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Clem Chambers: I Sold My Gold and Silver, What I’m Buying Next

Investing

Clem Chambers, CEO of aNewFN.com, explains why he sold his gold and silver, and where he’s looking next, mentioning the copper and oil sectors.

He also speaks about the importance of staying positive as an investor: ‘The media negativity is the most wealth-crushing thing you can fall for. So be positive. Work hard at it. Be on the front foot. Look for opportunities. Think hard about it. Study. You will do so well.’

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

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Domestic Metals: Investing in America’s Copper Future to Meet Critical Metal Demand

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Dubbed a “central bottleneck of the electrified future,” copper demand is expected to far exceed supply. A recent outlook from S&P Global projects the market could face a shortfall of up to 10 million metric tons by 2040.

Against this backdrop, Domestic Metals (TSXV:DMCU) offers a timely opportunity for investors. Listed on TSX Venture Exchange, OTCQB and Frankfurt Stock Exchange, the company is advancing its flagship Smart Creek Project in Montana, targeting discovery of a porphyry system and a carbonate replacement deposit (CRD).

Smart Creek’s potential is further bolstered by its proximity to significant discoveries like Ivanhoe Electric’s (NYSEAmerican:IE,TSX:IE) Hog Heaven project, which announced the intersection of a porphyry copper-gold-molybdenum system within a large, deep anomaly.

Company Highlights

  • Exceptional Surface Grades: The 2025 field campaign returned high-grade samples, highlighted by 102 g/t gold, 23.1 percent copper, and 3,810 g/t silver.
  • World-Class Team: Dr. Peter Megaw, a globally recognized authority on Carbonate Replacement Deposits (CRDs) and discoverer of MAG Silver’s Juanicipio, has joined the team to guide exploration, together with President & CEO Gordon Neal who has had a successful track record building MAG Silver and New Pacific Metals
  • Mining-Friendly Jurisdiction: Operations are focused in Montana, USA, a mining-friendly state ranked 6th in 2024 by the Fraser Institute for investment attractiveness, with a legacy of massive production at the nearby Butte Mine.

This Domestic Metals profile is part of a paid investor education campaign.*

Click here to connect with Domestic Metals (TSXV:DMCU) to receive an Investor Presentation

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Precious Metals Price Update: Gold, Silver, PGMs Boosted by Geopolitical and Trade Tensions

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Precious metals are recovering their safe-haven demand appeal this week.

Gold, silver and platinum are up this week, all still down from the all-time highs recorded in January. Escalating geopolitical tensions and US trade policy shifts are once again at center stage in this sector of the commodities market.

Let’s take a look at what’s got the precious metals moving over the past week.

Gold price

After dropping as low as US$4,400 per ounce on February 2, this past week gold has taken another run well above the key psychological US$5,000 mark; albeit still hundreds of dollars away from its record high of close to US$5,600 reached on January 28.

After trading in a tight range of US$4,985 to US$5,000 for much of Thursday (February 19), the price of gold managed to rise as high as US$5,107 on Friday. That upward climb continued on Monday (February 23) to an intraday high of US$5,248 — a level gold hasn’t seen in a month.

The yellow metal lost that steam by Tuesday’s close with the precious metal trading back down at US$5,143. By Wednesday morning, gold was once again making a run at the US$5,200 level to reach an intraday high of US$5,217.58 at 9:10 a.m. PST. However, it couldn’t hang on for long, sinking back down to US$5,166.25 as of 1:40pm PST on profit-taking and a stronger dollar.

Gold price chart, February 18, 2026 to February 25, 2026.

Here are the primary drivers for gold this past week:

      • Dips this week were brought on by slight downward pressure due to profit-taking and a stronger US dollar.

      In other gold news, JPMorgan Chase (NYSE:JPM) raised its gold forecast to US$6,300 by the end of 2026, citing a ‘reserve currency paradigm shift’ as countries diversify away from the dollar, and ‘significant investor diversification’.

      Looking at major events in the gold mining sector, Kinross Gold’s (TSX:K,NYSE:KGC) Great Bear development in the Red Lake district of Ontario, Canada, has been designated for a reduced permitting timeline under the provincial government’s One Project, One Process (1P1P) framework. 1P1P is a streamlined approval system aimed at reducing government review times by 50 percent. The high-grade, combined open-pit and underground operation is expected to produce more than 500,000 ounces of gold annually during its peak years.

      Silver price

      The price of silver is still well below its all-time high of more than US$120 per ounce it reached on January 29, 2026. For the most part, the white metal continued to track the same trends as gold this week.

      Like gold, silver traded sideways Thursday (February 19) in the US$77.50 to US$78.50 range, and then surged the following day to an intraday high of US$84.61.

      For most of Monday (February 23), silver continued higher but at a much slower pace, to reach as high as US$88.96. Tuesday brought another day of tight trading in the US$86.70 to US$88.10; however, by Wednesday morning the silver price had managed to break through the US$90 level on the same safe-haven demand forces pushing gold prices higher this week.

      The price of silver hit an intraday high of US$91.15 at 11:55am PST before sliding back down below US$89 in the afternoon session.

      Silver price chart, February 18, 2026 to February 25, 2026.

      Silver may still not be back into the triple digits, but its showing strong support despite a slump in artificial intelligence (AI) tech stocks. Silver, the most electrically and thermally conductive metal on the planet, is considered a key material for AI tech, particularly in data centers and high-performance computing. Silver is also in a structural supply deficit which continues to provide upward pressure on silver prices

      In silver mining news, Lundin Gold (TSX:LUG,OTCQX:LUGDF) announced a US$670 million silver stream deal with LunR Royalties (TSXV:LUNR) on its Fruta del Norte mine.

