Gerardo Del Real,
Editor
July 8, 2026
"An orgy of amalgamation."
That’s how Rick Rule described what he expects over the second half of this year.
I’m here at the sold-out Rule Symposium on Natural Resource Investing in Boca Raton, Florida, put together, of course, by Rick Rule and his phenomenal team.
Rick kicked off the conference in typical Rick style. He explained that he believes mid-tiers and majors, flush with cash from a $4,000-plus gold price, will soon be on the hunt to replace reserves after years of underinvestment in exploration.
I couldn’t agree more, especially given the fact that we’re in the summer doldrums and have experienced a prolonged pullback in the junior resource space after seeing all-time highs back in January.
So we’re on the hunt for new ideas, bargains, and potential takeout targets.
One name that stands out in our Junior Resource Monthly and Junior Resource Speculator portfolios is Revival Gold (TSX-V: RVG)(OTC: RVLGF).
The company is cashed up, has more than 6 million gold ounces across its two projects, and is ramping up toward a production decision at its Mercur project in Utah.
It makes perfect sense for a mid-tier looking to add gold ounces at a substantial discount to its peers.
How cheap? The company has a C$215 million market cap. That means you can buy a gold ounce from Revival for about $33 per ounce.
At current gold prices, the company has a $2 billion NAV. At $3,000 gold, it still has a $1.2 billion NAV. That's about a 0.1-times multiple to underlying NAV, while senior gold producers trade at about $500 per ounce.
That’s a severe disconnect, even at $3,000 gold. And again, we’re currently above $4,000 an ounce with plenty of upside from here.
At the end of the day, I think there's going to be a second-half rally that takes a lot of people by surprise, with everything from lithium to copper to precious metals and uranium looking well positioned.
I saw a phenomenal presentation from Grant Williams, who went out of his way to explain why the price of gold has so much more room to run and why this recent pullback is an absolute bargain.
I had a great conversation with the head of a uranium company that's already in production. I won't mention the company or the gentleman by name, but they're in discussions with multiple utilities, and he predicts the second half of this year is going to be extremely robust for the uranium space.
The underlying fundamentals are as strong as they've ever been, and with the long-term contracting price now closer to the $100-per-pound level, the uranium spot price at around $85 per pound has a lot of catching up to do.
The world is as unpredictable as it has been in my lifetime, and yet the trends in place all point to higher prices.
The $39 trillion debt we’ve amassed isn’t going anywhere and looks more and more unmanageable by the day.
The resource cold wars being fought around the world aren’t going anywhere anytime soon. In fact, they're accelerating.
The rush is on by central banks to preserve value and secure the critical metals needed for the future.
We’re going to profit from that. Everything is on sale. Take advantage of it.
Let's get it,
Gerardo Del Real
Editor, Bizarro World