Video News/Precious Metals Summit Beaver Creek 2026

John Hathaway, Managing Partner at Sprott Asset Management, says gold equities may finally be entering a stronger phase after years in which bullion offered investors the simpler case. Speaking with Kitco Mining at the 2026 Precious Metals Summit in Beaver Creek, Hathaway said the “torque” gold stocks can provide relative to moves in the metal is starting to play out, while miners are better managed and more profitable than they were at the 2011 gold-price peak. Hathaway also said mining M&A is “just around the corner” as large producers remain flush with cash and sector valuations stay low in his view. He discussed “lazy balance sheets,” why some producers should consider holding bullion, and what could bring generalist investors back into gold equities, arguing that a broader rotation may require investors to lose confidence in bonds and their existing portfolio positioning.