Exploration geologist Jeff Pontius joins Kitco Mining’s Digging Deep with Paul Harris to discuss gold’s renewed momentum, Mackay Gold & Silver’s Comstock district opportunity in Nevada, major financings for explorers, the Barrick-Newmont Nevada agreement, African mining policy, and how the U.S. can rebuild domestic mining capacity.

Pontius says a US$4,000 gold base would be “exceptionally good” for producers and developers, especially with many companies producing around US$2,000 per ounce or lower. He says the recent pullback created a buying opportunity, while a less aggressive Fed and stronger broader market could support further gains into year-end. “I think we’ve got a good runway to go on,” he said.

Pontius also explains why he came out of pseudo-retirement to chair Mackay, comparing the consolidated Comstock district near Reno to Cripple Creek before modern district-wide exploration. He discusses Mackay’s 20,000-meter drill program, large oxide targets at surface, and why strong treasuries let explorers drill faster, test bigger ideas, and balance dilution against discovery speed. Pontius also weighs government ownership in African mining projects, spinouts, research funding, permitting reform, and flow-through-style tax incentives for U.S. exploration.

Recorded August 13, 2026.

Don’t forget to subscribe to the Kitco Mining & Kitco News YouTube channels to stay up to date on the latest industry news and interviews.

00:26 - Gold Finds a US$4,000 Floor
02:12 - Road to US$5,000 Gold
03:18 - Summer Volatility and Gold Pullback
05:17 - Why Jeff Pontius Joined Mackay
10:09 - Comstock Drill Plan and Targets
13:14 - Barrick-Newmont Nevada Deal
17:38 - Africa Gold Deals and Permits
18:28 - Government Ownership Debate
25:51 - Big Raises for Gold Explorers
28:58 - Treasury Size Versus Dilution
32:28 - Spinouts Done Right
35:40 - U.S. Mining Schools and Policy
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Kitco Mining is dedicated to reporting on the mining industry. Our mandate is to be the top resource for all mining information and news, offering a clear perspective on where the industry is going through breaking news coverage, mining trends, and in-depth reporting, presented with precious, rare earth, base metals, and industry stock prices.

Get important precious and base metal updates while on the go with the Kitco Gold LIVE! app - https://applications.kitco.com

Stay connected with us
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Connect with the Kitco Mining anchors
Paul Harris - https://x.com/paulharrisgold

For more in-depth mining coverage, visit us here - https://www.kitco.com/mining

Disclaimer: Videos are not trading advice, and the views expressed may not reflect those of Kitco Metals Inc.

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.

Neil Adshead, Consulting Geologist at the Commodity Discovery Fund, joins Kitco Mining’s Digging Deep with Paul Harris to break down U.S. critical minerals policy, the Barrick-Newmont Nevada Gold Mines agreement, gold-sector capital returns, and AI’s growing push into mining.

Adshead says U.S. support for critical minerals can help bring attention and talent back to the sector, but he questions whether taxpayer money should be used to pick company winners. He says broader tax incentives and stronger mining schools would do more to rebuild long-term capacity. “I’d rather see the free market determine where the capital goes,” he said.

Newmont’s US$1.95 billion payment to Barrick under the Nevada Gold Mines agreement raises fresh questions about Fourmile’s valuation and Barrick’s planned IPO of its North American gold assets. Adshead says the deal could prove a long-term win-win, while major producers continue to return billions through buybacks and dividends. He also weighs whether Newmont and Barrick sold key assets too soon, Hercules Metals’ new leadership team in Idaho, and Mariana Minerals’ US$310 million raise as a software-first critical minerals company.

Recorded August 11, 2026.

Don’t forget to subscribe to the Kitco Mining & Kitco News YouTube channels to stay up to date on the latest industry news and interviews.

