Tomorrow: Our New Tech Pick of the Year (plus a couple of other things)

Disclosure: S3 Consortium Pty Ltd and its associated entities may hold direct or indirect interests in securities referred to in this publication and may receive fees or other forms of consideration from entities mentioned. These interests and arrangements may create a potential conflict of interest in the preparation of this material.

The information contained in this communication is provided for general information purposes only and may relate to speculative investments. It does not constitute financial product advice, and has been prepared without taking into account your personal objectives, financial situation or needs. You should consider obtaining independent financial advice before making any investment decision.

Any forward-looking statements are uncertain and not a guaranteed outcome.

2026 feels like it’s going to be big for the small end of the ASX...

(at least if yesterday's interest in the market, so close to the Christmas break, is anything to go by).

A couple of things before the last day of trading starts tomorrow...

Tomorrow we are announcing a new Tech Pick of the Year...

Our last two Tech Picks of the Year were AL3 (up 431% at peak) and ONE (up 858% at peak).

You can probably guess what our new Tech Pick of the Year is...

It’s currently in halt for a “material capital raise” (source), expected to come out tomorrow. We bid into capital raise.

yep - it’s ROC.

Last week ROC signed a company making deal increasing their contracted annual recurring revenue by ~1,400%.

They have a huge advanced stage sales pipeline, and now (importantly) we expect they will have cash in the bank to execute their plan...

Past performance of AL3 and ONE is not an indicator of future performance of ROC.

Now we wait for ROC to come out of halt tomorrow...

(in the meantime, you can read our commentary about ROC’s new “company making” deal here)

Gold and silver both hit NEW all time highs again in the last 24 hours.

Silver stole the show yesterday during the Australian day time, hitting US$69/oz (hehehe) during the day:

(source)

But overnight and this morning, gold has been making the bigger moves, and comprehensively broken through the previous all time highs it hit back in October:

Here’s what gold’s chart looks like over the last 15 years:

(source)

The past performance is not and should not be taken as an indication of future performance. Caution should be exercised in assessing past performance. This product, like all other financial products, is subject to market forces and unpredictable events that may adversely affect future performance.

The key point here is that both gold and silver are finishing the year very strongly.

Both hitting new all time highs...

Providing an excellent set up for gold and silver in 2026.

We have been going deep on the gold and silver markets for a few years now.

Back in early February this year, we collated what we’ve learned about gold and silver into this eBook:

(NOTE: this is different to the new silver focused eBook we released last week)

In our February eBook we share what we have learned about gold and silver, including:

• Why gold and silver prices are surging
• A quick history of gold and silver
• What a “mega bubble” is - when the price of gold and silver reach “astronomical” levels due to severe inflation and currency debasement
• Is the world about to enter a gold and silver “mega bubble”?
• Six books we found helpful to understand the drivers behind gold and silver markets

(this eBook is more about precious metals in general, if you want some educational Christmas reading to learn more about the history of gold and silver)

(Download here)

Back in February when we released this eBook, The gold price was US$2,800 per ounce ( now $4,470) and silver ~US$31 per ounce (now US$69)

(source)

(source)

The past performance is not and should not be taken as an indication of future performance. Caution should be exercised in assessing past performance. This product, like all other financial products, is subject to market forces and unpredictable events that may adversely affect future performance.

Since this eBook, we have added a couple of new gold stocks and a lot of new silver stocks, here are our current holdings (click on the link for our full investment thesis)

Our Gold Investments:

Titan Minerals (ASX: TTM)

• Market Cap: $240M
• Stage of Development: Definition
• Country: Ecuador
• Shares Held: 1,033,443
• Link to Investment Memo (IM): TTM

Kaiser Reef (ASX: KAU)

• Market Cap: $175M
• Stage of Development: Production
• Country: Australia
• Shares Held: 3,485,000
• Link to Investment Memo (IM): KAU

Black Bear Minerals (ASX: BKB)

