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 [Music] I'm Charlotte McLoud with investing news.com and here today with me is Chan Lyn of Lyn Asset Management thank you so much for being here good to see you for the first time in person thank you shot glad to be here really good to be catching up with you and I think we last spoke in kind of mid 2024 and we really focused on Silver which of course we'll talk about silver today but your presentation here at pdac was on where to invest in 2025 so I thought to open with that and get your thoughts on where

you're focusing right now oh yeah multiple area uh one I really like gold I like silver and also critical medals I've been pounding on the table about critical metal for almost a year I think finally I'm very very pleased um uh they got it actually before China ban the Gan I already knew that actually already told my uh you know my network people including CEO pay attention and then I was just receiving all the uh you know appreciation and congratulation from the management many many companies I give

them a heads up that's uh you know the the all these critical medals are coming and it's really truly coming if you look at the Trump uh he want to have a critical medal deal with Ukraine that's that's what he got the money back it's nothing left it's just it's a really interesting critical metal and uh there is a draft document by Department of Defense at the end of last year so basically two months ago they said we really really really really need the critical metal and there's a lot of

fundings available and then the visibility especially with Mr Trump's moue the visibility very very high I'm so glad I went to the pdac opening ceremony very very glad to see we are taking that seriously yeah I think definitely there's been such a focus on critical minerals this this year year really and right now which one you mentioned gallium which critical minerals are are most interesting for you right now oh there there's a many you know the the recently China bind including Gan germanian antimon right

those three are heavily used in the military a lot of people ask Gan what do they use Gan as used in the radar in the P pilot jet so what that the Silicon right silicon up is carbon very hard to make semicond but germanian that's a China SP that's also semiconductor and then you can use Gan asite to make semiconductor as well so that that's the key and then CH for example the Gan uh China control 98% so it's like really we have some stock power in the United States that's it so we really need to look for those

yeah and I think when people hear about critical minerals and they know that they're becoming increasingly important but it's hard I think for investors to know okay how do I get exposure to to these companies because you know there's so many for example gold companies critical minerals companies there's so few and then how do you how do you look at them and know which ones are the good ones right that's that's a very good question everybody right now trying to get on the wagon so you had to be very

selective uh they're uh they're basically right now because critical mineral is critical but you only only need small quantity right for the G in the 100 T 600 t a year is a worldwi production 98% from China so you don't need a lot uh but so if you are you know far away from production you basically when you get there it's not critical anymore you want to be the critical pass on the critical pass and the first production so so the so there there are some some company but I don't know

whether it's appropriate to mention here but so that's we we're trying to push we actually and I'm going to you know meet with one of the very well-known guy here uh today uh we're going to discuss the you know he's a big investor everybody know his name I don't want to mention him but you know just see how which company uh has the best chance to cross the finish that so you want to be the first you want to be the first maybe second is okay and then thir the fource is really because not critical anymore

yeah that makes a lot of sense so if you are looking at critical lers you want to find out who's going to be yeah the first to production makes a lot of sense I want to ask you you know we were talking before we return the camera on just this past Friday we had this Ukraine us critical minerals deal just seemingly blow up any any thoughts on where that goes moving forward it sounds like yeah definitely the US is focusing in on those those critical minerals I I personally I think dski need to come back and then ask for

forgiveness I mean I really don't think unfortunately even no matter how we support Ukraine without United States Ukraine has no chance seriously I heard United already cut off electricity cut off whatever to Ukraine already it's happening this weekend so it's very very Trump is playing very hard card so I I I really don't think he has you know it it it will be only Europe and Ukraine against Russia Russia probably will will take more more the territory so it the longer he waits unfortunately it's the

worse it is yeah yeah we'll have to keep an eye on on how that plays out and so there's there's that going on and then there's the whole the whole tariff situation which is also creating a lot of uncertainty I think but again a lot of focus on Meadows that might be affected by these tariffs so anything in terms of the tariffs that you're really watching in in the metal sector right the the a lot of people what came to me say you know CH you know Chinese American unfortunately China American

and are fighting yeah yeah but it's a great business opportunity seriously it this so uh I just discussed in my presentation uh China want to fight back but for China to fight back this very very limited option for she you know the president put on head of Chinese president what option he has cut out the critical mineral that's that's probably his Trump car second is sell US Government Bond but China only has less than one trillion you know how much can you sell can you go negative can you

