Stance reflects how each is framed in this interview. Research legend: QT Qualtrim · SA Seeking Alpha · STK Stock Analysis. ETFs/trusts (SILJ, PSLV, PHYS) and the host's own technical references are flagged in the notes. The macro reads feed the master macro viewpoints (gold & precious metals, US-dollar debasement, uranium / nuclear).
| Ticker | Name | Research | View | What he said | At |
|---|---|---|---|---|---|
| AGI | Alamos Gold | QT · SA · STK · FA | Positive | Down almost 50% from its March highs on a Young Davidson (Ontario) seismic event that forced a guidance cut — but a "top tier management team," a "temporary problem" that will be worked through. Buying a high-quality miner down ~50% is "usually a good opportunity." | 0:52 |
| RGLD | Royal Gold | QT · SA · STK · FA | Positive | "An exceptional buying opportunity" near $200 — "I continue to buy aggressively." Sees approximately a double in the share price without the gold price moving, just from assets coming online and the stock getting "valued more like their peers." | 30:27 |
| WPM | Wheaton Precious Metals | QT · SA · STK · FA | Positive | Likes it around $110 (better closer to $100). Its big streams sit on very long-life assets — 30/40/50-year mine lives — so unlike smaller royalty names it has no asset-replacement worry, plus "a lot of growth coming." | 28:59 |
| ATUSF | Altius Minerals | QT · SA · STK | Positive | Historically traded at a huge discount to NAV; that's gone now, but fair value is ~US$40 with ~15% annual growth — "a triple in 10 years if my math is right." Willing to buy here "because the price is fair." | 26:50 |
| ELEMF | Elemental Altus Royalties | QT · SA · STK | Positive | Mostly gold & copper; just announced a significant silver royalty — production likely "five years, maybe seven" out (management says end-2027, which he thinks "very optimistic"). Good growth and other strong assets; "a pretty good price" at the entry level he cited. (He says "around $15"; Elemental Altus trades far lower — likely a misstatement / mis-transcription of ~$1.50.) | 28:03 |
| OGNNF | Orogen Royalties | QT · SA · STK | Positive | A brief nod in the royalty run-through: "from what I've seen, it's a pretty good value." No specific target price given. | 27:31 |
| FNV | Franco-Nevada | QT · SA · STK · FA | Neutral | Used as the illustration that royalties outperform gold over time (FNV ÷ gold turning up). Caveat: its long-term chart is broken into two pieces by a buyout/spin-out, so for the cleanest long history he points to Royal Gold or Wheaton instead. | 6:43 |
| SLCRF | Silver Crown Royalties | QT · SA · STK | Neutral | "I really like what I know of this company so far" — still researching. Michael Gentile (a shareholder worth following) is very bullish, but on a ~20-year horizon (out to ~2046) — so only suitable for investors who can match that time frame. | 17:49 |
| DNN | Denison Mines | QT · SA · STK · FA | Neutral | Phoenix is one of the world's highest-grade deposits with a high IRR and short payback — if the unproven deep ISR mining method works. But after-tax NPV is only ~$2–2.5B (vs ~$1.6B in the study, +30% for $85 uranium); a $20 stock implies ~$20–25B mcap. Low costs ⇒ little uranium-price leverage — "even if uranium goes to $300, I still don't think it's a $20 stock." | 34:45 |
| SILJ | Amplify Junior Silver Miners ETF | SA · STK | Neutral | Host's technical read, not Rusche's pick: a double bottom in SILJ with bullish RSI positive divergence (31→37), echoed across other gold/silver miners — "a textbook way to be on the good side of variance for finding bottoms." | 24:53 |
| PSLV | Sprott Physical Silver Trust | SA · STK · FA | Neutral | Referenced by the host: a $18 limit order just filled for him, cited alongside the silver-bottoming technicals. | 24:24 |
| PHYS | Sprott Physical Gold Trust | SA · STK · FA | Neutral | The "gold trust" alternative in viewer John's question (buy a metal-holding trust or a major royalty?). Rusche would pick a major royalty for the long-run outperformance — while still valuing some actually-held physical metal as insurance outside the banking system. | 2:33 |
Stance = how each name is framed in this interview, not a price rating. The substance also lives in the talking points and the master macro viewpoints: gold & precious metals (royalties > gold; a healthy $3,500 consolidation), US-dollar debasement ("all roads lead to money printing"), and uranium / nuclear (low-cost producers have low price leverage).
