P2 Gold My Highest Conviction Gold Stock Will Become a Producing Mine
The Gold Bull Jun 7, 2026
Summary
The presenter calls P2Gold his highest-conviction gold stock, betting management can repeat the Brucejack mine build in Nevada.
Gabbs is the simpler project: roads and power already cross the property, in what he calls a friendly mining jurisdiction.
Plans call for average annual output of 175,000 ounces over 14 years, with an after-tax NPV of $2.25 billion.
Projected IRR of 77% underpins his claim that shares trade below a tenth of project value and three times below some peers.
Shares fell from $1.04 in late January to 71 cents; management holds 15%, and the presenter discloses he owns the stock.
Key points on P2 Gold
- As of June 2026, the host names P2 Gold as his highest-conviction gold stock, arguing it has what it takes to become an operating mine and could re-rate to higher multiples.
- He points to the project's economics: an average of 175,000 ounces of gold per year over 14 years, with an after-tax net present value of $2.25 billion and a 77% internal rate of return.
- His central justification is the team's track record — he says P2 Gold's management already built the Brucejack underground gold mine in remote British Columbia, and that the Gabbs project should be a simpler build.
- He notes Gabbs sits in Nevada with roads and power already crossing the property, and describes Nevada as one of the friendliest mining jurisdictions in the world.
- On valuation he says the shares fell from $1.04 at the end of January 2026 to about $0.71 as of early June 2026, leaving the stock below 10% of its net present value and about three times cheaper than some peers; management holds 15% of the shares, which he presents as shareholder alignment, and he discloses owning shares himself.