In this interview, mining analyst Joe Mazumdar joins us to break down the current commodities supercycle, gold’s move toward $5,000, why gold equities are still underperforming, and where the biggest opportunities may be emerging in uranium, copper, nickel, lithium, and rare earths. We discuss geopolitical tensions, critical minerals becoming “security assets,” China’s dominance in processing, US mining policy shifts, capital cost blowouts in mining projects, and which jurisdictions like Arizona, Nevada, Idaho, and Saskatchewan could benefit most from the new resource cycle. Joe also explains why investors are focusing on cash flow and shareholder returns instead of growth stories, plus the biggest risks facing uranium and copper developers today. A must-watch conversation for investors interested in gold stocks, mining equities, critical minerals, uranium, copper, and the future of global supply chains.

🗓️ Recording date: May 6, 2026

📖 Chapters
0:00 Intro
1:10 – Where are we in the mining and commodities cycle?
4:20 – Why precious metals remain strong
5:20 – Real rates, inflation & gold prices
6:20 – Is the gold trade overcrowded?
7:05 – Uranium, rare earths & processing bottlenecks
8:20 – Why China dominates critical minerals
10:06 – Why gold equities still lag despite higher gold prices
11:15 – Reserve growth problems for major miners
12:20 – Capital cost blowouts in mining projects
13:20 – Why investors prefer cash flow & dividends
17:20 – Uranium market risks explained
19:10 – Why downstream processing matters most
20:50 – Copper outlook: too much optimism?
22:00 – Copper supply chain problems & tariffs
23:15 – Best mining jurisdictions in the US
25:40 – Projects that still face permitting challenges
27:50 – Are government subsidies enough?
30:00 – Biggest disconnects in commodity valuations
31:00 – Nickel, EV demand & critical minerals