Ted Oakley: 'An Accident Waiting To Happen', Why You Need to Own Hard Assets & Oil and Gas
Palisades Gold Radio Aug 18, 2026
Summary
A 35-40% mid-July correction left gold miners cheap on cash flow — Oakley's firm is buying producers back at these levels.
Roughly 10% in gold and miners is the minimum hedge against Western debt loads, aging demographics, and continued money printing.
Royalty models sidestep cost creep because the operator pays the royalty before operating expenses rise.
Energy stocks stay profitable at $70 oil, and U.S. dependence on imported uranium and critical minerals leaves long-term supply at risk.
Key points on Hecla Mining Company
- The guest says he sold HL in the low $30s and bought it back near $15 in mid-July 2026, calling it one of his most opportunistic recent trades during the precious-metals correction.
- He picks HL as the one clean silver miner he wants to own alongside physical silver, noting silver is still a buy and will chase gold higher.
- He prefers HL over smaller, more volatile silver miners because, in his words, he has owned it a long time and 'they do well.'
- He frames HL as part of his hard-asset thesis: at least 10% of a portfolio should sit in miners plus gold to offset currency debasement.
Key points on Franco-Nevada Corp
- The guest calls Franco-Nevada his largest royalty-company holding.
- He argues royalty companies are making more money than ever and will participate in any gold-miner move-up, with far less cost-creep risk than operators.
Key points on Wheaton Precious Metals
- Wheaton is the second-largest royalty holding after Franco-Nevada in the guest's portfolio.
- He argues royalty companies are making more money than ever and will participate in the gold miners' next move-up.