Mining Stocks Could Have Much Further to Run | Don Durrett & John Feneck

Mining Stocks Could Have Much Further to Run | Don Durrett & John Feneck

Gold and silver mining stocks remain undervalued despite stronger producer margins and higher metals prices, according to Don Durrett and John Feneck, who see significant upside in mid-tier producers and select junior miners.

Speaking with Kitco Mining’s Paul Harris at Precious Metals Summit 2026 in Beaver Creek on September 24, Durrett, author and founder of GoldStockData, and Feneck, founder and CEO of The Feneck Commodities Report, explain why they believe mining equities have yet to reflect the sector’s improved cash flow. “I think the stocks right now are unbelievably cheap,” Durrett said. Using $7,000 gold and $200 silver in his valuation models, he sees speculative potential for 20- to 25-fold returns in selected stocks.

Both remain bullish on silver following its sharp correction, identifying $50 as a potential support level. Durrett favors holding miners for long-term gains, while Feneck actively trades around valuations and opportunity costs.

They also discuss recent developments involving Honey Badger Silver and Silver X, alongside takeover risks illustrated by the proposed Artemis Gold acquisition of Vista Gold. “we don’t get excited by 20 to 30% premiums,” Feneck said. Both investors explain their approaches to building portfolios across physical metals, ETFs, producers, developers and explorers.

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00:31 – Precious Metals Summit 2026: Investor Sentiment
01:08 – Why Don Durrett Sees Gold and Silver Miners as Undervalued
02:49 – Mid-Tier Gold Miners vs. Majors: Where Is the Upside?
04:44 – John Feneck vs. Don Durrett: Trading or Holding Miners
06:39 – Silver Price Outlook: $50 Support and $200 Targets
08:01 – Why Durrett Sees Gold at $10,000 and Silver at $200
11:46 – Mining Deals, Resource Updates and New Project Studies
12:29 – Honey Badger Silver, Silver X and Mining Opportunities
16:02 – Mining Takeovers: Artemis Gold, Vista Gold and Low Premiums
19:18 – Building a Gold and Silver Portfolio: ETFs, Miners and Bullion

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