• Market Cap: $126M
• Stage of Development: Definition
• Country: USA
• Shares Held: 1,853,118
• Link to Investment Memo (IM): BKB
  
  

Resolution Minerals (ASX: RML)

• Market Cap: $82M
• Stage of Development: Exploration
• Country: USA
• Shares Held: 27,016,400 + 29,679,160 options
• Link to Investment Memo (IM): RML
  
  

Haranga Resources (ASX: HAR)

• Market Cap: $68M
• Stage of Development: Definition
• Country: USA
• Shares Held: 8,816,637
• Link to Investment Memo (IM): HAR
  
  

BPM Minerals (ASX: BPM)

• Market Cap: $18M
• Stage of Development: Exploration
• Country: Australia
• Shares Held: 4,203,198
• Link to Investment Memo (IM): BPM
  
  

Pursuit Minerals (ASX: PUR)

• Market Cap: $18M
• Stage of Development: Exploration
• Country: Argentina
• Shares Held: 5,675,105 + 610,356 options
• Link to Investment Memo (IM): PUR

Our Silver Investments:

Sun Silver (ASX: SS1)

• Market Cap: $302M
• Stage of Development: Definition
• Country: USA
• Shares Held: 3,104,402
• Investment Memo (IM): SS1

Investigator Silver (ASX: IVR)

• Market Cap: $207M
• Stage of Development: Feasibility Study
• Country: Australia
• Shares Held: 13,714,286
• Investment Memo (IM): IVR

Black Bear Minerals (ASX: BKB)

• Market Cap: $126M
• Stage of Development: Definition
• Country: USA
• Shares Held: 1,853,118
• Investment Memo (IM): BKB

Mithril Silver and Gold (ASX: MTH)

• Market Cap: $91M
• Stage of Development: Definition
• Country: Mexico
• Shares Held: 2,211,336 + 2,177,000 options
• Investment Memo (IM): MTH

West Coast Silver (ASX: WCE)

• Market Cap: $80M
• Stage of Development: Exploration
• Country: Australia
• Shares Held: 3,908,000
• Investment Memo (IM): WCE

Rapid Critical Metals (ASX: RCM)

• Market Cap: $65M
• Stage of Development: Definition
• Country: Australia
• Shares Held: 13,213,572
• Investment Memo (IM): RCM

Advance Metals (ASX: AVM)

• Market Cap: $60M
• Stage of Development: Definition
• Country: Australia / Mexico
• Shares Held: 10,500,002
• Investment Memo (IM): AVM

Pantera Minerals (ASX: PFE)

• Market Cap: $10M
• Stage of Development: Exploration
• Country: USA
• Shares Held: 11,853,770 + 3,460,950 options
• Investment Memo (IM) - PFE

So we are ready for a big year for gold and silver in 2026...

Big move last night in the OTHER giant Nevada silver deposit - Hycroft Mining.

We are invested in SS1 for its giant 539M ounce silver equivalent deposit in Nevada, USA.

In September this year, we went to visit the OTHER giant, multi hundred million ounce silver deposit in Nevada...

NASDAQ listed Hycroft Mining...

(note Hycroft is not listed on the ASX)

Since our visit, Hycroft is up almost 500%...

And shot up a full 50% last night on some big silver drill results.

Hycroft is now capped at ~A$3 Billion...

Our Investment with a giant Nevada silver deposit, SS1 is capped at $302M.

SS1 is listed on the OTC markets in the US with plans for a much bigger NYSE or NASDAQ listing in the future. (source)

(read our Hycroft site visit notes here)

Hycroft’s capped in the billions, so a 50% move up in one trading session is very out of the ordinary....

(source)

The past performance is not and should not be taken as an indication of future performance. Caution should be exercised in assessing past performance. This product, like all other financial products, is subject to market forces and unpredictable events that may adversely affect future performance.

Hycroft was also one of the handful of meme stocks that managed to capture market imaginations back in the 2020-2021 bull market.

