Gold/Silver Miner Buy The Dip List (June 2026)

Don Durrett Jun 12, 2026

Summary

Gold and silver broke below their 200-day moving averages, and the host calls the 25% to 47% drop a buyable correction in a bull market.

His trigger is the gold-to-S&P 500 ratio — gold's price divided by the index — near 0.6 today; 0.8–0.9 signals gold outperforming stocks.

The watchlist spans producers, developers and explorers, with price assumptions of $7,000 gold and roughly $175 to $190 silver.

Producers adding ounces rank above one-off development stories, since incremental production flows straight to free cash flow and lifts valuations quickly.

He expects another, deeper dip before year-end tied to an S&P selloff, so he is assembling names to buy at lower prices.

Key points on Avino Silver & Gold Mines Ltd

Durrett says it is unusual for an established producer like Avino to carry what he frames as 25-bagger upside, and ties that to his $200 per ounce silver assumption.
He says the math works if Avino grows output to about 8 million ounces a year while keeping its cost base under control, and that cost control is the crux of the number.

Key points on Contango Ore Inc

As of mid-June 2026 he notes Contango has fallen to roughly $15 to $16 from about $27 very recently, one of the sharpest drops among the names he covers.
He says he bid in under $15, around $14.97, did not get filled, and paid $16 instead, while noting Contango is not on his newsletter favourites list.

Key points on Denarius Metals

He says Denarius is building a mill in Colombia with a stated capacity of 1,000 tonnes per day, which he views as working out well.
He adds Lomero in Spain as a second project and likes the leverage Denarius would have if both are built.

Key points on Discovery Silver Corp

Durrett says Cordero is the reason Discovery Silver has so much upside, and that the company is waiting on permits for the greenfield open-pit project in Mexico, a green light that has not been granted yet.
He expects that permit during 2026 but allows it could slip to 2027, and says if it slips he still expects the project into construction by 2027.
He sizes Cordero at roughly a billion ounces of silver and says the mine is meant to be mined from the outset.
He projects about $32 million a year of silver equivalent cash flow over the first three years.
He says Discovery Silver is also targeting 500,000 to 700,000 ounces of gold a year and that the combination makes the stock a monster in his view.

Key points on Endeavour Silver Corp

Durrett expects Endeavour Silver to add production through Piterilla, which he puts two to three years out and says needs more visibility.
He notes Terronera is now mined out, so the case rests on what comes next.
He attributes Endeavour's historically high all-in sustaining costs partly to how the company has financed itself, and says that financial penalty has about a year left to run.
Once it rolls off, he argues, it is hard to find a producer of Endeavour's quality that also has Piterilla not yet built into the numbers.
He frames that combination as the source of the 25-bagger potential upside he sees in the name.

Key points on Gogold Resources

Durrett says GoGold's underground mine was permitted as a greenfield project the week before the recording, and he views that permit as the green light Vizsla had been waiting on.
He likes GoGold and says he trusts it slightly more than Andean Silver because GoGold has more insiders, though he personally prefers Andean.
He points out GoGold has to build two mines, so investors are not paid on today's valuation until the second one is built.
He frames the upside as conditional on gold rather than silver, calling it a gold story that needs gold at $7,000 and staying there.
He puts full production about four years out, two years for the first mine and then two more for the second.

Key points on Guanajuato Silver

Durrett calls Guanajuato a simple story resting on three assumptions: roughly maintain production, keep all-in sustaining costs under control, and see silver reach $200.
He says those three assumptions are not a stretch and that he expects them to come to pass.
He notes silver was around $65 at the time of recording, meaning the company is not making much money right now.
He flags dilution as the main risk and says he does not want existing holders diluted.
On his $200 silver view he says the stock has substantial upside potential.

Key points on Integra Resources

Durrett says he added to Integra this week because he was underweight and had committed to adding to any name on his list where he was light.
He says the Florida Canyon mine is not doing well, with high costs and little free cash flow, which is why investors are not buying the stock.
The upside is two additional mines, with Delamar next in Idaho and another mine in Nevada, taking the portfolio to three operations.
He stresses Delamar is neither in construction nor permitted, putting it at least two years out and making this a long-term holding.
He argues US-located development projects like Integra's could start being valued like producers as sentiment improves, and expects a bid on the name because of where its mines sit.

Key points on Jaguar Mining Inc

Durrett notes producers are scarce on his list and that Jaguar is one of them, based in Brazil.
He says the risk-reward makes sense in a producer with what he frames as 17-bagger potential.
He says the company has three mills, one of which is not running while the other two run at about half capacity.
He expects all three mills to be filled over the next five years and says he likes the CEO.

Key points on Santacruz Silver Mining Ltd

Durrett says Santacruz Silver has come down a long way and frames it as a buy-the-dip opportunity.
He points to the Sorokaya project as the source of added free cash flow, with a couple of years of construction ahead.
He says the project is being advanced as fast as possible.
He ranks it highly because he views producers adding production as reliably good stories.

