I am focusing on ones with low net debt, decent AISC, and a lower FCF multiple.  Buy some on the dips.

Perseus Mining (2/19/2026: H2 results. 188K at $1650 AISC. Cash balance $755M. No debt. Guidance for 2026. 420K oz at $1700 AISC. Current FCF run-rate at $1.1B. Current FCF multiple at 5).

Alamos Gold (2/19/2026: Q4 results. 140K oz at $1600 AISC. $157M FCF. Cash balance $623M. Debt balance at $200M. Guidance for 2026. 600K oz at $1550 AISC. Current FCF run-rate at $1.6B. Current FCF multiple at 12).

Centerra Gold (2/19/2026: Q4 results 70K oz at $1650 ASIC. Cash balance $528M. No debt. 2026 guidance. 270K oz at $1600 AISC. Current FCF run-rate at $700M. Current FCF multiple at 6).

Lundin Gold (2/20/2026: Q4 results. 120K at $1200 AISC. $328M FCF. Cash balance $630M. No Debt. 2026 guidance. 500K oz at $1150 AISC. Current FCF run-rate at $1.6B. Current FCF multiple at 12).

Ramelius Resources (2/20/2026: H1 results. 100K oz at $1300 AISC. Cash balance $491M. No debt. Current FCF run-rate at $600M. Current FCF multiple at 13).

Oh, and Don loves him some Lion One Metals now.  New CEO.  I am buying as I trust Don, and the company has not done shite for the last year…with new management, could be good.

Lion One Metals (2/25/2026: Appointed a new CEO. This is a game-changer for the company).

Stick .25% to .5% in your portfolio, and I think you’ll be happy.  Look at the five year chart below.  Very good risk:reward metrics….don’t forget!! Floor looks to be 25 cents, upside 1.50.  It’s like an option without the expiration.  I just bought 5k, or 23,000 shares!!