      Platinum price

      Platinum continues to be one of the top performing metals, reaching a 12-year high in recent weeks. This past week it has gained more than 8 percent. Sideways trading on Thursday (February 19) turned into an upward climb on Friday with prices for platinum rising from a low of US$2,060.10 to a high of US$2,117.40 per ounce.

      The first few days of this new week were marked by volatility with wider price swings. The platinum price reached a three week high of US$2,226.30 in late day trading Tuesday. The jump was driven by a combination of geopolitical tensions, trade uncertainty, and structural supply constraints.

      Platinum continued its ascent in overnight trading, reaching as high as US$2,360.50 in early morning trading, and managed to finish off the day just below the US$2,300 level.

      Platinum price chart, February 18, 2026 to February 25, 2026.

      Platinum prices are benefitting from renewed tariff jitters, geopolitical safe-haven demand, and persistent supply tightness from major producer South Africa.

      The emerging hydrogen economy is also adding to demand for the metal on top of robust demand from the auto sector. Consumers are shifting back toward internal combustion engine and diesel vehicles as hurdles to EV adoption remain challenging. This is highly supportive of demand for platinum as its primary use is in automotive catalysts.

      On the supply side, global platinum reserves remain critically low, especially as the world’s biggest producer South Africa continues to be plagued by power shortages and operational disruptions.

      In platinum mining news, Valterra Platinum declared a dividend of 45 rand a share for a total 2025 payout of 12 billion rand (US$757 million) after its net income more than doubled to 15.4 billion rand. Bloomberg reported that the size of the dividend “smashed analyst expectations as earnings jumped last year on soaring metals prices”.

      Palladium price

      Palladium has been the black sheep of the precious metals family for the past few years, remaining well below its March 2022 all-time record of US$3,440.76 per ounce.

      On Thursday (February 19), unlike its sister metals, palladium rallied 4.8 percent to an intraday high of US$1,767.50. The metal closed out last week with another nearly 3.9 percent gain to US$1,836.

      On Monday, palladium lost some of that ground to close out the day at US$1,820. After dipping to a low of US$1,763 in early morning trading on Tuesday, the price of the metal regained those losses and more by the end of the trading day reaching as high as US$1,843.

      Wednesday (February 25) morning brought a spike in palladium prices to US$1,935 as the metal went along for the same ride as platinum, before falling back to the US$1,860 level in afternoon trading.

      Palladium price chart, February 18, 2026 to February 25, 2026.

      As is the case with platinum, demand for palladium is getting support from the auto sector. Rising prices for platinum are leading automakers to make the swap to palladium.

      The US Department of Commerce’s preliminary statement of support for anti-dumping duties of approximately 133 percent on unwrought Russian palladium imports is still shaping the outlook for palladium on the supply side. This follows a petition from Sibanye-Stillwater (NYSE:SBSW) over allegations that Russian metal is being sold in the US at less than fair value. A final decision is expected in the case by June of this year.

      Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

      This post appeared first on investingnews.com

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      How to Invest in Gold Royalty and Streaming Stocks

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      Gold royalty companies offer investors exposure to gold and silver with the benefits of diversification, lower risk and a steady income stream.

      Royalty companies operating in the resource sector will typically agree to provide funding for the exploration or development of a resource in exchange for a percentage of revenue from the deposit if it begins producing. Similarly, a company with a streaming model may work out an agreement with a resource company for a share of the metal produced from a deposit in exchange for an investment.

      These kinds of arrangements benefit both parties. Streamers get access to the underlying commodity at a fixed price and are shielded from cost overruns and spikes in production. Further, if there is a price decrease the metals can be warehoused until the market conditions improve.

      In both cases, mining companies receive considerable upfront investment during the expensive construction and expansion phases, and unlike loans these investments have longer-term payouts at a fixed amount.

      Let’s take a deeper look at how royalties and streaming works, the benefits of the royalty business model, and the gold and silver royalty and streaming stocks you can invest in.

      In this article

        How do gold and silver royalties work?

        Gold and silver royalty agreements involve royalty companies agreeing to provide funding for the exploration or development of a precious metals resource in exchange for a percentage of revenue from the deposit if it begins producing metals.

        The foundation for royalties dates back a few hundred years. Originally, they were payments made to the British monarchy in exchange for miners’ rights to operate gold and silver mining operations on lands held by the crown. Today, these arrangements still exist, with mining operators paying the government a share of the revenues generated from exploiting resources on public lands.

        The first royalty paid to a company in the gold sector was an agreement in 1986 in which Franco-Nevada (TSX:FNV,NYSE:FNV) made a US$2 million investment into Western States Minerals’ Goldstrike small heap-leach mine in Nevada, US, for a 4 percent share of revenues collected from the mine. Western States was sold the same year to Barrick Gold (TSX:ABX,NYSE:GOLD). Barrick discovered a far larger resource at the site, and the royalty has since earned Franco-Nevada more than US$1 billion and continues to pay out approximately US$20 million per year.

        This early example set a precedent for the industry. It saw Franco-Nevada, which was then a gold exploration company, lock itself into what became one of the largest gold mineral resources in the world at a relatively low overhead while avoiding future costs associated with the growth and maintenance of the mine.

        How do gold and silver streams work?

        Gold and silver streams work in a similar manner to the royalty model but returns are in the form of physical metals rather than funds. In return for investing in an asset, a gold streaming company may work out an agreement with a resource company for a share of the metal produced from a deposit, or for the ability to purchase the metal at a lower price than market value.

        This is also a popular model with base metal mining companies whose operations result in gold and/or silver by-products. In these cases, gold and silver streaming companies may work out a deal with a base metal mining operation to take delivery of a certain amount of precious metals at an agreed upon price.

        The Goldstrike royalty made Franco-Nevada what it is today, but its largest contributing asset in its portfolio is a deal with Lundin Mining (TSX:LUN,OTC Pink:LUNMF) for a stream of the gold and silver resources extracted from its Candelaria copper mine in Chile.

