John Feneck: Big Supply Crunch Coming to This Critical Mineral & Quality Gold Miners On Sale

Palisades Gold Radio Jun 25, 2026

Summary

China, Russia and North Korea control roughly 85% of global tungsten, and the US has produced none since 2015.

China's January 1 cutoff of Japanese tungsten shows how fragile allied supply chains have become.

Nevada projects lead domestic tungsten options; Western Star reports grades above 3% versus 0.3% for the average junior.

The guest calls the 25% to 30% precious metals pullback a buying opportunity, with silver holding 60 and gold 4,000.

His names include Power Metallic, Silverco, Americas Gold & Silver, Triumph Gold, Norsemont and Eastport Critical.

The guest cites Agnico alongside Newmont as a large gold producer behind two successive strong quarters, January-February and April-May.
He attributes the group's drawdown since March to mass selling after the war, and says he has turned net buyer in June.

The guest says First Majestic posted a strong quarter, naming it with Agnico and Newmont as evidence that major producers are still delivering despite the pullback.

Newmont is cited with Agnico as one of the large producers behind the two strong quarters the guest points to before turning to why the group has sold off since March.

The guest names Americas Gold & Silver as one of his two preferred silver names, saying CEO Paul Hewitt told him he has 93% of his net worth in the stock.
He credits Hewitt with fixing what he sees as the company's earlier problem, a lack of a clear plan, and says the copper and antimony byproducts that used to weigh on the shares are helping as of January 1.
He describes the company as roughly 90% silver and counts it among the producers and near-term producers he likes.

The guest says he owned Fireweed near a buck and sold around two and a half, and that he was checking the price again on the day of this June 2026 recording because it had run up like everything else.
He calls it one of the Canadian tungsten projects he hears about most, with a large deposit in Canada but no production yet.
He sees the Lundin family backing the project as a real positive, arguing that well-capitalised owners are a sign the project will not fail.
Even so, he says Fireweed is well behind schedule in advancing the metal and that it is not happening yet.

Top takeaway The host frames the discussion as a very opaque tungsten market in a severe supply crunch, noting that Japan recently said it was shutting around 25% of global tungsten hexafluoride supply, a precursor to semiconductors.
He puts the precious-metals drawdown on the table, down roughly 25% to 30% from the January peak, and asks whether it is a buying opportunity, while noting tungsten prices are already up about ten times from pre-crunch levels.