Stijn Schmitz welcomes back John Feneck to the show. John Feneck is the CEO of Feneck Consulting Group. The discussion opens with the critical tungsten supply crunch, where China’s recent export restrictions, including cutting off Japan, highlight a severe imbalance. John notes that the U.S. has not produced tungsten since 2015, while 85% of global supply comes from China, Russia, and North Korea, posing risks for defense and technology. He sees potential in advanced North American projects, and mentions growing U.S. government interest in securing domestic production.

On precious metals, he views the recent sharp correction in silver and gold as a medium-term buying opportunity, with silver likely to hold around $50 after its parabolic rise, and gold’s long-term bullish case supported by large bank price targets despite near-term rate-hike uncertainties. He favors producers Silverco and Americas Gold and Silver for their strong plans and management conviction. Turning to copper, near all-time highs, John highlights the supply constraints from long permitting timelines and names Power Metallic, backed by 17 billionaires and exceptional drill results, and PTX Metals, which offers low-cost copper with a pending uranium spin-off. In critical minerals, he mentions Esport Critical for its rare earths, uranium, and copper assets, and First Tolerium for its innovative thermoelectric technology with potential defense and drone applications, showcased at the upcoming DARPA competition. John concludes by describing Feneck Consulting Group’s decade-long track record of providing actionable insights, real-time email updates, and investor conferences, emphasizing the value of independent, non-herd thinking in resource investing.

Timestamps:
00:00:00 – Introduction
00:00:42 – Tungsten Market Overview
00:02:47 – Global Supply Challenges
00:04:06 – North American Tungsten Projects
00:07:15 – Defense Applications Importance
00:11:55 – Precious Metals Transition
00:13:50 – Silver Price Analysis
00:16:40 – Gold Market Outlook
00:19:00 – Mining Stock Investments
00:22:30 – Copper Sector Opportunities
00:25:00 – Attractive Producers?
00:31:10 – Rare Earths and Emerging Tech
00:35:05 – Feneck Consulting Group

Guest Links:
X: https://x.com/feneckconsult
YouTube: https://youtube.com/feneckcommoditiesreport
LinkedIn: https://www.linkedin.com/company/feneckcommoditiesreport
E-Mail: mailto:john.feneck@yahoo.com
Website/Newsletter: https://www.feneckconsulting.com/

Ticker’s Discussed:
Gold: Triumph Gold (TSXV:TIG, OTCQB:TIGCF), Norsemont Mining (NOG, NRRSF). Silver: Silverco Mining (TSXV:SICO, OTCQB:SICOF), Americas Gold & Silver (USA, USAS). Tungsten: Guardian Metal Resources (NYSE:GMTL, OTCQB:GMTLF), Western Star Resources (CSE:WSR, OTCQB:WSRIF), Spartan Metals (W, SPRMF). Copper: Power Metallic (PNPN, PNPNF), PTX Metals (TSXV:PTX, OTCQB:PANXF). Special Situations: First Tellurium (FTEL, FSTTF), Eastport Critical (EVI, EVIIF).

John Feneck is CEO of Feneck Consulting Group. He began his career in 1992 as an equity analyst for Merrill Lynch’s global allocation fund. From 1993 to 2019 he held senior executive roles at Merrill Lynch Funds (now BlackRock) and J.P. Morgan Chase Funds, where he ranked #1 in gross and net sales once at Merrill Lynch and three times at J.P. Morgan (among 40 peers).

Since 2017 he has contributed articles to Kitco—becoming a regular contributor in 2021—and has appeared as a featured guest. He’s delivered over 250 client seminars and webinars, spoken at 12 global commodities events, and in 2017 joined Sprott’s precious metals portfolio-management team. There he developed a proprietary methodology combining technical analysis with direct insights from company management, advocating a “go anywhere” strategy and a diversified portfolio of 25–50 resource stocks to navigate the sector’s volatility.

In September 2019 he founded Feneck Consulting Group, helping small- and mid-cap metals and mining companies raise brand awareness and advising high-net-worth advisors on market opportunities and risks. He holds Series 7, Series 63, CMFC and CIMA Level 1 certifications (though he is not a licensed advisor) and focuses on consulting. Based in Scottsdale, AZ, he’s a single dad to an 11-year-old daughter and spends weekends as a professional musician, athlete and traveler.