        Under the terms of the deal, which was part of Lundin’s 2014 acquisition of Freeport-McMoRan’s (NYSE:FCX) stake in Candelaria, Franco-Nevada provided a US$648 million deposit in exchange for a 68 percent stream of the asset’s silver and gold. This will decrease to 40 percent once 720,000 ounces of gold and 12 million ounces of silver have been delivered.

        While Franco-Nevada does have to pay for the metal, the agreed upon amount is far under the current market value. At the time, the deal was set at US$400 for each ounce of gold and US$4 per ounce of silver with a 1 percent inflationary adjustment, or market price if that was less.

        Are royalty and streaming companies a good investment?

        Royalty and streaming companies are largely seen as a lower-risk investment than mining companies. Lower operational costs and higher portfolio diversification means they are hedged against a mine shutdown, natural disaster, market forces or the politics that may affect the nature of an operation or project. However, that’s not to say royalty and streaming deals aren’t without their risks.

        In many ways, gold royalty companies are like venture capitalists in the tech industry, working to fund many projects in the hopes that some will see big payoffs that offset the loss from the ones that don’t make it. This means they need large access to funding in order to build their portfolios.

        To get funding, royalty and streaming companies have several options: using cash on hand, raising debt through loans or issuing more shares. Each of these options carries risk. Using cash to pay for investments could reduce the size of the safety net and eat into company liquidity, debt needs to be managed to ensure that payments don’t exceed income and the issuance of stock could lead to an overall devaluation of share price and impact investor sentiment.

        Once companies have developed strong cash flows and good liquidity, they are able to take advantage of their own reserves, without the need to worry about loans or stock dilution. The same cannot be said for the up-and-coming companies who need to rely on external funding to make deals, making them riskier.

        These companies provide a good entry point for investors with lower share price, and have more potential to return higher percentage gains in share price, they also bear more risk. With more reliance on raising external capital, there is a greater need for deals to be successful and a greater chance for a company to incur more debt load or stock dilution.

        Diverse portfolios can help reduce the risk associated with a royalty company, and companies like Franco-Nevada have the industry knowledge and financial capital to take some risks. As of February 2025, the company has 430 assets on their books; of those, 119 are producing, and 38 are in the advanced stages of development. It’s the 273 more that are in the exploration phase, many of which will never provide returns, that represent the greatest risk.

        Of course, unforeseen events can affect both mining and royalty companies alike, particularly when assets that take up a larger percentage or a portfolio are affected. Franco-Nevada had more than US$1 billion invested in First Quantum’s (TSX:FM,OTC Pink:FQVLF) Cobre Panama mine before it was shuttered by the Panamanian government following protests at the end of 2023. The mine brought in US$223.3 million for Franco-Nevada in 2022 and represented nearly a quarter of its precious metal income. While it fared better than First Quantum, the royalty company’s share price took a significant hit.

        Top 5 gold and silver royalty companies

        The biggest companies in the precious metals royalty and streaming space have long histories and have built positive reputations on the backs of strong investments. They offer a means for investors to de-risk an entry into the gold sector by maintaining an arms-length attachment to it.

        The five large-cap gold and silver royalty and streaming companies on this list had market caps above $1 billion in their respective currencies as of February 24, 2026.

        1. Wheaton Precious Metals (TSX:WPM,NYSE:WPM)

        Market cap: C$96.95 billion
        Share price: C$215.66

        Wheaton Precious Metals was established in 2004 as Silver Wheaton with a focus on silver streaming. Goldcorp held a majority interest, but began to reduce it in 2006 and by 2008 had completely divested itself. By that time, Silver Wheaton had begun to diversify into other precious metals. The following year, Silver Wheaton acquired rival silver streaming stock Silverstone Resources in a C$190 million deal.

        Silver Wheaton changed its name in 2017 to Wheaton Precious Metals and has since built itself into one of the largest players in the gold and silver royalty and streaming space, with investments in 23 operating mines and 25 development projects across five continents.

        Included in Wheaton’s assets are investments in Newmont’s (TSX:NGT,NYSE:NEM,ASX:NEM) Peñasquito mine in Mexico, Sibanye Stillwater’s (NYSE:SBSW) Stillwater and East Boulder mines in Montana, United States, and Hudbay Minerals’ (TSX:HBM,NYSE:HBM) Copper World Complex project in Arizona, US.

        2. Franco-Nevada (TSX:FNV,NYSE:FNV)

        Market cap: C$71.55 billion
        Share price: C$374.47

        A trailblazer in the gold royalty business, Franco-Nevada has set a high bar. The current iteration of the company was spun out of Newmont in what became a C$1.1 billion initial public offering, one of the biggest IPOs of 2007.

        Franco-Nevada now has a portfolio of royalties and streams on 119 producing assets around the world including gold, silver, base metal and oil and gas operations, which generate more than US$1.2 billion for the company annually. Additionally, the company’s portfolio includes 38 advanced-stage assets and 273 exploration-stage assets.

        Among the producing assets for which Franco-Nevada has precious metals streams and royalties are Glencore’s (LSE:GLEN,OTC Pink:GLCNF) Antapaccay mine in Peru, Agnico Eagle’s (NYSE:AEM,TSX:AEM) Detour Lake mine in Ontario, Canada, and Gold Fields’ (NYSE:GFI) Salares Norte mine in Chile.

        See the sections above for more information on Franco-Nevada’s royalty and streaming deals.

        3. Royal Gold (NASDAQ:RGLD)

        Market cap: US$24.43 billion
        Share price: US$288.04

        Royal Gold got its start in 1981 as oil and gas exploration and production company Royal Resources.

