Recorded on June 11 2026 at NRS Studios
Jeff Clark, founder of The Gold Advisor, joins Steve Yang on Natural Resource Stocks for a deep conversation on gold, silver, junior mining stocks, uranium, copper, lithium, and where investors may be in the commodity supercycle. Jeff explains why he believes the easy money in this cycle may already be gone, but the big money may still be ahead, especially if mainstream capital has not yet moved into gold and silver equities. He also breaks down his bullion versus stocks framework, why physical gold is defensive while mining equities are offensive, and why silver may still have more upside relative to gold. The discussion also covers Jeff’s junior mining checklist, including management ownership, pro mining jurisdictions, share structure, resource growth, pre producer setups, and the one question he believes every junior mining investor must ask. Jeff also discusses The Gold Advisor, his Paydirt book, and the stock categories he is watching across gold, silver, copper, uranium, and lithium. #Millettian
Key topics
Gold and silver bull market outlook
Commodity supercycle setup
Bullion versus gold stocks
Why Jeff says 20 percent physical gold matters
Gold silver ratio and silver upside
Rick Rule and the easy money versus big money question
Junior mining stock selection
Management ownership and share structure
Brownfields versus greenfields exploration
District scale claims and grade red flags
Copper, uranium, lithium, and precious metals equities
The Gold Advisor and Paydirt
Guest links
Website https://thegoldadvisor.com/
X https://x.com/TheGoldAdvisor
LinkedIn https://www.linkedin.com/company/the-gold-advisor/
Instagram https://www.instagram.com/thegoldadvisor/
Facebook https://www.facebook.com/TheGoldAdvisor
YouTube https://www.youtube.com/@PaydirtPodcast1
Host Steve Yang Natural Resource Stocks
Website https://www.NaturalResourceStocks.net
YouTube Main https://www.youtube.com/@naturalresourcestocks
X https://x.com/SteveYangStocks
LinkedIn https://www.linkedin.com/in/steveyangstocks/
NRS LinkedIn https://www.linkedin.com/company/naturalresourcestocks-net/
NRS Facebook https://www.facebook.com/people/Natural-Resource-Stocks/100090526686713/
NRS TikTok https://www.tiktok.com/@natural.resource.stocks
NRS Instagram https://www.instagram.com/naturalresourcestocks/
Chapters
00:00 The big money may still be ahead
01:14 Jeff Clark joins Steve Yang
03:00 Where are we in the commodity supercycle
05:55 Bullion versus gold stocks
07:52 The physical gold allocation question
09:36 Gold versus silver
11:13 Rick Rule and the easy money question
14:30 How Jeff evaluates junior miners
17:00 Brownfields versus greenfields
21:40 Red flags, people, and jurisdiction
26:16 Share structure and institutional backing
28:02 District scale, grade, and economics
30:35 Gold, silver, copper, and uranium ideas
36:23 The Gold Advisor newsletters
40:06 Jeff Clark’s Paydirt book
41:31 Closing thoughts
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