A jargon-free summary of the thesis behind each name — what it is and why he holds the stance. (Plain-language companion to the table above; renders on each name's consolidated page.)
Alamos Gold is a mid-tier gold miner. One of its Ontario mines (Young Davidson) had underground seismic activity, so the company cut how much gold it expects to produce this year and the stock fell about 50% from its March high. Rusche treats that as a temporary, fixable operational problem at a well-run company — and buying a quality miner down 50% is usually a good opportunity. His rule: don't make a permanent decision (selling for good) over a temporary problem.
Royal Gold is a royalty/streaming company — instead of operating mines, it pays cash up front for a slice of a mine's future gold (a royalty) or the right to buy metal cheaply for the mine's life (a stream), so it gets the commodity upside without an operator's costs and cost inflation. Rusche calls ~$200 "an exceptional buying opportunity" and keeps buying: he thinks the shares could roughly double even if gold goes nowhere, just as new royalties start paying and the market re-rates the stock up to where its peers trade.
Wheaton Precious Metals is one of the big streamers. Its edge is unusually long mine lives — its key assets last 30 to 50 years — so unlike smaller royalty companies it isn't constantly spending to replace assets running out in 5–10 years. Rusche likes it near $110 (better around $100), with plenty of growth still ahead.
Altius Minerals is a diversified royalty company that for years traded at a big discount to the value of its underlying assets (its "net asset value"). That discount has mostly closed, but Rusche still pegs fair value near US$40 and expects ~15% annual growth — math that points to roughly a triple over ten years — so he'd buy here because the price is at least fair.
Elemental Altus Royalties is a smaller gold-and-copper royalty company that just added a sizable silver royalty. Rusche thinks that silver asset won't actually produce until ~5–7 years out (management says end of 2027, which he considers too optimistic), but it gives the company real long-term growth, and he sees the stock as good value around the price he cited.
Orogen Royalties is another precious-metals royalty name. Rusche gives it only a brief nod here — "a pretty good value" from what he's seen, with no specific price target.
Franco-Nevada is the largest gold royalty company. Rusche uses its price divided by the gold price to show that royalty companies tend to beat gold itself over time. He notes its long-term chart is split into two pieces by a past buyout and re-listing, so for the cleanest long history he points to Royal Gold or Wheaton instead.
Silver Crown Royalties is a tiny silver-focused royalty company. Rusche likes what he's seen but is still doing the work. He flags that well-known investor Michael Gentile is bullish — but on a roughly 20-year view (out to ~2046) — so it only suits someone willing to hold for the very long haul and not panic if it falls in year one. The lesson he draws: your holding period has to match how long the company actually needs to deliver.
Denison Mines is building Phoenix, an extremely high-grade Canadian uranium deposit with strong project economics — if its unconventional in-situ ("ISR") mining method, untested at this depth, works. A viewer thinks the $3 stock becomes a $20 stock; Rusche disagrees. The project's after-tax value is only about $2–2.5 billion even after adjusting for today's higher uranium price, while a $20 share price implies a roughly $20–25 billion company. And because Phoenix is so low-cost, its profits rise only roughly in step with uranium — a low-cost mine has more downside protection but far less upside leverage than a high-cost one — so even uranium at $300 wouldn't get it to $20.
The Sprott Physical Gold Trust is a fund that simply holds bullion — a way to own gold without storing it yourself. Asked to choose between that and a major royalty company, Rusche picks the royalty company for its long-run outperformance, while still seeing a place for actually-held physical metal as insurance outside the banking system.
Summary & timestamps derived from the public YouTube video (transcript in transcript.txt) for personal study. Not investment advice. © In it to Win it & Jordan Rusche / Mining Stock Monkey for source material.