Video News/Precious Metals Summit Beaver Creek 2026

Warren Irwin, President & Chief Investment Officer of Rosseau Asset Management, says stronger gold prices can make weak mining projects look more attractive than they really are. Speaking with Kitco Mining’s Paul Harris at the 2026 Precious Metals Summit in Beaver Creek, Irwin said a 30% project IRR is now close to the minimum he would accept given gold-price volatility, rising CapEx and operating costs, warning that every strong cycle produces mines that “should never be built.” Irwin also argues major miners are often waiting too long to acquire development projects, allowing juniors to capture much of the value created during construction. He says experienced majors can add significant value by taking development assets through the build themselves rather than waiting until production, when valuations may already have risen sharply and buyers may inherit greater execution risk.