The Hedgeless Horseman

The Hedgeless Horseman

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Independent mining and exploration investing analysis, interviews, and essays.

Eloro Resources Ltd: Advancing One of Bolivia’s Largest Silver Discoveries in Centuries, and Building a Portfolio to Match
NewsMar 30, 2026

Eloro Resources Ltd: Advancing One of Bolivia’s Largest Silver Discoveries in Centuries, and Building a Portfolio to Match

Eloro Resources Ltd. (TSX: ELO) is advancing the Iska Iska Project, a newly identified silver‑tin polymetallic discovery in Bolivia’s Potosí Department. CEO Thomas G. Larsen describes the find as a world‑class, never‑drilled collapse‑resurgent caldera centre of a massive volcano. The...

By The Hedgeless Horseman
Opportunities For Outperformance In The Small and Mid-Tier PM Producers (Part 1)
NewsMar 30, 2026

Opportunities For Outperformance In The Small and Mid-Tier PM Producers (Part 1)

The article outlines how small and mid‑tier gold producers can deliver outsized returns compared with larger miners. It begins with mindset advice for investors before diving into the fundamentals and technicals of select stocks. The author highlights near‑term catalysts such...

By The Hedgeless Horseman
Bob Moriarty: WW3, Shortages & Markets
NewsMar 27, 2026

Bob Moriarty: WW3, Shortages & Markets

Bob Moriarty’s recent commentary warns that the specter of World War III is intensifying geopolitical risk, which could cascade into global supply‑chain shortages and heightened market turbulence. He argues that escalating tensions may disrupt energy and commodity flows, prompting sharp price...

By The Hedgeless Horseman
SmallCap-Investor Interview Mit Patrick Highsmith, Chairman Von FireFox Gold
NewsMar 27, 2026

SmallCap-Investor Interview Mit Patrick Highsmith, Chairman Von FireFox Gold

FireFox Gold (WKN: A419WJ) is focusing on its Mustajärvi project in Finland’s Central Lapland Greenstone Belt, a region historically underexplored due to heavy glaciation. Recent drilling has returned high‑grade gold intersections, suggesting the company is nearing a genuine discovery. The...

By The Hedgeless Horseman
Homerun’s R&D Initiatives with Dr. Subash Risbud – Fused Silica Glass, Silicon Carbide, and More…
NewsMar 27, 2026

Homerun’s R&D Initiatives with Dr. Subash Risbud – Fused Silica Glass, Silicon Carbide, and More…

At the inaugural International Online Conference on Optics (IOCO 2026), materials scientist Dr. Subhash Risbud showcased a rapid fused‑silica glass production method that uses high‑purity quartz sand sourced from Homerun Resources. The presentation highlighted how precise control of impurities, grain...

By The Hedgeless Horseman
Rick Rule Says This Gold Stock Panic Looks Like a Buyer Opportunity
NewsMar 27, 2026

Rick Rule Says This Gold Stock Panic Looks Like a Buyer Opportunity

Veteran resource investor Rick Rule warns that the recent sharp sell‑off in gold equities is less a crisis than a buying window for disciplined, long‑term investors. He argues that focusing on a "shopping list" of high‑quality names, rather than trying...

By The Hedgeless Horseman
Cabral Gold Announces $20 Million Bought Deal Financing
NewsMar 25, 2026

Cabral Gold Announces $20 Million Bought Deal Financing

Cabral Gold Inc. announced a bought‑deal financing of 21.055 million common shares at C$0.95 each, generating C$20 million (≈ $14.8 million USD) in gross proceeds. An over‑allotment option could add up to 3.16 million shares, potentially raising total proceeds to about C$23 million (≈ $17 million USD). The...

By The Hedgeless Horseman
Rick Rule on Goliath: “A Really, Really Interesting Target”
NewsMar 24, 2026

Rick Rule on Goliath: “A Really, Really Interesting Target”

Rick Rule, the veteran mining investor, told Rule Investment Media that Goliath Resources is a "really, really interesting target." The comment came during a brief interview and highlighted Goliath’s copper‑gold exploration assets in Nevada. Although the interview provided few specifics,...

