This page is a structured list of securities discussed for research purposes. It can function as a watchlist or model framework.
Entries emphasize the mechanism and the risk factors—rather than price targets.
Lower risk
Established producers
Operating mines, cash flow, and clearer cost structure (still subject to commodity-price and jurisdiction risk).
Medium risk
Small-cap / turnaround
More operational concentration, higher sensitivity to execution and news flow.
Higher risk
Development-stage
Pre-revenue timelines, permitting, financing/dilution risk, and higher geopolitical sensitivity.
Lower risk
Stock 1
Alamos Gold (AGI) — Established Canadian producer
Why it’s on the list: Management guidance indicates a potential production ramp over the next several years (guidance is not a guarantee).
The company has operating scale, cash-flow characteristics typical of an established producer, and a clearer cost framework.
Key operational notes (as described): AISC discussed in the ~$1,200–$1,300 range; meaningful capex planned to expand output toward a larger annual profile,
which can reduce near-term returns but may improve long-run earnings power if execution is strong.
Primary risks: execution risk on growth plans, commodity-price volatility, cost inflation, and the usual mining operational risks.
Lower risk
Stock 2
Fortuna Mining (FSM) — Gold/Silver hybrid
Why it’s on the list: A multi-asset producer with geographic diversification (Africa + South America, per your notes),
which can reduce single-country exposure versus a one-jurisdiction operator.
How to think about entries (framework, not advice): You referenced the “heartbeat” consolidation/breakout pattern and waiting for confirmation
(breakout levels / highest close). This is a monitoring framework rather than a recommendation.
Primary risks: jurisdictional and operational risk across multiple regions; commodity-price sensitivity; execution and cost control.
Medium risk
Stock 3
Galiano Gold (GAU) — Turnaround small cap
Why it’s on the list: Smaller market cap and “turnaround” characteristics can create asymmetric outcomes if the operating story improves.
You highlighted exploration spending and targeted underground potential with notable grade commentary.
What to watch: updated resource estimates, exploration results, and milestone delivery (these tend to move small caps disproportionately).
Primary risks: single-asset concentration, operational disruption risk, and higher volatility typical of small caps.
Higher risk
Stock 4
Newfound Gold (NFGC) — High-grade Canadian discovery
Why it’s on the list: You cited extremely high grades relative to typical gold operations and a development timeline that—if successful—
could be meaningful. High-grade discoveries can attract attention, capital, and strategic interest.
Primary risks: pre-revenue development (financing and dilution risk), timeline slippage, permitting, and the gap between discovery excitement and
economic mine development.
Higher risk
Stock 5
Vista Gold (VGZ) — Australian leverage play
Why it’s on the list: Single-asset development exposure can behave like “pure leverage” to the gold price under the right conditions.
You referenced a large, underdeveloped deposit and valuation sensitivity to gold-price assumptions.
Primary risks: no operating revenue, long timelines (late-decade execution), financing requirements, and the reality that commodity-price leverage cuts both ways.
Higher risk
Stock 6
New Pacific Metals (NEWP) — Bolivia silver development
Why it’s on the list: You framed this as the silver-side development exposure: large undeveloped projects can offer upside if silver is bullish
and the project de-risks. You also noted improving site control/security dynamics.
Primary risks: country/geopolitical risk (including nationalization history), community relations, and silver’s higher volatility versus gold.
This category can be high-upside but requires strict risk sizing and monitoring.
