Jeff Clark: SILVER Is 50% Off—and the Biggest Opportunity Is Coming

VRIC Media Jul 11, 2026

Summary

The guest treats big sector corrections as buying opportunities, having loaded up on the COVID dip and buying this sell-off now.

Silver is the better-value metal — its equities fell over 50%, and the gold-silver ratio near 68 sits above its long-run average of 55.

He skips developers and producers, concentrating on four stages: pre-discovery, pre-resource, resource builders, and pre-producers.

Converting resource to reserve cuts risk more than growing it, because conversion is what makes an asset saleable to a senior.

His screening rules: a pro-mining jurisdiction, management actually investing its own money, and a deposit big enough to matter to a producer.

The host raises Mayfair Gold as an example of a resource builder, citing a roughly 3 million ounce resource and 1 million ounce of reserves, and asks how the remaining ounces get converted into reserves.
The guest answers generally that many resource builders either grow the resource or convert it to reserves, and that conversion reduces risk and makes the asset more attractive to a senior or a producer looking for ounces.

He uses Snowline Gold as the payoff case for his pre-discovery category, saying he was up as much as 45x on that name.
In discussing when to sell, he cites Snowline again as the kind of junior that can get far ahead of itself.

Top takeaway The host frames the discussion around the severity of the move, silver down more than 50% and further than gold, and the courage investors need to buy after a fall of that size.
He presses for specifics the guest does not give directly: Mayfair Gold's resource-to-reserve conversion, the risk on each company one by one, and then position sizing, taking profits, red flags and how to read drill results.

Top takeaway The guest attributes the view that large corrections are worth welcoming to Rick Rule, saying he has heard Rule say he loves the big correction, and agrees with it.

Top takeaway He treats the correction as a buying opportunity rather than the end of the bull market, saying he loves big dips, that his largest personal profits came from them, and that he does not believe the bull market is over.
He argues silver is the better opportunity than gold right now: gold leads and silver lags in a bull market but catches up and passes gold on percentage returns before it ends, and the gold-silver ratio around 68 sits above the historical average near 55.
He advises focusing on individual companies rather than the metal, and warns the turn may not come until September, gold's historically best month, or not until 2027.
His framework avoids developers and producers and concentrates on four stages, pre-discovery, pre-resource, resource builder and pre-producer, citing research that gives a 90% chance of a 90% gain between construction decision and first pour.
On discipline he sets a dollar amount per stock, an overweight amount for his best ideas, spreads positions rather than holding dozens of names, and takes profits on doubles while otherwise staying invested; his two disqualifying red flags are insiders handing themselves shares and options without putting their own money in, and a jurisdiction that may not stay pro-mining, with his number one question being whether a deposit is big enough to matter to a producer.

Top takeaway The guest cites Eric Sprott's investment in A2 Gold as one of the signals behind his pick, alongside Ken Ross backing the company several times.