By The Hedgeless Horseman
Homerun Resources Inc. Announces Binding Distribution Agreement with Cristal Sand Group, Securing First Commercial Sales of High-Purity Industrial Silica Sand...
NewsMar 24, 2026

Homerun Resources Inc. Announces Binding Distribution Agreement with Cristal Sand Group, Securing First Commercial Sales of High-Purity Industrial Silica Sand...

Homerun Resources Inc. has signed a binding 12‑month exclusive sales distribution contract with Cristal Sand Group for high‑purity industrial silica sand from the Santa Maria Eterna district in Bahia, Brazil. The agreement secures the company’s first commercial volumes, with a...

By The Hedgeless Horseman
Excelsior: Metals Market Mash-Up – Navigating The Turbulent Seas
NewsMar 23, 2026

Excelsior: Metals Market Mash-Up – Navigating The Turbulent Seas

The metals sector has been rattled by sharp price swings throughout 2026, leaving investors uncertain. In this context, junior miner Silver Viper announced an 11.70‑million‑ounce resource estimate featuring high‑grade intersections of 9.18 g/t gold and 352 g/t silver. The company is simultaneously...

By The Hedgeless Horseman
FinEx Metals Completes Oversubscribed Private Placement for Gross Proceeds of $1,671,600
NewsMar 23, 2026

FinEx Metals Completes Oversubscribed Private Placement for Gross Proceeds of $1,671,600

FinEx Metals Ltd. completed an oversubscribed non‑brokered private placement, issuing 13,930,000 units at $0.12 each and raising $1,671,600 in gross proceeds. Each unit comprises one common share and half of a warrant exercisable at $0.18 for 24 months. Insiders purchased...

By The Hedgeless Horseman
Scottie Resources– Final 2025 Drill Results, Planning A Fully-Funded 50,000 Metre 2026 Drill Program
NewsMar 20, 2026

Scottie Resources– Final 2025 Drill Results, Planning A Fully-Funded 50,000 Metre 2026 Drill Program

Scottie Resources Corp. released the final results of its 2025 drill campaign at the Blueberry Contact Zone, part of the Scottie Gold Mine Project in British Columbia's Golden Triangle. The company announced a fully‑funded 50,000‑metre drill program for 2026, aimed...

By The Hedgeless Horseman
Bob Moriarty: “End of the American Empire” Will Drive Gold and Silver Higher
NewsMar 19, 2026

Bob Moriarty: “End of the American Empire” Will Drive Gold and Silver Higher

Bob Moriarty, founder of 321Gold, warned that a perceived “end of the American empire” could trigger a historic market shift. He cites escalating geopolitical tensions, energy‑price shocks and mounting financial strain as catalysts eroding confidence in fiat systems. In his interview...

By The Hedgeless Horseman
Headwater Gold Completes Oversubscribed Private Placement for Gross Proceeds of $5.75 Million
NewsMar 19, 2026

Headwater Gold Completes Oversubscribed Private Placement for Gross Proceeds of $5.75 Million

Headwater Gold Inc. completed an oversubscribed private placement of 9,914,150 common shares at $0.58 each, raising $5.75 million in gross proceeds. The offering, led by Canaccord Genuity, included participation from Centerra Gold, which retained its 9.99% stake. Net proceeds will fund...

By The Hedgeless Horseman
Crescat Capital Market Update March 13, 2026 | Goliath Resources
NewsMar 15, 2026

Crescat Capital Market Update March 13, 2026 | Goliath Resources

Crescat Capital’s March 13 market update highlighted substantial progress at Goliath Resources’ Golddigger Project. Quinton Hennigh reported that the mineralized system has expanded dramatically compared with last year’s drilling. Recent core work has further enlarged the Surebet discovery, adding significant...

By The Hedgeless Horseman
Carlyle’s Currie Warns Against Oil and Gas Hoarding
NewsMar 13, 2026

Carlyle’s Currie Warns Against Oil and Gas Hoarding

Jeff Currie, chief strategy officer at Carlyle Energy Pathways, told Bloomberg Surveillance that the ongoing Iran war is already disrupting the global oil and gas supply chain. He warned that the damage could take months to unwind and cautioned market...

