Stijn Schmitz welcomes Mining Stock Monkey to the show. Mining Stock Monkey is Founder of Mining Stock Monkey. The discussion centers on navigating the current commodity cycle with a disciplined, downside-protection-first approach. Mining Stock Monkey emphasizes that while structural tailwinds like electrification, AI infrastructure, and global poverty reduction support a broad commodities bull market, selectivity is critical. He starts by identifying historically cheap commodities—where low prices eventually cure low prices by curbing supply and boosting demand—and then evaluates individual companies on their risk-reward profiles. Nickel tops his list, but he exclusively seeks high-grade nickel-sulfide deposits, avoiding laterite projects due to severe environmental and human rights concerns in Indonesia. Potash also appears cheap, with BHP’s delayed and over-budget Jansen mine potentially discouraging new supply; he notes producers like Nutrien and Mosaic, though he favors royalty exposure through Altius Minerals. In oil and gas, equities are undervalued at spot prices, but the futures curve points to a sharp decline, making him cautious. He prioritizes protecting against large losses, explaining that avoiding a 75% drop is far more valuable than chasing outsized gains. On precious metals, he views the gold bull market as mature after a decade-long run, yet acknowledges that endless money printing and the weaponization of the dollar could drive prices infinitely higher. He is reducing exposure to riskier gold miners and favors royalty companies like Royal Gold, citing its superior margins, built-in growth, relative undervaluation, and potential S&P 500 inclusion as key downside protections. Silver, however, raises concerns: a parabolic chart pattern and the fact that over a billion rural Asians hold silver as savings could trigger massive selling if they cash in on recent price spikes, potentially flooding the market. He also briefly notes that thermal coal’s chart resembles a classic bottoming pattern worth investigating. Mining Stock Monkey’s research service caters to high-net-worth individuals, retirees, and professional money managers, focusing on thorough, risk-conscious analysis rather than speculative bets.