Mako Mining (MKO.V), a large holding of mine (bigger % than highlighted in the article!) featured in Jason’s piece. In terms of full disclosure, I recently joined the BOD of Mako so my position is public. In general, the gold price is up a lot and while the stocks have kept pace the operating leverage means that the sector has become cheaper on valuation metrics.

I had a chance to meet Jason at the 2025 Fairfax AGM and am a big fan of how he thinks. Please read and subscribe to his substack!