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Natural Resource Stocks with Andy Millette
654 Episodes
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Recorded on February 26 2026 Silver just cleared a structural ceiling that capped it for decades, and Christopher Aaron says the setup is only getting started. In this conversation with Natural Resource Stocks host Steve Yang, Christopher breaks down why the 45-year consolidation matters, how supply gets tightened by real-world industrial consumption, and why long base-building phases tend to produce the most explosive next legs. He walks through his long-term chart work on silver across centuries, explains how he frames consolidation zones versus blow-off phases, and shares the macro chart he watches most closely: the Dow priced in ounces of…
TSXV JTWO, FSE OO1Recorded on February 24 2026 J2 Metals CEO Thomas Lamb joins host Steve Yang to break down how J2 is building a tightly structured, multi project exploration company with near term catalysts across Mexico, Quebec, and Alaska. The conversation leads with Sierra Plata in Mexico and the specific drill logic management wants to test first, drilling under historic mines and workings to see whether the veins strengthen at depth before stepping out into deeper regional targets. Thomas explains how the district setting, nearby operating activity, and potential processing optionality inform the early program design and what success…
Recorded on February 25 2026 In this interview, Keith Weiner of Monetary Metals breaks down why gold keeps reasserting itself as money when confidence in policy and payment rails gets tested. The conversation starts with a blunt point most investors miss: in true settlement, gold can eliminate trust requirements, and that changes how you think about monetary competition. Keith challenges popular narratives around scarcity and value, then pivots into the mechanics of currencies, reserves, and why the dollar can remain dominant even as the world trends toward de fiatization. Steve and Keith map the BRICS discussion to real world constraints,…
TSXV: BOGO | OTC: BORMF | FSE: L4B0Recorded on February 25, 2026 Borealis Mining CEO Kelly Malcolm joins Andy Millette for a hard-nosed update on what matters most right now: real gold pours, real operating momentum, and a project that is heavily levered to the gold price. Kelly explains why Borealis expects gold pours to increase in frequency (and hopefully size) as more ore hits the leach pad, and why the company intentionally avoids “value-of-the-bar” style announcements that can get dicey with timing and pricing. The conversation then turns to the updated Sandman economics—what stayed the same, what was updated,…
Recorded on February 24 2026 Steve Yang sits down with Patrick Karim of Northstar Badcharts to break down what the charts are signaling across silver, crude oil, and energy equities. Patrick explains why long sideways bases and false breakdowns can wipe out morale right before the sharpest upside moves begin, and how he looks for confirmation and clean invalidation instead of guessing. They walk through the oil complex and energy leaders like Exxon to show how price action can tip its hand before headlines hit. You also get Patrick’s cross asset framework using ratios and long duration yields to build…
Recorded on February 24 2026 #Millettian AI era electricity demand is forcing investors to rethink coal. In this conversation Steve Yang sits down with Matt Warder of The Coal Trader to break down why data center buildouts can keep baseload generation in focus and why coal fundamentals still move on old-school commodity constraints like supply lag, infrastructure, and policy. Matt explains the key split between thermal coal for power and metallurgical coal for steel and why each market has its own cycle, catalysts, and price sensitivity. They dig into the storage bottleneck, what it would take for coal plants to…
LSE: ECOR | TSX: ECOR | OTCQX: ECRAF Recorded: February 23, 2026 Ecora Royalties CEO Marc Bishop Lafleche joins Andy Millette to explain how Ecora has shifted from a legacy coal-heavy mix to a copper-led, critical-minerals royalty portfolio. Marc breaks down why copper is ~50% of portfolio value today (estimated NAV), what made 2025 a “landmark year” (including ~$57M portfolio contribution), and how the company thinks about “layering” growth through producing royalties/streams plus upcoming milestones. We also cover why royalties can benefit from top-line growth even as mine build costs inflate—and what operating leverage looks like in a lean royalty…
TSX: SAM | FSE: V4JA | US: SHVLF Recorded on February 19, 2026 Steve Yang sits down with Starcore International Mines President & CEO Robert Eadie to unpack how a junior producer in Mexico plans to scale cash flow by stacking three revenue streams onto existing infrastructure. Eadie breaks down the San Martin Mine operating base, why carbonaceous ore processing is positioned as the near-term unlock, and how nearby feed can help keep the mill working without a massive rebuild. They dig into dry stack tailings and what “real” environmental execution looks like in day-to-day mining decisions. Robert also explains…
Recorded on 2-18-2026 Rick Rule joins Andy Millette to lay out a simple survival rule for 2026: assume violent volatility and build your plan before the tape whipsaws you out. Rick explains why he sells a portion into strength to recoup principal and remove downside, then connects that discipline to how he evaluates silver moves that shake newer participants. They shift into oil and gas, where Rick talks about news driven spikes, why he prefers pullbacks when he is accumulating, and what parts of the supply chain can matter most when cycles tighten. The conversation then gets practical on edge:…
Recorded on February 18 2026TSX LGD | OTCQX LGDTF Liberty Gold President and CEO Dr. Jon Gilligan joins Andy Millette to break down the newest feasibility stage mineral resource update at Black Pine in Idaho and what it changes for the build path ahead. The Black Pine resource has now moved to roughly 6 million ounces total across indicated and inferred, giving the feasibility work a bigger foundation and more flexibility on reserve sizing and mine life. Jon explains why this is a rare kind of development story in today’s gold space: a brownfields restart with simple open pit run…