Key points on Talisker Resources Ltd

Durrett picks Talisker as another producer growing output, with steady expansion that will take time.
He says the market is currently dismissing the name.
His general point is that growing producers are strong bets because added output drops straight to the bottom line and re-rates the valuation.
He says Talisker could reach 80,000 to 100,000 ounces over three years, is shooting for 100,000 ounces in 2028, and has a longer-term goal of 200,000 ounces.
He flags acquisition as one of the risks and says the Brelorn property holds a lot of gold, which helps make the name interesting.

Key points on 1911 Gold

Durrett calls 1911 Gold a simple story with very low capital spending.
He expects mining to start in Q4 2026.
His plan from there is to wait for the ramp-up and hopes for output around 100,000 ounces.
He says a second deposit sits near the first mine and can be fed into the same mill.
He expects a path to 70,000 through 100,000 ounces within a couple of years.

Key points on Aftermath Silver

He frames Aftermath Silver as a long-term story with no PEA yet, which he says is what is needed to put a value on it.
He says the project has a lot of silver and that manganese credits would make it a low-cost silver operation, but there is no timeline yet to production.

Key points on Chesapeake Gold

Durrett says Chesapeake is a development project in Mexico that will take a while to deliver.
He notes no greenfield project has been permitted yet, and says Chesapeake is waiting on Discovery Silver's permit as the signal to proceed, with Sonoro a further catalyst.
He frames the build as at least two years and possibly three.
He calls it a long-distance play but with a lot of leverage.

Key points on New Found Gold

Durrett says New Found Gold's mine in Canada is in production and is a straightforward open pit in Nova Scotia.
Its second mine, Goliath, is the upside but is three to four years out.
He says the company bought Maritime, which is not producing much, and is working to get the second mine going.
He frames New Found as a long-term play that will take time to ramp up.
He likes the location and expects investors to bid the name up as an interesting growth story.

Key points on P2 Gold

Durrett calls P2 Gold a near-clone of Lahontan, a little bigger but in the same neighborhood.
He sees both as similar open-pit projects with exploration potential and likes owning them as a pair.

Key points on Revival Gold

Durrett groups Revival Gold with Integra as two similar stories that both need to build mines.
He says Revival has three projects to build against Integra's two.
His argument is that both should be bid up as sentiment improves, given where their mines are located.
Revival's assets are in the US, in Utah and Idaho, and he expects the stock to fly once Merkur enters construction.

Key points on Silver Mountain Resources

He expects Silver Mountain Resources to enter production during 2026, while hedging that it should already be.
He describes it as another restart with low capital spending and plenty of resources, and says the valuation looks surprisingly cheap given the risk/reward.

Key points on Silver Storm Mining

Durrett says Silver Storm is closer to production than most names on the list and is already operating.
He says it has just finished a deal for Nueva Silver and has a second mine to come.
He states a target of roughly 4 million ounces of production in Mexico in 2027 and 10 million ounces by 2028.
He sizes the currently operating mine at only about 2.5 million ounces, with the San Diego project holding the real upside.
He says there is no decision yet on when San Diego will be built, which leaves a lot of unknowns around the name.

Key points on Silver Tiger Metals

Durrett says Silver Tiger is building its first mine, but that it is only the company's second.
His point on valuation is that these names get no credit for their second and third properties until they reach production, so future free cash flow is not yet in the price.
He says Silver Tiger has to build roughly two underground mines after its open pits.
He classifies it as another long-term holding.

Key points on Spanish Mountain Gold

Durrett calls Spanish Mountain a development play and a speculative bet with high risk.
He says management wants to be construction-ready next year, which he considers a little aggressive.
He puts the capital cost at about $900 million but expects a big mine that could move higher if gold prices trend up.
He says he was underweight the name and has turned positive.

Key points on Vizsla Silver

He says Vizsla Silver received the green light it needed from GoGold's recent underground mine permit.
He acknowledges concern about possible cartel risk at the site but says he is confident because the mine is too big to fail.

Don Durrett's takeaways

Top takeaway Durrett argues the mid-June 2026 pullback, with gold down about 25% and silver down nearly 50% from their peaks, is a routine bull-market correction that should be bought.
His central thesis is that the gold to S&P 500 ratio, around 0.6 as of mid-June 2026 and sitting at the bottom of its long-term channel, is entering stage one of a major gold outperformance cycle, with 0.8 to 1.0 as the target zone.
He is positioning for a second, lower dip before the end of 2026, likely alongside a falling S&P 500, and says investors should already be holding three to seven names ready to buy into it.
He treats his roughly 25-name buy-the-dip list as a newsletter favourites book, owns every name on it, and pairs related stories such as Lahontan with P2 Gold and Honey Badger with BMC.
He uses $200 silver in his company math while arguing silver is headed for roughly $175 to $190, and frames the whole thesis around gold reaching $7,000 and staying there.