By The Hedgeless Horseman
Gundlach Unlocked: Positioning for Inflation and a Weaker Dollar
NewsMar 13, 2026

Gundlach Unlocked: Positioning for Inflation and a Weaker Dollar

In the debut episode of Gundlach Unlocked, DoubleLine founder Jeffrey Gundlach warned that inflation is likely to stay above the Federal Reserve’s 2 percent target and that long‑term rates have stalled despite recent cuts. He also sees the U.S. dollar entering a...

By The Hedgeless Horseman
Rick Rule: Oil Shocks, Mining Costs, and Lessons From the ’73 Arab Embargo
NewsMar 13, 2026

Rick Rule: Oil Shocks, Mining Costs, and Lessons From the ’73 Arab Embargo

Rick Rule warns that renewed oil price volatility is inflating mining operating costs and reshaping the sector’s risk profile. He draws parallels to the 1973 Arab Oil Embargo, noting how energy shocks can trigger profound real‑asset cycles. The interview also...

By The Hedgeless Horseman
Amex Awards Two Key Mandates for the Development of Its Perron Project
NewsMar 13, 2026

Amex Awards Two Key Mandates for the Development of Its Perron Project

Amex Exploration announced the purchase of a water‑treatment plant from ASDR and the appointment of Norda Stelo to conduct a Phase 1 Environmental Impact Assessment for its Perron Project. The treatment plant will support the upcoming bulk‑sample program and be reused...

By The Hedgeless Horseman
Amex Exploration (TSXV:AMX) – High-Grade Quebec Gold Project Targets Q3 2027 Production.
NewsMar 12, 2026

Amex Exploration (TSXV:AMX) – High-Grade Quebec Gold Project Targets Q3 2027 Production.

Amex Exploration announced that its high‑grade Quebec gold project is on schedule to commence production in the third quarter of 2027. The development targets an initial output of roughly 120,000 ounces of gold per year, backed by measured and indicated...

By The Hedgeless Horseman
Critical Minerals in the US: What’s Happening at Stillwater?
NewsMar 12, 2026

Critical Minerals in the US: What’s Happening at Stillwater?

At the PDAC 2026 conference, Stillwater Critical Minerals CEO Michael Rowley outlined a series of initiatives aimed at scaling the company’s flagship Montana project. Glencore reaffirmed its investment, backing a new three‑rig drilling campaign designed to expand the resource base...

By The Hedgeless Horseman
Excelsior: Opportunities In Growth-Oriented Silver Producers – Part 16
NewsMar 11, 2026

Excelsior: Opportunities In Growth-Oriented Silver Producers – Part 16

Excelsior’s latest newsletter spotlights growth‑oriented silver producers amid a surge in silver prices, which have hovered between the low $70s and low $90s per ounce. The metal is now trading at the highest average quarterly price ever recorded, driving heightened...

By The Hedgeless Horseman
Juggernaut Exploration Announces Bought Deal Private Placement Structured Flow-Through Financing for Gross Proceeds of C$10M
NewsMar 10, 2026

Juggernaut Exploration Announces Bought Deal Private Placement Structured Flow-Through Financing for Gross Proceeds of C$10M

Juggernaut Exploration Ltd. announced a bought‑deal private placement of 3,906,250 units at C$2.56 per unit, generating C$10 million in gross proceeds. Each unit comprises one common share and half of a share purchase warrant, both structured as flow‑through securities under the...

By The Hedgeless Horseman
Epithermal Gold-Silver and Porphyry Copper-Gold Potential Confirmed by Geophysical Survey Results at Swan Lake
NewsMar 10, 2026

Epithermal Gold-Silver and Porphyry Copper-Gold Potential Confirmed by Geophysical Survey Results at Swan Lake

Arctic Minerals announced that its late‑2025 induced‑polarisation (IP) geophysical survey at the Swan Lake project confirmed a strong positive IP anomaly coincident with a magnetic low, interpreted as the upper portion of a porphyry‑epithermal system. The anomaly sits within a...

By The Hedgeless Horseman
District Executes Contract for Airborne MobileMT Survey on Alum Shale Properties in Sweden
NewsMar 10, 2026

District Executes Contract for Airborne MobileMT Survey on Alum Shale Properties in Sweden

District Metals Corp. has signed a contract with Expert Geophysics Surveys to conduct a helicopter‑borne Mobile Magnetotellurics (MobileMT) survey over its Alum Shale licences in north‑central Sweden. The program will fly roughly 2,253 line kilometres at 400‑metre spacing with 4,000‑metre...