        Responding to shifts in the overall resource market, by 1987, Royal Gold was born with a focus on building a portfolio of minority positions in significant gold properties operated by major mining firms.

        Today, Royal Gold is a leading precious metals streaming and royalty company with interest in about 400 properties, of which 82 are producing assets, across 31 countries.

        About half of its portfolio came from its October 2025 acquisition of Sandstorm Gold and Horizon Copper, which combined for 230 royalty assets, including 40 producing assets.

        Among Royal Gold’s royalty assets are Barrick Mining (TSX:ABX,NYSE:B) and Newmont’s Cortez mine in Nevada, US, Teck’s (TSX:TECK.A,TECK.B,NYSE:TECK) Andacollo mine in Chile and Centerra Gold’s (TSX:CG,NYSE:CGAU) Mount Milligan mine in British Columbia, Canada.

        4. Triple Flag Precious Metals (TSX:TFPM)

        Market cap: C$10.96 billion
        Share price: C$53.67

        Triple Flag Precious Metals was founded in 2016 by Shaun Usmar, a former Barrick executive and current CEO of Vale’s (NYSE:VALE) Vale Base Metals.

        Although the company is a relative newcomer to the royalty and streaming space, it has quickly established itself as a frontrunner through several significant deals. Among them was the acquisition of Maverix Metals in January 2023, which helped them become the fourth-largest precious metals royalty company.

        Today, Triple Flag has a global portfolio of gold and silver assets on nearly every continent, comprising 33 production assets and 206 in development or exploration.

        Highlights from its portfolio include streaming and royalty deals on Evolution Mining’s (ASX:EVN,OTC Pink:CAHPF) Northparkes mine in New South Wales, Australia, Nexa Resources’ (NYSE:NEXA) Cerro Lindo mine in Peru, and Westgold Resources’ (ASX:WGX,OTC Pink:WGXRF) Beta Hunt mine in Western Australia.

        5. OR Royalties (TSX:OR,NYSE:OR)

        Market cap: C$11.49 billion
        Share price: C$62.31

        Previously named Osisko Gold Royalties, OR Royalties was created in 2014 as a spinoff deal between Osisko Mining (TSX:OSK), Yamana Gold and Agnico Eagle Mines (TSX:AEM,NYSE:AEM). The deal was made in an attempt to prevent a hostile takeover of Osisko Mining and its Canadian Malartic gold complex by Goldcorp, now part of Newmont.

        In the deal, OR Royalties carried with it a 5 percent net smelter return royalty from the Canadian Malartic mine. Now owned by Agnico Eagle, the complex in Québec remains a cornerstone of the royalty company’s business today.

        The gold and silver royalty and streaming company has gone on to amass royalties, streams and offtakes for 195 assets, 22 of which are producing, across six continents.

        The majority are located in North America, including one of the most well-known gold-producing mines in the world, Agnico Eagle’s Canadian Malartic complex in Québec, as well as SSR Mining’s (NASDAQ:SSRM,TSX:SSRM) Seabee mine in Saskatchewan, Canada, and Kinross Gold’s (TSX:K,NYSE:KGC) Bald Mountain mine in Nevada.

        Small-cap gold and silver royalty companies

        There are also small-cap gold and silver royalty and streaming companies you can invest in and offer a lower-cost option for investors who are comfortable with a little more risk. Like their larger counterparts, small-cap gold royalty stocks offer a lower-risk investment than getting into a small-cap mining company but still provide access to the underlying precious metals market.

        The five small-cap gold and silver royalty companies on this list had market caps above $10 million in their respective currencies as of February 24, 2026.

        1. Gold Royalty (NYSEAMERICAN:GROY)

        Market cap: US$1.04 billion
        Share price: US$4.59

        Gold Royalty is building a diversified portfolio of more than 240 gold royalty and gold streaming interests based on net smelter return royalties on properties in the Americas.

        The company’s revenue generating investments include Agnico Eagle’s Canadian Malartic complex in Québec, DPM Metals’ (TSX:DPM) Vareš mine in Bosnia and Herzegovina, and Discovery Silver’s (TSX:DSV,OTCQX:DSVSF) Borden mine in Ontario.

        2. Metalla Royalty & Streaming (TSXV:MTA,NYSE:MTA)

        Market cap: C$1.04 billion
        Share price: C$11.67

        Metalla Royalty & Streaming focuses on gold, silver and copper projects. The company’s royalty model involves acquiring royalties and streams by offering resource companies Metalla shares and cash.

        The mid-tier royalty and streaming company’s asset portfolio includes more than 100 projects across North America, South America and Australia. Its cornerstone assets include IAMGOLD (TSX:IMG,NYSE:IAG) and Sumitomo Metal Mining’s (OTC Pink:SSUMF,TSE:5713) Côté gold mine in Ontario, Canada, and First Quantum Minerals’ (TSX:FM) Taca Taca project in Argentina.

        3. Vox Royalty (TSX:VOXR,NASDAQ:VOXR)

        Market cap: C$518.16 million
        Share price: C$7.81

        Vox Royalty is a precious metals focused royalty company first established in 2014. The company has acquired an asset portfolio of 70 royalties, 32 of which were added since 2019, across Australia, the Americas and South Africa.

        Roughly 70 percent of its portfolio is dedicated to gold, silver and platinum group companies. The remainder of its portfolio is diversified across a wide range of resources, including copper, uranium, iron and diamonds.

        The majority of the eight producing assets in its portfolio are located in Australia, including a 1 percent net smelter return from Black Cat Syndicate’s Bulong gold mine, and a 2.5 percent net smelter return from Northern Star Resources’s (ASX:NST,OTCPL:NESRF) Otto Bore gold mine.