00:00 - Welcome and Headlines
00:31 - Trump Critical Minerals Push
01:28 - Picking Winners vs Free Markets
04:24 - Funding U.S. Mining Schools
08:51 - Barrick-Newmont JV Deal
09:53 - Fourmile Valuation Debate
14:08 - Buybacks and Capital Returns
17:36 - Did Majors Sell Too Soon?
21:01 - Gold Sector Health Check
23:58 - Hercules Metals’ New Team
26:43 - Mariana’s AI Mining Bet
__________________________________________________________________

Kitco Mining is dedicated to reporting on the mining industry. Our mandate is to be the top resource for all mining information and news, offering a clear perspective on where the industry is going through breaking news coverage, mining trends, and in-depth reporting, presented with precious, rare earth, base metals, and industry stock prices.

Get important precious and base metal updates while on the go with the Kitco Gold LIVE! app - https://applications.kitco.com

Stay connected with us
X - https://x.com/KitcoMining
Instagram - https://www.instagram.com/kitcomining
LinkedIn - https://www.linkedin.com/company/kitco-mining
Facebook - https://www.facebook.com/KitcoMining

Connect with the Kitco Mining anchors
Paul Harris - https://x.com/paulharrisgold

For more in-depth mining coverage, visit us here - https://www.kitco.com/mining

Disclaimer: Videos are not trading advice, and the views expressed may not reflect those of Kitco Metals Inc.

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.

Christopher Ecclestone, Principal and Mining Strategist at Hallgarten + Company, joins Kitco Mining’s Digging Deep with Paul Harris to break down mining M&A, gold equity weakness, producer cash piles, copper dividends, lithium delays, and Ecuador’s gold sector.

Ecclestone takes a skeptical view of G Mining’s deal to acquire G2 Goldfields and the creation of G3 Goldfields, questioning whether repeated spinouts and recombinations create lasting value. He is more direct on Zijin Gold’s failed C$5.5 billion bid for Allied Gold, saying weaker gold prices and falling miner valuations changed the deal math.

Ecclestone says the Feb. 28 escalation in the Iran conflict disrupted a developing institutional rotation into mining, sending capital back toward AI and data centers instead. He also weighs cash versus bullion on producer balance sheets, dividends versus buybacks, Codelco and Rio Tinto’s delayed Maricunga lithium project, and Lundin Gold’s exploration success in Ecuador. With cheaper assets available, he says acquirers may not need to rush. “We've not seen the worst yet,” he said.

Recorded July 30, 2026.

Don’t forget to subscribe to the Kitco Mining & Kitco News YouTube channels to stay up to date on the latest industry news and interviews.

00:00 - Welcome and 100th Episode
00:32 - Guyana Deal Breakdown
06:47 - Zijin Walks From Allied
10:54 - Investor Lessons From Bust Deal
14:07 - Geopolitics Hits Metals
17:14 - Q2 Results and Cash Piles
19:58 - Gold on Balance Sheets
21:29 - Copper Dividends and Storms
24:34 - Chile Lithium Delay Debate
29:22 - Lundin Gold Ecuador Upside
__________________________________________________________________

Kitco Mining is dedicated to reporting on the mining industry. Our mandate is to be the top resource for all mining information and news, offering a clear perspective on where the industry is going through breaking news coverage, mining trends, and in-depth reporting, presented with precious, rare earth, base metals, and industry stock prices.

Get important precious and base metal updates while on the go with the Kitco Gold LIVE! app - https://applications.kitco.com

Stay connected with us
X - https://x.com/KitcoMining
Instagram - https://www.instagram.com/kitcomining
LinkedIn - https://www.linkedin.com/company/kitco-mining
Facebook - https://www.facebook.com/KitcoMining

Connect with the Kitco Mining anchors
Paul Harris - https://x.com/paulharrisgold

For more in-depth mining coverage, visit us here - https://www.kitco.com/mining

Disclaimer: Videos are not trading advice, and the views expressed may not reflect those of Kitco Metals Inc.

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.