flags Jackson Hole and Fed Chairman Warsh's divided stance as near-term risk.
• He is bullish on copper, calling it the rock star of the group and arguing constrained supply plus data centre demand could take it to $7 in roughly a month.

Falling Treasury prices keep pushing yields higher, and the host sees the government's bond-market intervention as manipulation that will not work. Gold holds above its 200-day average after a triple bottom, and the host expects copper to reach $7 within a month on data-centre demand. VR Resources drilled 317 metres at 0.77% copper equivalent from surface, but the host still values it as an early concept-stage story. Vizsla Copper's 266 metres at 0.97% copper at Deerhorn is its longest high-grade hit yet; the host says it still trades like a concept junior. Kirkland Lake Discoveries hit 2.13 g/t gold at Morado, a vein-hosted orogenic system the host thinks could double a 500,000-ounce resource.

Lab Report | Aug 25 Daily Market Overview & Deep Dive on Goliath, Nine Mile, Westward, and Tectonic

• Top takeaway Argues the debt-and-fiat system is broken, making gold, silver and copper the best place to be, and sees metals stocks still priced as if gold were about $2,000 and silver about $35.
• Reaffirms his 2026 gold target of $5,500-$6,000 an ounce and repeats his 2024 long-term call of $20,000 gold within 10 years.
• Reads gold's triple bottom and breaks through the 50- and 200-day moving averages as bullish, expects a golden cross within weeks, and watches this week's Jackson Hole conference as a possible catalyst.
• Sees copper at 2026 record highs with room past $7 per pound on the next breakout, and silver through its 50-day average with the 200-day next.
• Frames the show as idea generation rather than buy or sell advice, placing each featured junior on his Lassonde curve — Goliath about 20% up the left side, Nine Mile still conceptual.

Goliath Resources keeps expanding its Sherbet high-grade gold discovery in British Columbia's Golden Triangle, with zones growing larger on wide step-outs. Nine Mile Metals intersects two VMS (volcanogenic massive sulfide) zones in one hole at the Bathurst Mining Camp, yet still trades like an unproven concept. Westward Gold delivers more near-surface Carlin-type gold hits in Nevada, and the host calls its $81.64 million valuation cheap for a new discovery. Tectonic Metals' secondary Black Creek target grades 5.09 grams per ton gold over 21 meters, hinting at a second gold center beside Chicken Mountain. The host argues metal stocks still price gold at $2,000, sticking to his $5,500-$6,000 gold call as quantitative easing continues and officials intervene in bonds.

Lab Report | Aug 20 Daily Market Overview & Deep Dive on Athena, Mackay, Orogen, Sirios

• Top takeaway He is bullish on gold and silver, arguing that fiat currency and the debt system are broken and that all roads lead to gold, with silver following the same path to a degree.
• He points to weak copper supply against strong demand from AI and other electricity-driven uses, and says copper has moved from the lower left to the upper right of his chart over roughly the past year.
• He notes the Dow, S&P 500 and Nasdaq were all lower on Aug 20 amid rate uncertainty, and argues bond yields at multi-year highs are the clearest signal that rate relief is not coming.
• On the stocks he covered he sees Athena sitting very early on the Lassonde curve despite its new Red Lake discovery and a roughly $16.5M valuation, while treating Mackay's roughly $257M valuation as rich but with room to run.
• His stated working method is to watch where companies drill relative to grade and mineralisation, the lens he applies to the fourth deep dive's high-grade shoots beneath the pit shell, and he moved the show's format to deep dives first with the market overview at the end.

Athena Gold's new Red Lake hit of 23.85 g/t (grams per tonne) over 5 metres, near surface, is the standout result. The host reads Sirios' 2.4 g/t over 48.5 metres at Cheech as high-grade shoots being tested beneath the open pit. Mackay Gold & Silver adds a core rig to test the historic Sutro tunnel intersection on the Comstock, Nevada, inside a 20,000-metre program. Orogen Royalties adds a 2% net smelter royalty on the Haldane silver project, and the host prefers its geologist-led model. With bond yields at multi-year highs and debt near $40 trillion, the host says all roads lead to gold, now above its 200-day average.