        As for development stage projects, its assets in Canada include a 1 percent net smelter return on NexGold Mining’s (TSXV:NEXG,OTCQX:NXGCF) Goldlund project and a 2 percent gross proceeds royalty on Alamos Gold’s (TSX:AGI,NYSE:AGI) Lynn Lake project in Canada.

        4. Sailfish Royalty (TSXV:FISH,OTCQX:SROYF)

        Market cap: C$324.08 million
        Share price: C$3.79

        Founded in 2014, Sailfish Royalty’s asset portfolio is much smaller than the other gold royalty stocks on this list. It consists of one producing mine as well as two development-stage and two exploration-stage properties in the Americas.

        In Nicaragua, Sailfish has a gold stream equivalent to a 3 percent net smelter return on Mako Mining’s (TSXV:MKO,OTCQX:MAKOF) San Albino gold mine and a 2 percent net smelter return on the area surrounding the mine. The company also holds a 13,500 ounce per quarter silver stream at the property, which was set to expire in May 2025. At the end of April 2025, Sailfish chose to exercise its option to purchase all silver for the life of the mine.

        5. Nations Royalty (TSXV:NRC,OTCQB:NRYCF)

        Market cap: C$160.68 million
        Share price: C$1.16

        Nations Royalty is a fledgling royalties company that first began trading in June 2024 and holds Indigenous-owned royalties. It was founded by the Nisga’a Nation of British Columbia, Canada, and by Wheaton Precious Metals co-founder Frank Giustra. It is the first publicly traded company in Canada to have a majority Indigenous ownership.

        The company has a portfolio of royalties covering one production and four development assets, all located in Northwestern British Columbia. The majority of these royalties are in the form of annual payments equal to a percentage of the mineral tax the assets’ operators pay.

        The producing mine in its portfolio is Newmont’s (NYSE:NEM,ASX:NEM) Brucejack gold-silver operation. The four development assets consist of Ascot Resources’ (TSX:AOT,OTCID:AOTVF) Premier and Red Mountain projects, Seabridge Gold’s (TSX:SEA,NYSE:SA) KSM project and New Moly’s Kitsault molybdenum project.

        Gold and silver royalty ETFs

        Those who want more broad exposure to the precious metals markets may want to buy shares of an exchange-traded fund that includes gold and silver royalty and streaming stocks. Here are a few to get you started, including ASX gold ETFs and a US gold ETF.

        Betashares Global Royalties ETF (ASX:ROYL)
        The Betashares Global Royalties ETF is an Australian ETF that tracks the performance of an index of global companies that earn a significant amount of their revenue from royalty income, royalty-related income and intellectual property income. The fund’s top two holdings are Wheaton Precious Metals and Franco-Nevada, with Royal Gold and OR Royalties also among its significant holdings.

        Betashares Global Gold Miners ETF (ASX:MNRS)
        The Betashares Global Gold Miners ETF tracks the performance of an index of the world’s largest gold mining companies outside of Australia, hedged into Australian dollars. Wheaton Precious Metals, Franco-Nevada and Royal Gold are also among the fund’s top holdings.

        VanEck Gold Miners ETF (ARCA:GDX)
        The VanEck Gold Miners ETF is a US gold ETF that aims to replicate the performance of the MarketVector Global Gold Miners Index by holding large-cap gold mining stocks and precious metals royalty companies. As with the other gold ETFs on this list, its top holdings include Franco-Nevada, Wheaton Precious Metals and Royal Gold.

        Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

        This post appeared first on investingnews.com

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        Blackstone Minerals

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        Investor Insights

        Blackstone Minerals, through its subsidiary Crescent Mining and Development Corporation (CMDC) is focused on the Mankayan copper-gold project, an advanced exploration project in the Philippines. Mankayan is one of Southeast Asia’s largest undeveloped copper-gold porphyry, offering leveraged exposure to tightening global copper supply and increased copper demand.

        Overview

        Global decarbonization and electrification are driving sustained growth in copper demand, while new, large-scale copper discoveries remain scarce and development timelines lengthen. Long-life, high-quality copper projects with scale, grade, and infrastructure access are increasingly strategic and required to meet this future demand.

        Historical Drilling Results at Mankayan

        Blackstone Minerals (ASX:BSX), through CMDC, is advancing the Mankayan Copper-Gold Project in the Philippines following its merger with IDM International.

        Mankayan stands out for its size, grade, and geological continuity, supported by extensive historical drilling and proximity to existing infrastructure. These attributes underpin a flexible development pathway and potential for long-life production.

        As part of a strategic move, Blackstone has streamlined its asset base to prioritize Mankayan. A previously advanced nickel project in Vietnam is now subject to a binding strategic agreement with a local partner, materially reducing holding costs while allowing management and capital to be focused on the Company’s copper-gold strategy.

        Company Highlights

        • Flagship Copper-Gold Asset: Mankayan is a globally significant copper-gold porphyry system with a large 793 million tonne JORC-compliant resource.
        • Indigenous Approval – The Mankayan Project holds a 25-year Mineral Production Sharing Agreement and has completed the social license with an FPIC finalized and a MoA in place.
        • Scale and Development Optionality: A large, continuous mineral system supporting both staged, higher-grade development and long-life bulk mining scenarios.
        • Established Mining District: Located in Northern Luzon, Philippines, near existing mining operations and infrastructure.
        • 2026 Clear and focused roadmap: to derisk the Mankayan Project by advancing its Pre-Feasibility Study.
        • Strengthened Leadership: Strong in-country team along with recent Board and management appointments enhance technical, operational, and regional capability.
        • Strong Copper Leverage: Copper is a critical metal for electrification, renewable energy, and grid infrastructure, with long-term supply constraints supporting project optionality.

        Key Project

        Mankayan Copper-Gold Project – Philippines

        The project is located in the prolific mineral belt of Northern Luzon, approximately 340 km north of Manila by road and around 2.5 km from the operating Lepanto gold mine and the Far Southeast project area.

