Doc Jones – Focus Shifting From PM Stocks To Base Metals And Energy Stocks - Emerita Resources, Magna Mining, Canadian Copper, and Cardinal Energy

Nov 12, 2025

Doc Jones, a private activist resource investor and influencer, shares his insights on portfolio strategies in the precious metals, base metals, and energy sectors. He explains his cautious stance on gold and silver after significant gains, shifting focus to base metals like Emerita Resources and Magna Mining, which offer valuable co-products. Jones also discusses his new investment in Canadian Copper for its strong project potential. Finally, he outlines his energy strategy, favoring steady production in oil and gas for income.

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ADVICE

Harvest Gains After Big Rallies

Lighten positions after outsized gains and harvest cash to redeploy into under-run sectors.
Shift from pure PM names into base metal producers with precious-metal credits to balance risk and upside.

INSIGHT

Collapsed Treatment Charges Boost Margins

Treatment charges for concentrates have collapsed, sometimes to zero or negative, boosting base metal developer margins.
This dynamic favors developers near production because PEA assumptions underestimate current economics.

INSIGHT

Byproducts Improve Project Resilience

Base metal projects often include gold, silver, PGM byproduct credits that materially improve project economics.
Longer mine lives and commodity mix provide insulation versus single-commodity gold projects.

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Doc Jones, private activist resource investor and influencer on Ceo.ca and X/Twitter, joins us for his outlook on the precious metals, base metals, and energy sector and how he is positioned in select stocks within his portfolio.

We start off getting the key macroeconomic factors that him more muted on outsized upside in both gold and silver, after such a big run in the precious metals related stocks so far this year, and really over the last few years. He points out that over the last 3 years that many of the quality PM producers are up 5x-10x or more, and that he had some developers up as much as 15x, so it was prudent to start harvesting gains and raising cash to deploy in other commodities and opportunities that hadn’t run as much.

With regards to the base metals companies, Doc Jones points out that a lot of the polymetallic deposits still have considerable exposure to gold, silver, platinum, and palladium as valuable co-credits. He mentions the rationale for his long-standing interest and key portfolio positions in Emerita Resources (TSX.V: EMO) (OTCQB: EMOTF) and Magna Mining (TSX.V: NICU) (OTCQB: MGMNF); which both have exposure and leverage to a blend of critical minerals and precious metals. He also highlights a new portfolio position, Canadian Copper (CSE: CCI), which also has a solid mix of exposure to both industrial metals and PMs.

Wrapping up we shifted over to traditional energy getting his outlook on both oil and natural gas, but why he is favoring investing in Canadian heavy oil sands projects and natural gas projects. He goes on to extol the benefits of picking up quality energy stocks that pay investors good dividends while they are waiting for fundamental company catalysts and higher future energy prices. Doc Jones highlights Cardinal Energy Ltd. (TSX: CJ) as one example of such a company that he is positioned in.

*In full disclosure, Doc Jones holds a position in these companies discussed at the time of this recording, but is not compensated by any company to market them. These are simply his views and opinions as to why he likes investing in them, but this is not investment advice.

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This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decision