Junior Miner Junky’s David Erfle: ‘Buy the Boredom’ in Gold Stocks (before the next leg up)

Junior Miner Junky’s David Erfle: ‘Buy the Boredom’ in Gold Stocks (before the next leg up)

From Mining Stock Education by Bill Powers

May 28, 2026 · 23 min

About this episode

David Erfle discusses the current state of gold and junior mining stocks, advocating for a contrarian investment approach amidst weak sentiment.

David Erfle of Junior Miner Junky says buy the current boredom and weak sentiment in gold and junior mining stocks amidst strong Q1 miner profits and historically low sector open interest. Erfle argues the recent sideways action after a sharp gold and silver run-up and correction is normal consolidation before another up leg, citing ongoing central-bank gold buying, selling of U.S. Treasuries, stagflation dynamics, and currency debasement risks. He notes that miners are showing relative strength near 200-day moving averages and are benefitting from lower oil prices. David compares undervalued gold equities like Newmont to expensive broader equities, discusses Equinox Gold’s acquisition of Orla and Perpetua’s EXIM Bank loan for the Stibnite project. Erfle emphasizes contrarian positioning, patience, and expecting false moves before breakouts. 00:00 Intro 01:55 Consolidation Not Collapse 04:30 Macro Gold Drivers 07:15 Fed Trap & Valuations 09:29 Equinox-Orla Merger 10:29 Perpetua’s EXIM Bank Loan 10:56 Speculating on Uncertainty 12:16 Novel Mining Methods 13:22 Gold Silver Copper Focus 14:47 Sentiment & Fake-outs 19:43 Buy Boredom Wrap Up David’s website…

People in this episode

Host: Bill Powers

Guest: David Erfle

Topics covered

Keywords

Mentioned in this episode

Organizations: Junior Miner Junky, Newmont, Equinox Gold, Orla, Perpetua, EXIM Bank

Places: U.S.

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