        Mankayan is one of the largest undeveloped copper-gold porphyry systems in Asia, extending over approximately 1,100 metres of strike and 600 metres of width, with mineralisation open along strike and at depth.

        More than 56,000 metres of historical diamond drilling support a JORC compliant (2012) mineral resource estimate of 793 million tonnes at 0.35 percent copper and 0.38 grams per ton (g/t) gold, equivalent to 0.65 percent copper equivalent (CuEq*) at a 0.25% CuEq cut-off. Within this, a high-grade core of 170 million tonnes at 0.48 percent copper and 0.58 g/t gold, 0.93 percent (CuEq*) at a 0.8 percent cutoff provides potential for staged development scenarios.

        Notable historical intercepts include:

        • 911 m at 1.00 percent CuEq, including 253 m at 1.43 percent CuEq
        • 543 m at 1.08 percent CuEq, including 277 m at 1.43 percent CuEq
        • 1,119 m at 0.86 percent CuEq, including 352 m at 1.15 percent CuEq
        • 754 m at 1.03 percent CuEq, including 430 m at 1.21 percent CuEq

        Recent field activities have identified additional surface copper-gold mineralisation proximal to the main deposit, with rock-chip samples returning up to 6 g/t gold and 1.9 percent copper, highlighting further exploration upside across the broader project area.

        CMDC is in the process of commencing a pre-feasibility study encompassing various mining scenarios and environmental studies.

        Management Team

        Geoff Gilmour – Executive Chairman

        Appointed following Blackstone’s merger with IDM, Geoff Gilmour brings more than 30 years of distinguished leadership in the junior resources sector, with a proven track record of value creation. His career includes senior executive roles as Managing Director of Amex Resources, Brightstar, and Rift Valley Resources, and is highlighted by the successful creation of Andean Resources.

        Gilmour has also served as chairman of IDM, where he played a pivotal role in advancing the Mankayan Project and leading the company through its merger with Blackstone Minerals. He currently serves as a director of Blackstone Minerals Ltd, continuing to drive strategic growth and development.

        Oliver Cairns –Non-executive Director

        Oliver Cairns brings key, hands-on experience to the company’s flagship Mankayan project in the Philippines and was part of the IDM International team that was responsible for the acquisition and management of the Mankayan project before the merger with

        Blackstone in June 2025. He has deep familiarity with the Mankayan asset, including four years of actively working with the in-country team. In addition, Cairns offers more than 25 years of strategic corporate, IR and commercial experience.

        Greg Cunnold – Non-executive Director

        Greg Cunnold is a geologist with over 30 years of experience in the evaluation, exploration, and development of mineral deposits. Cunnold has worked on base and precious metals deposits, bulk commodities, rare earth elements, industrial minerals, and critical mineral projects. His assignments have spanned the globe, including Africa, Asia, Australia, Europe, and South America.

        Over the years, Cunnold has played a pivotal role in numerous projects, contributing to the discovery, delineation, and development of valuable mineral deposits. His expertise ranges from grassroots exploration through to definitive feasibility studies. Cunnold is a Competent Person as defined by the JORC and NI 43-101 codes and has served corporately as a board member of private, public unlisted, and listed companies.

        Mark Williams – Non-executive Director

        Mark Williams’ career in the mining industry spans more than three decades and includes operational experience across a diverse range of assets in both mature and emerging global markets, with extensive in-country experience in the Philippines.

        Most recently, Williams led mid-tier Australian gold producer Red 5 Limited (ASX: RED) for 10 years, overseeing an operational turnaround of its foundational asset in the Philippines, the Siana Gold Project, before initiating a transformational pivot to the West Australian goldfields through the acquisition, financing, development, construction and operation of the King of the Hills Gold Mine growing Red 5 to a $1.5 billion company in 2024 prior to its merger with Silver Lake Resources.

        James Bahen – Company Secretary

        James Bahen is a director and equity partner of SmallCap Corporate. He commenced his career in audit and assurance with an international chartered accounting firm. He is currently a non-executive director and company secretary to a number of ASX-listed companies and has a broad range of corporate governance and capital markets experience. Bahen is a member of the Governance Institute of Australia and holds a Graduate Diploma of Applied Finance and a Bachelor of Commerce degree majoring in accounting and finance.

        This post appeared first on investingnews.com

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        Red Mountain Mining Continues to Advance the United States Critical Minerals Portfolio

        Investing

        Red Mountain Mining Limited (ASX: RMX, US CODE: RMXFF, or “Company”), a Critical Minerals exploration and development company with an established portfolio in Tier-1 Mining Districts in the United States and Australia, is pleased to announce an update on the Company’s portfolio of high-quality Antimony projects in the United States.

        Over the past six months, Red Mountain has moved decisively to acquire assets in Tier-1 regions in highly prospective antimony mineral districts in Montana, Utah and Idaho, USA, placing the Company in a strong strategic position as the US Government moves aggressively to secure domestic supply of Antimony which is classified as a Critical Metal by the United States and Australian Governments.