By The Hedgeless Horseman
Goliath Resources –Consolidated 2025 Drill Assays W/ Multi-Element Assays Increased Au-Only By 16.5%
NewsMar 10, 2026

Goliath Resources –Consolidated 2025 Drill Assays W/ Multi-Element Assays Increased Au-Only By 16.5%

Goliath Resources reported consolidated 2025 drill results from 110 holes at the Surebet Discovery on its Golddigger Property in British Columbia's Golden Triangle. Multi‑element assays showed a 16.5% increase in gold‑only grades compared with previous runs, while also highlighting copper...

By The Hedgeless Horseman
Cabral Gold Achieves Major Permitting Milestone with the Granting of the LP for Full Mining License at Cuiu Cuiu Gold...
NewsMar 10, 2026

Cabral Gold Achieves Major Permitting Milestone with the Granting of the LP for Full Mining License at Cuiu Cuiu Gold...

Cabral Gold Inc. announced that Pará’s Environmental Council (COEMA) has issued the Licença Prévia (LP) for a full mining license at the Cuiú Cuiú gold district in Brazil. The LP clears the most time‑intensive stage of Brazil’s permitting process, de‑risking...

By The Hedgeless Horseman
Amex Exploration Signs Exploration Agreement with Apitipi Anicinapek Nation of Ontario
NewsMar 6, 2026

Amex Exploration Signs Exploration Agreement with Apitipi Anicinapek Nation of Ontario

Amex Exploration Inc. has signed an Exploration Agreement with the Apitipi Anicinapek Nation (AAN) to collaborate on its Perron West, Abbotsford and Hepburn projects in Ontario. The deal creates a community fund tied to Amex's exploration spend and opens employment,...

By The Hedgeless Horseman
Irving Resources Announces Further Drilling Results at the Yamagano Joint Venture, Kyushu, Japan
NewsMar 6, 2026

Irving Resources Announces Further Drilling Results at the Yamagano Joint Venture, Kyushu, Japan

Irving Resources reported high‑grade gold assay results from drill hole 25SY-003 at the Yamagano joint venture in Kyushu, confirming an eastward extension of mineralized veins. The hole intersected multiple zones, including a 1.0‑metre interval grading 23.36 gpt Au and 9.12 gpt Ag,...

By The Hedgeless Horseman
BCM Resources Corp Hires Drillers for Upcoming Thompson Knolls Exploration Program
NewsMar 6, 2026

BCM Resources Corp Hires Drillers for Upcoming Thompson Knolls Exploration Program

BCM Resources Corp announced a fully‑funded 2026 drill campaign at its 100% owned Thompson Knolls porphyry‑skarn Cu‑Ag‑Au‑Mo discovery in British Columbia. The program contracts National EWP to operate a Schramm Epiroc 685 reverse‑circulation rig and TonaTec Exploration to run an...

By The Hedgeless Horseman
“When to Bet Big on Junior Mining Stocks with Investor Erik Wetterling”
NewsFeb 20, 2026

“When to Bet Big on Junior Mining Stocks with Investor Erik Wetterling”

Investor Erik Wetterling, known as The Hedgeless Horseman, breaks down why junior mining stocks remain undervalued despite recent market corrections after the VRIC event. He stresses patience, the "wall of worry" mindset, and the shift from gold‑silver focus to base‑metal...

By The Hedgeless Horseman
Massive Silver Assets One Stock To Watch | Eloro Resources TSX: ELO – OTCQX: ELRRF
NewsFeb 17, 2026

Massive Silver Assets One Stock To Watch | Eloro Resources TSX: ELO – OTCQX: ELRRF

Eloro Resources (TSX:ELO, OTCQX:ELRRF) is an exploration and mine‑development firm focused on the Iska Iska silver‑tin polymetallic property in Bolivia's Potosí Department. The company touts the deposit as a potential giant, citing high‑grade silver and tin mineralization. Eloro remains publicly...

By The Hedgeless Horseman