So the US retail market seems to be catching onto precious metals...

(also good for all of our US based precious metals companies or those with OTC listings)

The Sprott Silver Miners ETF (SLVR) is buying a few of our silver stocks

The Sprott Silver Miners & Physical Silver ETF is a Nasdaq‐listed fund that seeks to track a silver‐focused index by investing mainly in silver mining companies and some physical silver.

They share daily updates on the silver stocks they hold (you can see it here, just scroll down to “holdings”)

We check this page almost every day to see if any of our silver Investments are getting index buying in them.

Earlier in the year the only stock that was in the Sprott Exchange Traded Fund (ETF) was SS1.

As of the 19th of December we now have four of our silver stocks in the ETF - SS1, IVR, WCE, and BKB:

BKB looks like the latest entrant, where the position is still relatively small.

This Sprott ETF usually does an end of year rebalancing in December - so maybe we see a fair bit of buying in some of these names over the next few days as the index tries to readjust its positions...

IF the indexes are tripping over each other to rebalance at the same time as the rest of the market trying to get silver exposure, we could get some big volume days over the next few weeks.

Whatever happens, we will be watching.

New silver eBook

(in case you missed it)

The highest it has ever been in its history.

In this eBook we share why we think the silver price has just started a “generational

price run”.

And why this silver price run we are predicting will take ASX silver stocks with it.

We’ll also share a quick overview of the 8 ASX silver stocks we are Invested in.

(if you want to know them right away their ASX codes are SS1, BKB, MTH, RCM, AVM, IVR,

WCE, PFE) - more on each in the eBook.

(Download here)

Another favourite macro thematic for 2026 - USA Critical Minerals

Another one of our favourite macro thematics for 2026 is US critical minerals.

We think the US is going to have a 2-3 year period of giant capital inflows into its domestic critical minerals supply chain.

The biggest beneficiaries being the companies who were existing incumbents in the industry OR those who were the fastest movers into the space.

See our US critical minerals Investment Thesis in detail in our eBook here:

(Download here)

Our US Critical Minerals Investments:

Sun Silver (ASX: SS1)

• Market Cap: $302M
• Critical Mineral Exposure: Silver, Antimony
• Shares Held: 3,104,402
• Link to Investment Memo (IM): SS1
  
  

Resolution Minerals (ASX: RML)

• Market Cap: $82M
• Critical Mineral Exposure: Antimony, Tungsten
• Shares Held: 27,016,400 + 29,679,160 options
• Link to Investment Memo (IM): RML

Locksley Resources (ASX: LKY)

• Market Cap: $75M
• Critical Mineral Exposure: Antimony, Rare earths
• Shares Held: 4,890,278
• Link to Investment Memo (IM): LKY
  
  

IonDrive (ASX: ION)

• Market Cap: $53M
• Critical Mineral Exposure: Critical Minerals Recycling
• Shares Held: 21,953,727
• Link to Investment Memo (IM): ION
  
  

Viking Mines (ASX: VKA)

• Market Cap: $20M
• Critical Mineral Exposure: Tungsten
• Shares Held: 95,000,000
• Link to Investment Memo (IM): VKA
  
  

Lodestar Resources (ASX: LSR)

• Market Cap: $14M
• Critical Mineral Exposure: Heavy Rare Earths
• Shares Held: 38,596,178 + 25,393,930 options
• Link to Investment Memo (IM): LSR
  
  

Pantera Minerals (ASX: PFE)

• Market Cap: $10M
• Critical Mineral Exposure: Silver, Antimony
• Shares Held: 11,853,770 + 3,460,950 options
• Link to Investment Memo (IM): PFE

See you in 2026?

Yes...

But we’ll probably still be quite active over this last week of 2025 given the level of interest still in the small end of the ASX markets this year.

(“but honey, you said the market shuts down during Christmas and New Year”)

And we’ll see you tomorrow around market open for our new Tech Pick of the Year.