        HIGHLIGHTS:

        • Red Mountain continues to deliver repeated successful project and development programs across its high-quality Critical Minerals portfolio, systematically advancing its United States and Australian projects toward development and directly supporting the US Government’s drive to secure domestic supply of critical metals

        Thompson Falls Antimony Project, High-grade Antimony next to UAMY Antimony Smelter

        • Thompson Falls Antimony Project is 4.2km from the operations of United States Antimony Corporation (NYSE: UAMY; Market Cap $A1.5 billion), with the country’s only operating Antimony smelter
          • Initial sampling from Red Mountain’s Thompson Falls Project returned high-grade values of up 36.5% Sb and 0.65g/t Au
          • Additional assay results are now expected to be received by the end of February
        • Comprehensive surface mapping and sampling program to fast-track the definition of the Thompsons Falls Antimony Project resource potential, planned to launch next month
        • Red Mountain has recently strengthened its US technical team with dedicated drill-permitting expertise, driving the permitting process forward across all of the Company’s US Projects

        Utah Antimony Project, Antimony Mining District

        • Utah Antimony Project adjoins American Tungsten and Antimony Ltd’s (ASX: AT4; Market cap A$200 million) Antimony Canyon Project (ACP), one of the largest and highest-grade Antimony projects in the USA, which has reported assays of up to 33% Sb and has a defined conceptual Exploration Target of 12.8 to 15.6 Mt @ 0.75% to 1.5% Sb, containing between 96,000 to 234,000 tons of Antimony metal
          • Recent visible stibnite mineralisation observed between AT4’s claims and RMX’s project provides evidence the ACP system may extend into the Utah Antimony Project*
          • Mapping analysis previously undertaken by RMX suggests that both the same type of host rocks and extensions of the large epithermal Antimony mineralising system targeted by AT4 at Antimony Canyon are present within the Utah Antimony Project**

        Exceptionally Strong Antimony results from Thompson Falls and further assays pending

        Red Mountain acquired the Thompson Falls Antimony Project on 5 February1, next to the only operating antimony smelter in the USA, US Antimony Corporation’s (NYSE: UAMY; Market Cap ~AU$1.5 billion) Thompson Falls Smelter and UAMY’s Stibnite Hill Mine in Montana (Figure 1).

        First-pass exploration of Red Mountain’s Thompson Falls Antimony Project, by the Company’s US field team, successfully located three historical underground mines and pit within the project area. Initial sampling of material from Eastern Star returned multiple samples with high antimony and gold results, with peak results of 36.5% Sb and 0.65g/t Au1 (Figure 1; Figure 2).

        Samples collected from Eastern Star closely resemble the quartz-stibnite veins mined at UAMY’s Stibnite Hill deposit, ~7km east of Red Mountain’s Thompson Falls Project area, although these veins are not recorded as producing gold. Red Mountain’s field team also collected additional rock samples from the project area, with assay results expected this month.

        Click here for the full ASX Release

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        Crypto Market Update: Trump’s Tariff Reset Jolts Bitcoin Below US$65,000

        Investing

        Here’s a quick recap of the crypto landscape for Monday (February 23) as of 9:00 p.m. UTC.

        Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.

        Bitcoin (BTC) was priced at US$64,409.84, down by 4.4 percent over the last 24 hours.

        Bitcoin price performance, February 23, 2026.

        Chart via TradingView.

        XS.com senior market analyst Linh Tran suggested that the medium-term uptrend is limited without major catalysts. She predicts that Bitcoin will fluctuate between US$65,000 support and US$70,000 resistance; however, if current pressures persist, there is a risk of Bitcoin retesting the US$60,000 low, which could trigger a deeper decline.

        Software stocks slipped alongside a further decline in crypto prices after Anthropic said its Claude platform can help ‘break the cost barrier to COBOL modernization,’ a high-level, compiled computer programming language that the firm says ‘runs in production every day, powering critical systems in finance, airlines, and government.’

        Ether (ETH) was priced at US$1,860.34, down by 4.1 percent over the last 24 hours.

        Altcoin price update

        • XRP (XRP) was priced at US$1.36, down by 2 percent over 24 hours.
        • Solana (SOL) was trading at US$78.37, down by 5.6 percent over 24 hours.

        Today’s crypto news to know

        Yield Basis thrives on market volatility

        Some parts of the DeFi ecosystem have benefited from the chaos of Bitcoin’s sudden price drop in January, which liquidated billions of dollars’ worth of positions. A DeFi project called Yield Basis, which helps people trade Bitcoin and Ether through its liquidity pools, says it’s handled US$769 million in trades since the beginning of 2026, with more than half occurring after January 28, when crypto prices began swinging wildly.

        According to a recent report, the protocol has collected US$12.15 million in fees since it launched its v2 pools in November 2025, compared to US$5.31 million worth of tokens it paid out as rewards, leaving about US$6.84 million in net profit for the users providing liquidity and holding the project’s tokens.

        Open-source AI project distances itself from crypto

        An open-source AI agent framework known as OpenClaw has inadvertently become the center of a crypto controversy. The project, built to power autonomous agents capable of browsing the web and executing complex tasks, was briefly rebranded amid a naming dispute before scammers launched a fake Solana-based token using its former branding.

        The token’s market capitalization surged to roughly US$16 million within hours before collapsing more than 90 percent after developer Peter Steinberger disavowed any connection.

        Steinberger publicly rejected the speculation, writing on X: “To all crypto folks: please stop pinging me, stop harassing me. I will never do a coin. Any project that lists me as coin owner is a SCAM.”

        USDT contraction flashes rare stress signal

        Tether’s USDT stablecoin is signaling liquidity strain reminiscent of the market turmoil following the FTX collapse.

        According to CryptoQuant, the 60 day change in USDT supply has dropped to negative US$3 billion, which marks only the second time such a contraction has occurred. Bloomberg reported that USDT is on pace for its steepest monthly supply decline since December 2022, already shrinking by roughly US$1.5 billion in February alone.

        Large-scale redemptions typically suggest institutions or major holders are pulling capital out of the crypto ecosystem rather than simply rotating between tokens. The last comparable contraction came as Bitcoin fell toward US$16,000 during the FTX crisis before stabilizing and beginning a multi-year recovery.

        Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

        Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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        Mining’s New Reality: Strategic Nationalism, Gold Records and a Fractured Cost Curve

        Investing

        The era of “smooth globalization” is over, and mining is entering a more fragmented, politically charged phase defined by strategic nationalism, according to speakers at S&P Global’s latest webinar.