Recorded on February 18 2026TSX-V ECU. OTCQB EMTRF. BVL ECU. Steve Yang sits down with Element 29 Resources President and CEO Richard Osmond to break down the company’s Tier 1 scale ambition at its Elida Cu-Mo-Ag project in Peru and what it takes to earn a rerating in the copper space. Richard lays out the concrete resource growth target and why reaching that threshold changes the conversation around mine life, throughput, and development optionality. They dig into what the drill program is actually trying to prove, how infrastructure and logistics shape capital intensity, and why Peru remains central to Element…
Recorded on February 18 2026 Patrick Karim of Badcharts and Northstar and Badcharts joins Andy Millette to cut through the noise on gold, silver, and the miners using pure chart structure and disciplined trade management. Patrick explains why an uptrend can still be a bad entry when price is stretched, how he defines a lower risk entry point using longer-term moving averages, and why V-shaped moves can be difficult to manage with clean stop placement. They get blunt about corrections, drawdowns, and the simple truth many traders ignore: you are allowed to step aside and wait for resolution. The conversation…
Recorded on February 17 2026 Steve Yang sits down with Lobo Tiggre, editor of The Independent Speculator, for a blunt read on why the current gold uptrend does not match prior peak patterns even after the latest volatility. From there, Lobo breaks down the trap behind silver hype cycles and why buy low, sell high discipline beats price targets and guru narratives. He explains how taking profits on the way up can fund fresh buy-low rotations when broader markets wobble. The conversation moves into energy and geopolitics, including what could unlock the oil patch and how headline-driven shocks can distort…
Recorded on February 17, 2026. Steve Yang sits down with Chris Vermeulen (Founder & CIO of The Technical Traders) for a hard, chart-driven conversation about what the market is really saying right now—without the narratives. Chris walks through why parabolic moves can flip fast, how log vs linear charts can give completely different “signals,” and what he watches to avoid getting trapped in crowded trades. The discussion moves from silver and gold to oil/energy and mega-cap equities, including how leadership cracks can spread once key levels fail. Chris also breaks down how he thinks about stepping aside (cash) until trends…
Recorded on February 13 2026TSX-V: GRL | OTCQB: GRLMF Andy Millette sits down with Matt Filgate, President and CEO of GreenLight Metals, for a hard-nosed update on why GreenLight is mobilizing two drills at the Bend copper gold VMS deposit in Wisconsin and how the team intends to grow a historic 4.5 million ton footprint into a 10 million ton plus scale story. Matt breaks down the step out strategy beyond the current deposit footprint, what the last campaign proved about high grade massive sulfides, and why downhole geophysics is pointing to stronger conductors under and beyond known mineralization. They…
Recorded on February 13 2026 Steve Yang sits down with Simon Hunt of Simon Hunt Strategic Services for a hard-nosed look at the debt and liquidity backdrop shaping markets into late 2026 and beyond. Simon argues that global and US leverage have reached levels that force policymakers into a bond refinancing fight, and that flat to falling liquidity can pressure equities, copper, gold, and silver before the next inflation driven leg higher. They also map how old world versus BRICS friction can amplify volatility, and why capital preservation and real asset positioning matters when the tape turns. Expect direct answers,…
Recorded on February 13 2026 Rick Rule joins Steve Yang to lay out a blunt macro framework for the next decade and why he believes it rhymes with the 1970s: sovereign debt math, political constraints, and the realistic ways societies attempt to resolve obligations they cannot pay in real terms. Rick walks through the logic chain from on balance sheet deficits to off balance sheet entitlements, why the arithmetic matters more than ideology, and why the endgame tends to be inflation that reduces real obligations while nominal promises are maintained. From there, he explains how bond markets can eventually regain…
TSXV: MGMA | OTCQB: MAGMF | FSE: BC21Recorded on February 12, 2026 in Atlanta, GA, USA In this special in-person sit-down in Atlanta, Andy Millette speaks with J. Stephen Barley, Chairman and CEO of Magma Silver, following the company’s investor lunch at The Palm in Buckhead. They walk through why Magma can trade at a discount even with a well-advanced silver-gold project and a deep historical dataset behind it. Barley details the company’s funding position, capital structure, and why the current shareholder base was selected to support execution instead of short-term churn. The conversation then moves into Niñobamba in Peru,…
Recorded February 6 2026TSXV DYGOTC DGDCFFSE D5G1 Dynasty Gold CEO Ivy Chong joins Steve Yang for a direct breakdown of what actually matters at Thundercloud.They cover drilling priorities, how the team thinks about scale, and what to watch next as the story develops. In this episode, Steve presses Ivy on execution and catalysts, not vague narratives. Ivy walks through Dynasty’s flagship Thundercloud project in northwest Ontario, how the team approaches targeting and step outs, and what needs to happen for a meaningful market re rate. The conversation also touches on the company’s broader asset footprint and how management thinks about…
Recorded on February 11 2026 | Dryden Gold Corp | TSXV DRY | OTCQB DRYGF | FSE X7W Dryden Gold President Maura Kolb joins Andy Millette to break down what the latest Gold Rock results actually mean for the story, and what matters next if you’re tracking this as a developing, district-scale high-grade system. They walk through why shear-zone style mineralization can deliver both grade and meaningful widths, how vertical continuity changes confidence drilling, and why parts of the system may lend themselves to an open-pit pathway rather than a purely underground narrative. Maura explains the practical advantage of northwestern…
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