Gold has shattered records. Central banks continue accumulating bullion at a historic pace. Governments around the world are drowning in debt, fiat currencies continue losing purchasing power, and investors are once again searching for safe havens.<\/p>\n
Yet according to Palisades Goldcorp founder and CEO Collin Kettell, the biggest opportunity in this gold bull market may not be physical gold itself\u2014it may be hidden inside a little-understood financial instrument called mining warrants.<\/strong><\/p>\n Speaking with Daniela Cambone at the Rick Rule Symposium, Kettell outlined why he believes his firm’s strategy of accumulating 1.7 billion warrants<\/strong> could provide extraordinary leverage if junior mining stocks finally begin their long-awaited breakout.<\/p>\n While physical gold<\/strong> and silver<\/strong> remain the cornerstone of wealth preservation, investors seeking higher-risk, higher-reward exposure may soon witness one of the most explosive phases of the precious metals cycle.<\/p>\n One of the biggest misconceptions in today’s market is that mining stocks have already participated in gold’s historic rally.<\/p>\n According to Kettell, they haven’t.<\/p>\n While gold prices have climbed dramatically over the past several years, much of that demand has come from:<\/p>\n Central banks buy physical gold\u2014not junior mining equities.<\/strong><\/p>\n That distinction matters.<\/p>\n Kettell argues that retail and institutional investors have largely ignored junior miners, leaving valuations well below where they typically trade during mature precious metals bull markets.<\/p>\n If investment capital finally rotates into mining equities, junior companies could experience significant upside after years of underperformance.<\/p>\n Most investors simply buy mining shares.<\/p>\n Kettell chose a different path.<\/p>\n Instead of chasing stocks in the public market, Palisades invested directly into hundreds of private financings during the early stages of the current cycle.<\/p>\n The result?<\/p>\n A portfolio containing approximately 1.7 billion mining warrants across more than 330 companies.<\/strong><\/p>\n For investors unfamiliar with warrants, they’re similar to long-term call options.<\/p>\n A warrant provides:<\/p>\n Kettell credits both his father and legendary resource investor Rick Rule for teaching him that warrants can dramatically amplify returns during major commodity bull markets.<\/p>\n Palisades didn’t build this portfolio overnight.<\/p>\n The company aggressively accumulated warrant positions throughout 2024 and into early 2026, when junior miners were still struggling to attract capital despite rising gold prices.<\/p>\n Today, conditions have changed.<\/p>\n Many exploration companies no longer need to include warrants when raising capital because investor demand has improved.<\/p>\n According to Kettell:<\/p>\n “You can’t build this portfolio today.”<\/p>\n<\/blockquote>\n The window that allowed investors to obtain generous long-dated warrants has largely closed.<\/p>\n That makes Palisades’ existing portfolio increasingly unique.<\/p>\n Markets rarely move in straight lines.<\/p>\n Despite recent corrections, Kettell cautions investors against letting emotions override objective data.<\/p>\n He revealed that Palisades’ warrant portfolio increased from only a few million dollars of intrinsic value to well over $100 million during gold’s rally before pulling back alongside the broader market. Even after the correction, intrinsic value remained dramatically above where it stood before the rally began.<\/p>\n His point is simple:<\/p>\n Bull markets often feel uncomfortable while they’re creating wealth.<\/strong><\/p>\n Short-term volatility doesn’t necessarily invalidate the longer-term trend.<\/p>\n Although gold dominates the conversation, Palisades’ portfolio stretches across multiple resource sectors.<\/p>\n Its investments include exposure to:<\/p>\n The strategy recognizes that global resource shortages aren’t limited to precious metals.<\/p>\n Copper demand continues rising as electrification accelerates.<\/p>\n Uranium is benefiting from renewed nuclear investment.<\/p>\n Critical minerals remain essential for industrial and defense applications.<\/p>\n Diversification allows investors to participate across several long-term commodity themes while maintaining significant exposure to gold<\/strong> and silver<\/strong>.<\/p>\n Throughout history, precious metals bull markets have often unfolded in stages.<\/p>\n First:<\/p>\n Then:<\/p>\n Finally:<\/p>\n Kettell believes today’s market is still early in that final phase.<\/p>\n While no outcome is guaranteed, many experienced resource investors continue watching for a broad rotation into junior mining equities if gold prices remain elevated.<\/p>\n Even the most compelling mining opportunity carries risks.<\/p>\n Exploration companies can disappoint.<\/p>\n Projects can face delays.<\/p>\n Capital markets can freeze.<\/p>\n That’s why physical gold<\/strong> and silver<\/strong> continue serving a fundamentally different purpose.<\/p>\n Unlike mining stocks, physical precious metals:<\/p>\n Mining investments seek growth.<\/p>\n Physical bullion seeks wealth preservation<\/strong>.<\/p>\n For many investors, the strongest strategy combines both.<\/p>\n Gold and silver act as tangible assets<\/strong>, helping diversify wealth away from financial assets while offering protection against inflation, currency debasement, and systemic uncertainty.<\/p>\n As confidence in fiat currencies continues to erode, the debate increasingly becomes gold vs. dollar<\/strong>, rather than gold versus other investments.<\/p>\n Collin Kettell’s 1.7 billion warrant strategy reflects a belief shared by many veteran resource investors: the biggest gains of this precious metals cycle may still lie ahead.<\/p>\n Gold has already captured headlines.<\/p>\n Central banks continue buying.<\/p>\n Economic uncertainty remains elevated.<\/p>\n Yet junior mining companies have only begun attracting broader investor attention.<\/p>\n Whether that next wave materializes remains to be seen, but history suggests that when capital finally flows into the sector, the move can happen quickly.<\/p>\n For investors focused on protecting purchasing power, the lesson remains timeless:<\/p>\n Physical gold and silver provide the foundation for wealth preservation, while carefully selected mining opportunities may offer additional upside during powerful commodity bull markets.<\/p>\n In uncertain times, understanding the difference between protection and speculation could prove more valuable than ever.<\/strong><\/p>\n ITM Trading has over 28 years of experience<\/strong> helping clients safeguard their wealth through personalized strategies built on physical gold and silver. Our team of experts delivers research-backed guidance tailored to today’s economic threats.<\/p>\n
\n<\/div>\nWhy the Junior Mining Sector Still Hasn’t Had Its Moment<\/h1>\n
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\n<\/div>\nThe 1.7 Billion Warrant Strategy Explained<\/h1>\n
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\n<\/div>\nWhy Timing Made All the Difference<\/h1>\n
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\n<\/div>\nWhy Gold’s Pullback Doesn’t Change the Bigger Picture<\/h1>\n
\n<\/div>\nWhy Diversification Matters Beyond Gold<\/h1>\n
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\n<\/div>\nCould Junior Miners Be the Next Explosive Move?<\/h1>\n
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\n<\/div>\nWhy Physical Gold and Silver Still Matter Most<\/h1>\n
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\n<\/div>\nConclusion<\/h1>\n
\n<\/div>\nAbout ITM Trading<\/h2>\n
THINKING ABOUT PURCHASING GOLD & SILVER?<\/h3>\n