Exploration geologist Jeff Pontius joins Kitco Mining’s Digging Deep with Paul Harris to discuss gold’s renewed momentum, Mackay Gold & Silver’s Comstock district opportunity in Nevada, major financings for explorers, the Barrick-Newmont Nevada agreement, African mining policy, and how the U.S. can rebuild domestic mining capacity. Pontius says a US$4,000 gold base would be “exceptionally good” for producers and developers, especially with many companies producing around US$2,000 per ounce or lower. He says the recent pullback created a buying opportunity, while a less aggressive Fed and stronger broader market could support further gains into year-end. “I think we’ve got a good runway to go on,” he said. Pontius also explains why he came out of pseudo-retirement to chair Mackay, comparing the consolidated Comstock district near Reno to Cripple Creek before modern district-wide exploration. He discusses Mackay’s 20,000-meter drill program, large oxide targets at surface, and why strong treasuries let explorers drill faster, test bigger ideas, and balance dilution against discovery speed. Pontius also weighs government ownership in African mining projects, spinouts, research funding, permitting reform, and flow-through-style tax incentives for U.S. exploration. Recorded August 13, 2026. Don’t forget to subscribe to the Kitco Mining & Kitco News YouTube channels to stay up to date on the latest industry news and interviews. 00:26 - Gold Finds a US$4,000 Floor 02:12 - Road to US$5,000 Gold 03:18 - Summer Volatility and Gold Pullback 05:17 - Why Jeff Pontius Joined Mackay 10:09 - Comstock Drill Plan and Targets 13:14 - Barrick-Newmont Nevada Deal 17:38 - Africa Gold Deals and Permits 18:28 - Government Ownership Debate 25:51 - Big Raises for Gold Explorers 28:58 - Treasury Size Versus Dilution 32:28 - Spinouts Done Right 35:40 - U.S. Mining Schools and Policy __________________________________________________________________ Kitco Mining is dedicated to reporting on the mining industry. Our mandate is to be the top resource for all mining information and news, offering a clear perspective on where the industry is going through breaking news coverage, mining trends, and in-depth reporting, presented with precious, rare earth, base metals, and industry stock prices. Get important precious and base metal updates while on the go with the Kitco Gold LIVE! app - https://applications.kitco.com Stay connected with us X - https://x.com/KitcoMining Instagram - https://www.instagram.com/kitcomining LinkedIn - https://www.linkedin.com/company/kitco-mining Facebook - https://www.facebook.com/KitcoMining Connect with the Kitco Mining anchors Paul Harris - https://x.com/paulharrisgold For more in-depth mining coverage, visit us here - https://www.kitco.com/mining Disclaimer: Videos are not trading advice, and the views expressed may not reflect those of Kitco Metals Inc. Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.
