About this episode

Sam Berridge discusses the current state of various commodities, including gold and aluminium, amidst market chaos and structural deficits.

Sam Berridge from Perennial is back after a wild first half of 2026. We run through just about every commodity under the sun. Gold's sold off, but the fundamentals haven't changed. What next? We also get into why the structural deficits he chases tend to survive the chaos, as well as the latest on the aluminium setup. In this one we cover: Gold's sell-off and the long-term thesis The Iran war latest + oil and aluminium on a knife's edge The gold developers Sam likes and his 1 + 1 = 3 plays The Elliott campaign shaking up Northern Star Indonesia running nickel like OPEC The niche metals nobody cared about until they vanished: tungsten, fluorine and more Why the capital gains tax changes will set us back A cracking chat covering the lot. Enjoy. Follow Sam: X - https://x.com/strikeextent LinkedIn - https://www.linkedin.com/in/sam-berridge-8150a02a/ If you like hearing a fund manager who covers just about every commodity under the sun, subscribe for more. Episode recorded: 12/06/2026 …………...… DIRECTOR'S SPECIAL EMAIL Join 16k+ subscribers to the ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Director’s…

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