Gold Stock Picks: The Arsenal and Beyond

Dylan Jovine’s BTM Gold War presentation includes specific gold stock picks that range from a free producer recommendation to a high-conviction early-stage developer backed by federal financing and billionaire investment. As we detail in our full review of the BTM Gold War presentation, the picks are well-researched and supported by verifiable data.

Pick One: Kinross Gold (KGC) - Free

Jovine gives away Kinross Gold before asking for any money. Kinross is one of the largest gold producers operating on American soil, with operations in Nevada and Alaska. Its flagship American operation is a massive Alaskan gold mine literally named Fort Knox.

The investment case is straightforward. Kinross trades near 12 times earnings, roughly half the market average. The metal it produces sells near $4,000 an ounce. Central banks have built a floor under gold with the heaviest buying since 1950, meaning every dollar gold holds above Kinross’s cost of mining falls almost straight to the bottom line. Wall Street’s average price target sits at $40.24, about 74 percent above recent prices.

Jovine notes timing: “Kinross reports quarterly earnings in a matter of days. If you’re going to buy it, my strong preference is before the market sees those numbers.” For more detail on this pick, see our Kinross Gold analysis.

Pick Two: The Arsenal - For Subscribers

The Arsenal is the main pitch of the presentation. Jovine describes it as “one tiny gold stock” that is “now the absolute prime candidate for America’s next strategic investment.” The company is roughly one-fiftieth the size of Newmont, the American gold major, and produces no revenue yet.

What makes the Arsenal different from any other junior gold stock is the federal relationship. The EXIM Bank voted unanimously on May 21, 2026 to approve nearly $3 billion in financing for this project, one of the largest financings in the bank’s modern history. The financing package eclipses the company’s own market cap. The company’s federal filings contain “substantial support and partnership from the Department of War.”

The company spent roughly 15 years navigating the federal permitting gauntlet and survived every legal challenge. It won its federal Record of Decision, Army Corps water permit, and final state permits. Construction began last fall. The deposit carries gold and antimony, the latter being a critical mineral that China formally banned from exporting to the United States. This is the country’s only domestic antimony reserve. For more on the company, see our article on gold mining investment.

Pick Three: The Gold War Portfolio

Subscribers also receive a bonus report called “The Gold War Portfolio” containing three additional positions.

The Stealth Gold Giant is one of the biggest gold producers on Earth that does not call itself a gold company. It is a copper giant whose two metals, copper and gold, are the same two metals named in the President’s mineral order. Every year, almost as a footnote, it pulls more gold out of the ground than most gold miners on the planet. Wall Street prices the copper. The gold war reprices the footnote.

The Payout Fortress is a $100 billion mining fortress that owns one of the great copper-gold mines on Earth. Readers who followed Jovine’s call last July are already up more than 50 percent. They have collected $4.02 per share in dividends on top. In a long war, this is the position that pays you to hold the line.

The Enrichment Chokepoint is the only American-owned company enriching nuclear fuel on U.S. soil. It already holds nine-figure federal contracts. The same machine that assembled around the Arsenal is now assembling around it.

Pick Four: The 96-to-1 File Wildcard

The third bonus report, “The 96-to-1 File,” includes one more position: a deep-sea mining wildcard. Washington’s newest minerals order points straight at it, the one American company set up to mine metals on the ocean floor. If revaluation day comes, every strategic-metal stock jumps at once, and this is the smallest charge with the longest fuse.

The Paulson Conviction

John Paulson has invested approximately $185 million in the Arsenal company. He installed his longtime partner as chairman. In June of last year, he wrote a $100 million check at $13.20 per share. His stake is estimated at roughly a third to half the entire company. When Reuters asked why he went this deep into gold, he said: “When the war started, Russia’s physical gold stayed safe, but all their cash, the paper reserves, were confiscated.” For more, see our article on John Paulson’s gold investment.

The Government’s Buying Pattern

The federal government has become a direct shareholder in 26 companies over the past 18 months, deploying $23.9 billion out of $205 billion authorized. MP Materials surged 226 percent. Trilogy Metals jumped 402 percent. Intel soared over 500 percent. Jovine’s observation: “When this machine picks a company, the stock doesn’t drift higher. It gaps.” For more on this pattern, see our article on gold mining stocks.

The Distinction: Producer vs. Weapon

Jovine draws a clear line between his picks. “Kinross is a producer. It profits from the price of gold. The Arsenal is a weapon. It profits from the policy of gold. Kinross rides the wave. The Arsenal is welded to the hand that makes the wave.” For investors evaluating which approach fits their risk tolerance, the producer offers safer exposure with lower upside, while the Arsenal offers maximum leverage with higher risk. For more on Jovine’s track record, see our article on Dylan Jovine stock picks.

This is not financial advice. Always do your own research before investing.