Gold To $17,000? Why A ‘Major Debt Crisis’ Reckoning Is Inevitable | Ryan King
Speakers
Ryan King
— EVP of Capital Markets at Equinox Gold
Summary
Ryan King argues that massive sovereign debt and money printing will push gold substantially higher, perhaps to $17,000/oz. He presents Equinox Gold as an undervalued senior producer with a strong growth pipeline and deep discount to peers. The conversation also touches on gold's correction, the AI stock bubble, and acquisition strategies.
- Gold reached all-time highs due to fiat devaluation and debt accumulation.
- Sovereign debt crisis and inflationary pressures will drive gold higher long term.
- Pierre Lassonde's $17,000/oz target for gold is based on M2 money supply.
- Equinox Gold merged with Calibre and Orla to become a 1.1 Moz/year producer in Canada/US.
- EQX trades at 0.5x NAV versus peers at 7-8x, a compelling valuation gap.
- Management includes industry veterans Ross Beaty, Pierre Lassonde, and Prem Watsa as backers.
- The current AI-driven stock market could be a bubble similar to the dot-com era.
Ideas
Equinox Gold deeply undervalued at 0.5x NAV
Equinox Gold trades at a deep discount to NAV (0.5x) compared to peers (7-8x) following its merger with Orla Mining. The combined company will produce ~1.1 Moz/year, mostly in safe jurisdictions (Canada/US), with strong management (Darren Hall, Jason Simpson, Chuck Jeannes) and backing from legends like Ross Beaty, Pierre Lassonde, and Prem Watsa. A 70% annual production growth rate over the next 5 years and a re-rating opportunity make the stock a compelling value play.
Up Next
This The David Lin Report video, published July 03, 2026, features Ryan King discussing EQX. 1 trade idea extracted by AI with direction and confidence scoring.