Erik Wetterling – Value Proposition Updates In Amex Exploration, First Nordic Metals, and Firefox Gold
[Recorded December 17th, 2025]: Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins me to update us on the value proposition he see in 3 gold exploration stocks, based around recent press releases and milestones.
He sees this newsflow and fundamental catalysts as much more relevant for any changes to the company’s valuation (either up or down), rather than the improving sentiment within the backdrop of rising underlying precious metals price environment.
The companies we discuss in this interview are:
- Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) – On December 16th announced the closing of its acquisition of a 100% undivided interest in the 324 non-contiguous mining claims comprising 8,392.92 hectares in the Abbotsford and Hepburn Townships in the province of Ontario. These adjacent Abbotsford and Hepburn Projects will compliment their land concessions at their flagship Perron Gold Project in Quebec.
- Additionally, on December 17th, Eric Sprott announced that, 2176423 Ontario Ltd., a corporation beneficially owned by him, sold 14,868,200 common shares of Amex Exploration Inc., through a private agreement, at $4.00 per Share for total consideration of $59,472,800. On the same day, Eldorado Gold Corporation (TSX: ELD) (NYSE: EGO) acquired ownership of 14,868,200 common shares of Amex Exploration Inc. at a price per Share of C$4.00, for total consideration of C$59,472,800, pursuant to a private agreement with a third party (which were Eric Sprott’s shares). This takes Eldorado Gold up to a 27% strategic investment in Amex Exploration.
- First Nordic Metals Corp. (TSXV: FNM) (FNSE: FNMC SDB) (OTCQX: FNMCF) and Mawson Finland Limited (TSXV: MFL) (FRA: PM6) – On Dec. 16, 2025 announced the successful closing of the previously announced acquisition by First Nordic of all of the issued and outstanding common shares of Mawson by way of a court-approved plan of arrangement.
- The Transaction consolidates a large and prospective gold development and exploration portfolio in Sweden and Finland, including First Nordic’s Barsele Project, a joint venture with Agnico Eagle Mines Limited and its Gold Line Belt projects in northern Sweden and Oijärvi Project in Finland, and Mawson’s Rajapalot Project and surrounding Rompas-Rajapalot Property in northern Finland. In connection with the Transaction, the Company will change its name to Goldsky Resources Corp., subject to receipt of the approval of the TSX Venture Exchange.
- FireFox Gold Corp. (TSX.V:FFOX) (OTCQB:FFOXF) – On December 8, 2025 reported results from an additional four holes of its 2025/26 diamond drilling program at the Company’s 100%-held Mustajärvi Gold Project in Lapland, Finland. Drill hole 25MJ005 is among the best holes yet drilled on the property, extending both shallow and deeper high-grade gold zones well to the west from previous drilling at the East Zone.
- We went on to speculate on how Agnico Eagle may be willing to negotiate turning over their JV interest on Barsele in Sweden with First Nordic, to focus on a regional consolidation in Finland of Firefox, Rupert, and Aurion into a district camp. Agnico already has a strategic position in both Rupert and Firefox.
* In full disclosure, the companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.
Investment disclaimer:
This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.
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There are a lot of have a penny take a penny and then do a swan-dive stocks out there. Most recently we have witnessed the crash in Emerita Resources. This goes on all the time and is why most investors lose their shirts. They play the market for peanuts and when they get peanuts back they refuse to take a profit. Then they are left with a loss but instead of trying to figure how to win they still keep using the same strategy. It’s like dating the same type of person and finding that you can’t have a long term relationship because it is your logic that is flawed.
Go for “THE BIG SWING”, don’t trade for pennies. If you lose when you first enter a trade then move on, don’t let the loss ruin your trading base, the preservation of capital is what keeps the winners winning and the losers losing………….! DT 😊
Emo not a good example. It is price suppression based on the Criminal Court decision. Shorts took advantage of the criminal decision but the Administrative court is the important decision determining the award of AZN and that is pending. AZN is additive to the value, as EMO stands on its own for its other projects. The overall situation is that EMO dropped from being undervalued through intervention after the court decision, and in reality, was undervalued before the hit due to intervention. Corruption by the elite and government has been the price driver with EMO, when in reality EMO is a buying opportunity due to intervention and not a lost sale. EMO is a buy.
Corruption is a fact of life, but you refuse to see it and that makes you vulnerable as an investor. WHY? Because you don’t understand human personality. If you don’t understand the psychology that motivates people then you have placed yourself at a disadvantage. Markets are all about human psychology. DT 😊🤣🧨
Furthermore I didn’t attack EMO what I did was point out that if you don’t take a profit when you have one on penny stocks the only alternative is a loss. Read what I said not what you think I said. I used Emerita as an example: DT
DT say’s:
There are a lot of have a penny take a penny and then do a swan-dive stocks out there. Most recently we have witnessed the crash in Emerita Resources. This goes on all the time and is why most investors lose their shirts. They play the market for peanuts and when they get peanuts back they refuse to take a profit. Then they are left with a loss but instead of trying to figure how to win they still keep using the same strategy. It’s like dating the same type of person and finding that you can’t have a long term relationship because it is your logic that is flawed.
Your point is s good one that being take profits when you can when holding penny stocks due to volatility. Emo is not a good example because of the artificial price resulting from being exposed to corruption. The price is affected by more than volatility. Hydrophene Clean Air might be more typical. It is a popular stock that had a good run, as far as anyone can determine it looks like it may have some possibilities, and during the recent correction fell back. The whole Sector may have been “intervened in” by managed money and bullion banks, but there wasn’t the Elite money and government “corrupt” forces directed at the Sector like Emo has had. The court issues in Emo are corruption and price has been affected outside of a Sector correction. That is all I have been saying: you are right with most every Junior miner. But, with Court actions pending and people actually present for the trial and being able to assess probabilities, investors in Emo have to hold when expectations of positive end results. The Market Makers move the price upward or downward before the investor knows the drill results, the licensing, the Verdict or other pending issues of significance. Its a risk that is different than a market correction.
When I read through the articles above what strikes me is FireFox Gold Corp, and in particular that Agnico Eagle has strategic position in both Rupert and FireFox. DT
https://www.tradingview.com/x/g16u44aB/
ETHEREUM : Week Ending Target