sure no you can not sure so he sell the rest the second the third buy more gold right so that's that's the thing he can do I mean he may you know because the more gold you have in China uh they make people feel the R&B is stronger because it has has the gold backing so you see the divergency Trump seems to go into cryp crypto that he just announced over the weekend yes and then China is going to go so we'll see who's right I I'm in Gold hands so I mean not for China can but I mean go can yeah know

that's a very that's a very interesting Divergence that we are seeing there so you mentioned uh other than the critical minerals you're you're interested in Gold this year so maybe we talk a little bit more about the drivers for gold that you're watching so there's China what else do you have your eye on well right now there's a historical movement of gold from London to New York okay I made a presentation about um a year and a half half ago there was historical movement from us and then Europe to

China there was a huge premium in China because Chinese people start waking up just Alin see them because they have so much saving and then they it's in recession they know where to put their money they just want a little bit save hedge on their saving so they buy gold so that movement triggered this plus Central Bank buying trigger this gold M and I believe this gold movement from Bank of Bank of England from London to New York will trigger the next Lake and you think about that bank of England is

technically default by rule they have to deliver go in two weeks they couldn't deliver go in two week then four week they asked for four week maybe six week I I don't know how long it is you know so the people asking there they do they really have all the sufficient go there are they trying to buy some from the market to to for delivery I do not know and also uh president Trump going to check on knock uh so that's another thing I I do not know I hope we have go there as seriously I I do uh but if if

if don't that's that's another big big issue yeah I think this this has been a topic that's coming up a lot that movement of gold the Fort Knox audit any any further thoughts on that it's it's interesting to me why why do you think that gold is coming in why do you think Trump is is looking to do that because you know you did you mentioned the focus on crypto but we also seem to have maybe this interest in the US on gold right the gold is not driven by Trump if you realize it's driven by the thread of

tariff so uh before us uh London and Chicago is flat very very tiny tiny different now if people were saying if Trump put on 5% tariff on gold that's you know that's they want to front run the Tariff okay not just gold also silver uh before silver is so cheap you should buy the boat now the the price difference so high they should buy air now so there's a unprecedent amount of silver also flying into the United States I just silver more likely to put on tariffs than gold because silver has

the industrial usage and silver is becoming should becoming more and more critical yeah this is what I was wondering when talking about the the front running the terrorists when it comes to Gold technically we don't even know if gold is going to have tariffs but so silver more likely to to have that potentially right you look at um uh Trump is looking at putting on tariff on copper if that was happening last week we got copper is critical in many many uh electrical for the next rebuilding so

basically he want to get American manufacturer back but those need a lot of copper not infrastructure you if you look at the r of China if look carefully look at the China industrial the rise of industrial power need the power power in it copper so I think Trump Administration is pretty thinkinking ahead they smart they thinkinking ahead so we need copper we need the copper to potential TI critical critical metal including cover silver you think about silver you oh there's abundant silver but how much really available and then

silver also widely used everywhere including missile including weapon okay because silver is the best conductor when push to sh you really need a very good conductor you use silver silver is better than copper just like solar panel solar panel people try to use replace uh silver with copper for so many years decades they couldn't they still have used silver because this is the best conductor available and then really you need to increase efficiency even just by a little bit you need to put a silate yeah

yeah you can see they're all they're all really tied together just to look a little bit more closely at Gold so where do you see the price going in 2025 of course we've seen it move quite a bit we've r a little bit of a pullback right now what are you thinking yeah EV calling uh I just made a presentation I think uh this is a good pullback okay if you watch as gold hitting 3,000 uh last week week before Gold Miner actually already take a double top already start turning down so there is people a lot of

smart people or wor to they think this uh gold probably will have a pullback and know we do did have pullback we have a pretty significant PB back and so but right now if you look at the long-term chart we're getting close to the close to the support as I said over the last weekend this week we could hitting the the the support and then bounce back so it's good it's healthy it's good has some pullback yeah I I feel the same way it makes me feel a little bit better than seeing it go straight up so when it

