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THESE Gold & Silver Stocks a Screaming BUY - 'More Bullish Than Ever': John Feneck and Don Durrett

Commodity Culture Jul 14, 2026

Summary

Durrett frames the metals selloff as a correction, not the end of the gold bull market, which he says only breaks below $3,000.

Both guests attribute the drop since March 1st to the Iran war rather than mine fundamentals, and warn of another seasonal dip this fall.

Feneck's development picks include Silverco, Blackrock Silver and Silver 47, each trading far below its spring highs on unchanged plans.

Durrett's stock lists split by horizon: quality North American producers for a year, developers for three-to-five-year multi-bagger attempts.

Feneck is bullish on tungsten equities despite an 8-9x spot price surge, because China supplies about 80% and no ETF or futures market exists.

Key points on Equinox Gold

  • Durrett lists Equinox Gold among his three high-quality gold producers, saying the Equinox-Orla merger made it an extremely strong and highly undervalued company.
  • Feneck uses Equinox, together with the rest of Durrett's picks and the GDX holdings, to argue miners are posting very strong earnings even though the sector is selling off in July 2026.

Key points on First Majestic Silver

  • Durrett places First Majestic Silver in what he calls the elite four silver producers, alongside Pan American Silver and below Hecla and Core Mining.
  • For investors who cannot buy US-listed ETFs, he says stocks such as First Majestic are the practical way to get exposure to silver producers.

Key points on Hecla Mining Company

  • Durrett puts Hecla at the top of his 12-month silver-producer picks, together with Core Mining.
  • He argues Hecla and comparable names are in good North American locations, trade in New York and will be bought for scarcity because few listed stocks fit that description.

Key points on Pan American Silver

  • Durrett ranks Pan American Silver in the second tier of his 12-month silver picks, calling the group of four the elite producers in the space.
  • He says investors barred from buying American ETFs have to own individual stocks such as Pan American to get silver exposure.

Key points on SSR Mining

  • Durrett calls SSR Mining the quality gold producer that has never really caught up, blaming problems in Turkey, where the company sold its project and exited the country.
  • He keeps SSR in his three high-quality gold producer picks, arguing the recent sector sell-off has not changed the case.

Key points on Denarius Metals

  • Feneck says the debenture overhang has been the biggest issue Denarius Metals has addressed, and that the company is clearing it this summer rather than next year because it also expects higher gold prices.
  • The stock was about 58 cents US when the debenture news was announced and 41 cents US at the time of recording, down from 90 cents earlier in 2026 — Feneck says it has already taken the news on the chin.
  • Feneck made two site visits in 2026, one in Colombia and one in Spain, and says Denarius is among the very few companies he has ever visited.
  • Denarius is already producing in Colombia and should be producing in Spain within a few months; Feneck expects good news flow by roughly Q1 2027.
  • The company plans to uplist its Canadian listing (DMET) to the TSX later in 2026 because it says current liquidity there is inadequate.

Key points on Westgold Resources Ltd

  • Durrett names Westgold Resources as a high-quality mid-tier gold producer in Australia, one of his three large-cap quality picks.

Key points on 1911 Gold

  • Durrett says 1911 Gold is going into production in Q4 2026 in Canada and lists it among his three gold developer choices.

Key points on Fireweed Metals

  • Feneck mentions Fireweed Metals only as a comparison, saying he knows it is also quite large in Canada, while discussing Spartan's tungsten acquisition.

Key points on NexGold Mining

  • Feneck says NexGold Mining holds about 7 million ounces of gold with the ability to choose between either Canadian project, and that the market is missing it.
  • He expects production in roughly three years, contrasting NexGold with developers he believes are bluffing their timelines.
  • NEXG traded at about 83 cents US at the time of recording versus $1.75 a few months earlier; Feneck argues the real price is somewhere in the middle.
  • The company built out its field team in February and March 2026 and Feneck says it is going for it after speaking with the company the Friday before recording.
  • Durrett lists NexGold among his three gold developer picks, saying construction of its mine is only starting this year.

Key points on Silver Storm Mining

  • Durrett says Silver Storm Mining has just gone into production, while its San Diego project is still contributing no value.
  • He values the San Diego project at another $100 million and includes Silver Storm among his four silver developer 10-bagger plays.

Key points on Western Copper & Gold

  • Feneck says Western Copper & Gold is up multiples over roughly the past 18 months, which he cites as evidence the Yukon region still holds value.

Key points on Banyan Gold Corp

  • Feneck says Banyan Gold is up multiples over roughly the past 18 months, which is why he is looking harder at other Yukon names.

Key points on Blackrock Silver

  • Feneck says Blackrock Silver is going into construction next year with production likely the year after, in a US project carrying over 100 million ounces of silver equivalent.
  • He points to a recently updated PEA showing all-in sustaining costs he describes as extremely low compared with peers in Nevada.
  • The stock traded at $1.75 on heavy volume at the end of March 2026 and the company said on a call a few days before recording that construction starts next year.
  • He contrasts that near-term schedule with development stories investors would have to wait five years on.

Key points on Silver47 Exploration Corp

  • After merging with Summa, Silver47 can now drill three projects across New Mexico, Nevada and Alaska year-round by moving rigs between them, and Feneck says it is well funded.
  • He expects a steady flow of exploration news from that expanded program.
  • Feneck says the name sits behind Silverco and Blackrock on development progress, but likes it a lot at about 42 cents US (AAGAF/AAG) versus $1 not long ago.

Don Durrett's takeaways

  • Top takeaway Durrett argues this is fundamentally a gold story in which silver is the little sister that will not lead on its own — a rally to $4,400-$5,000 in gold would only take silver to around $70, and any near-term bounce would be a dead cat bounce.
  • He says the gold bull market is nowhere near over: the chart only really breaks below $3,000, probably $2,800, and he expects a possible lower low into the US midterms from the $3,950-$4,000 area.
  • He calls the June dip and the current one buying opportunities he has already bought, and puts HUI at 615, down 38% from 989, as close to the low he expects — the low 500s possible, but no 400s.
  • His macro case for owning miners is that you should own gold and silver miners because you do not believe in the US economy, citing a $2 trillion budget deficit with no solution, inflation stuck above 2%, housing unaffordability, banks holding underwater bonds and roughly 10,000 jobs a month being lost to AI.
  • His picks are Hecla and Core Mining then Pan American and First Majestic as quality silver producers for 12 months, Honey Badger, Andean Silver, BMC Minerals and Silver Storm as 36-to-48-month silver developers, and Equinox, Westgold Resources and SSR Mining as gold producers with 1911 Gold and NexGold among developers.

Alan Greenspan's takeaways

  • Top takeaway Durrett pushes back on the Greenspan view that the US can never default because it has a printing press, calling that nonsense since printing everything would create inflation and destroy the economy and the currency.

Mr. Blake Morgan's takeaways

  • Top takeaway Feneck says Western Star's CEO Blake Morgan has already met with the US government to seek non-dilutive funding for the company's New Mexico tungsten project, which he calls a catalyst.

Jesse Day's takeaways

  • Top takeaway Day frames the hit taken by the metals and the miners as caused by the war in Iran rather than by fundamentals, which he says are stronger than ever.
  • He challenges the guests on why US critical minerals names have not responded to roughly $112 billion committed by the US Export-Import Bank and Project Vault.