        Jason Holden, who opened the “State of the Market: Mining Q4 2025” session with a macro overview, said the industry is operating in a world increasingly shaped by supply chain security and state intervention.

        “For decades we operated under a model of frictionless trade,” said Holden, a senior mining analyst at the firm. “That era is over. We’ve entered a world of strategic re-nationalization.”

        While the base economic outlook remains resilient, with moderate growth and easing headline inflation, Holden warned that “sticky core inflation remains stubbornly high.”

        For mining companies, that has two major implications: higher capital costs and less room for the easy-money valuation surges seen in past cycles. Central banks, led by the US Federal Reserve, are no longer aggressively tightening, but are also not on a clear-cut path to interest rate cuts.

        “We’re no longer on a predictable path of easing,” Holden explained to listeners. “The market is now focused on if and when cuts might resume.” At the same time, geopolitical disputes are increasingly spilling into trade policy. The conversation around critical minerals, he noted, has shifted decisively.

        “It’s no longer just about economics,’ said Holden. “It’s explicitly framed as national security.”

        That shift is driving greater government intervention, subsidies, capital screening and “friend-shoring,” where materials are sourced from politically aligned nations.

        Gold’s insurance premium

        Nowhere has geopolitical risk been more visible than in gold.

        The metal surged to fresh highs in early 2026 after setting 40 new records in 2024 and 53 more in 2025, a pace not seen since 1979. The price briefly pushed beyond US$5,500 per ounce at the start of the year.

        “The message from this price action is unmistakable,” Holden said. “In an uncertain world, the market is paying a premium for insurance, and gold is the ultimate safe asset.”

        While short-term flashpoints helped fuel the rally, the structural driver has been central bank buying. Since sanctions in 2022 prompted reserve managers to rethink US dollar exposure, official sector purchases have accelerated.

        “The sustained buying from central banks is the real engine behind the rally,” Holden said.

        S&P’s base case sees gold averaging US$4,247 per ounce in 2026, with upside potential toward US$6,000 by 2027 in a more bullish scenario.

        Copper tightness, nickel politics

        Luiz Amaral from S&P’s exploration team said copper ended 2025 on strong footing, with London Metal Exchange (LME) prices reaching US$12,500 per metric ton in December.

        Supply-side tightness, a weaker US dollar and copper’s growing role in electrification supported prices. The US decision to formally list copper as a critical mineral reinforced its strategic importance.

        S&P has lifted its 2026 copper price forecast to US$11,400 per metric ton, projecting a 543,000 metric ton concentrate deficit next year. However, the refined market is expected to move into surplus later in the decade as new smelter capacity ramps up. Longer term, the concentrate picture darkens again.

        “Our base case shows a 3 million metric ton shortfall by 2036,” Amaral said.

        Nickel’s recent rally, by contrast, has been driven more by policy than fundamentals. The price broke above US$18,000 per metric ton in January after Indonesia reduced its 2026 production quota.

        “The market is responding emotionally to policy updates,” Amaral said, noting that despite the rally, the broader market remains in surplus and LME inventories are building.

        Lithium rebounds amid persistent surplus

        Lithium prices have also staged a sharp rebound, rising 57 percent in China between mid-December and mid-January on renewed demand optimism and supply concerns. Yet S&P expects the market to remain oversupplied for most of the decade, with deficits not emerging until the early 2030s.

        New supply from Australia, Latin America and China continues to outpace demand growth, even as electric vehicles account for roughly 75 percent of lithium consumption through 2035.

        Diverging margins

        At the mine level, gold producers are enjoying some of the strongest margins in years, with prices rising faster than all-in sustaining costs. Silver has outperformed even more dramatically, climbing 154 percent in 2025 versus gold’s 71 percent gain, compressing the gold-silver ratio to below 70.

        Battery metals face a tougher backdrop.

        “Lithium and nickel continue to face margin pressure as prices lag elevated costs amid oversupply,” said Monica Ramirez from S&P’s mine economics and emissions team.

        Across 12 metals analyzed, S&P sees a structurally higher cost environment emerging due to inflation, energy expenses and maturing ore bodies. Precious metals retain the strongest buffers, while copper remains positive but increasingly sensitive at the upper end of the cost curve.

        Exploration at a crossroads

        Despite record prices in some commodities, exploration spending tells a more cautious story.

        Global exploration budgets totaled US$12.4 billion in 2025, down 1 percent year-on-year. Adjusted for inflation, spending has slipped back to levels last seen nearly two decades ago.

        “Gold continues to dominate,” Amaral said, accounting for roughly half of global exploration budgets. Lithium, once a standout, saw budgets fall nearly 50 percent amid weaker prices.

        More concerning is the structural shift away from grassroots exploration.

        In the mid-1990s, two-thirds of spending targeted generative programs. Today, that share has fallen to a record low as companies prioritize near-mine and late-stage work.

        “We are underinvesting at the very front end of the supply chain,” Amaral warned. Without renewed grassroots spending, the long-term discovery pipeline could suffer.

        M&A: Quality over quantity

        Mining M&A remained active into late 2025, though deal value normalized after earlier mega-mergers. Transaction value fell 45 percent quarter-on-quarter to US$16.1 billion, but deal count rose to its highest level in more than five years.

        Gold led activity, with buyers focusing on large-scale, long-life assets in low-risk jurisdictions.

        “Gold M&A today is no longer about simple volume growth,” Ramirez emphasized to viewers. “It’s about asset quality, jurisdictional safety and durable cashflow.”

        As the webinar made clear, mining is navigating a landscape defined by geopolitical risk, tighter capital and structural cost pressures. For companies able to secure high-quality assets and control costs, opportunities remain, but the margin for error is narrowing.

        Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

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