comes to to gold how I know people are feeling a little bit of frustration about the gold stocks and whether or not they're they're moving so how are you focusing on getting exposure to gold right now are you looking at the stocks or just the metal yeah I I used to have a two leg one is the stock one is the commodity ETF and future right now I'm very very heavily L against stock because stock not really not pricing in 2900 they're not even pricing 2500 gold okay so uh I've been chatting with quite

a few people here uh right now the the free cash uh of gold mining company so high that's actually pretty close to um when Warren Buffett was buying Barrack once W back bought Barrack uh many years because of free cash flow Wen barfett if you look at bfet he never like commodity he never really he said he doesn't understand but he like free cash flow he like when free cash flow is this High historically what happened Warren Buffett start buying gold miners so I think we're getting that as long as gold stay this price

those that's that's why I have very very Le on the miner now because as long as gold and silver companies stay this price the go uh the miner going to go much much higher and then I also like silver I what I'm very excited about silver is the Silver Company making a lot of money an incredible cash flow fris Neo is the largest super company in in the world is in Mexico last year the free cash flow almost $1 billion dollar almost one billion US and then they have more than 1 billion cash on their

balance sheet you think about the incredible uh transformation and uh my my good friend ccot uh they run a company for S CRST bable it's going to be the largest Superman in the world and they already St pay dividend I I was one of the fortunate investors in in in that in that mine and then they pay you know 30% of my original investment which is very good I mean that's first dividend that's only first so so there all the gold and silver minor there has so much so much free cash flow uh we just ask

okay as uh investor super investor we ask a super company to put some money in silver why don't you just hold some silver you have so much cash why don't you hold some silver and then together silver can easily go to $50 you thinking about that only 313 million ounce of silver available total worth about10 billion so old the Silver Company put a half a billion here half a billion there and then with that there's no no silver available for deliver seriously I mean I'm I'm not

kidding I mean I'm not conspiracy serious but this is real and then the the we're getting really really close to a big breakout of Zer are are you what is the response been from companies to to that idea of holding some silver are you seeing uptake of that the the the Silver Company are pretty positive some are actually forced by their largest shareholder to take on some silver uh every company is different there some company are very very good Financial shape they have so much money they

paying dividend you know think about uh some Crystal 30% dividend you they have so much cash so why don't you I mean you cash already billion dollar why don't you put them take some silver right so some they can but some cannot some still struggling okay there's so many different company out there though yeah that's right that's right so so many different companies down there and a lot of them are small so you're you're really focusing on the big companies the big miners for gold and silver right now

not down on the EXP no no I I mean both I mean uh I mean you know the top and down so uh because my my family I have a sizable portfolio to to to to around so I have all old spectrum and then I study in the past 20 years for every cycle when silver go to 50 particularly some small cap uh silver Mining Company can do very very well well actually I just recommend one on my recent presentation because they seems to fit all all the characteristic we want to be American listed because American invest can

Russian you know mean trading you know they can be and then they're free cash flow growing production long M life that's all the characteristic needed to really have a parabolic move and I hope it'll come to some of mine small minor that's when they go it really go and I've seen in the previous uh bu Market you can easily 10 20 bager or more yeah I think okay so all across the spectrum of the the gold and silver stocks maybe just one small question on follow-up question on Silver

I know a lot of people really want to see that $50 level and they're wondering when will this breakout happen any any thoughts on that do we just have to be patient yeah you need to got patient what I learned was that silver tend to move more violently when gold the Star Gold is not really moving very sharply gold actually just consolidating and then silver take next leg so it can come anytime it can come any and then also if large Silver Company taking the shareholders uh advice or pressure or

whatever to C hold on more silver only I I we saw the report only three 313 million oun of silver available so that's that's all they take to get super really moving Okay Okay so we've gone we've done critical metals gold silver I think I'll I'll let you go back down onto the floor of pdac but any final thoughts you would leave investors with right now oh it's um uh we are coming back to some very exciting time in the M industry after very long bare Market I've been talking to a lot of investors

that the bare Market has been very long very brutal and there's so many exciting opportunity out there I invite I invester to come down here and take a look there's so many interesting company out there I think that's a great place to wrap it up well thank you so much for coming on to go over everything it's really good to meet you in person thank you so much thank you glad to meet you good of course and I'm Charlotte McLoud with investing news.com and this is Chen ly [Music]