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Derek McPherson

Derek McPherson

CEO & President of West Point Gold Corp (TSXV:WPG), a mining executive and frequent commentator on gold, silver, and hard-asset investing.

Jul 7, 2026

0:40
I mean, how are you looking at the metal right now, and what we've seen in terms of the price action since the announcement of Kevin Warsh, and then in that time also the outbreak of the situation with Iran?
0:51
Yeah, I think the, um, I- I think the, the market overcooked Kevin Warsh, what his, what his view of the world is.
0:58
Um, I think the...
0:59
even his, his initial statements, you know, being data-driven, et cetera, I think the, the market got ahead of itself pricing in the rate hikes, and then I think that initially got a... was heavy on gold, and now that that's, uh, that's lifted, uh, gold, the gold price has lifted as well.
1:13
The other thing that I would say, though, is that from that, from that peak where we were at, I mean, s- gold got really overbought.
1:19
It really did get ahead of itself.
1:20
It had the un- had big underlying fundamental catalysts that were pushing it ahead, and those things are still there.
3:09
How important is central bank buying and continued central bank buying in the long-term investment case for gold?
67:26
Could you just walk us through the key targets and the timing and the size of the program, how many meters you're planning?
67:33
Yeah.
67:33
So we're just wrapping up a 20,000 meter drill program.
67:35
Um, and so, uh, that puts us in really good shape financially for, for the next drill campaign as well.
67:42
Um, the, where we've drilled, you know, that drill campaign really had two objectives.
67:46
Um, the first was to deliver our main resource at the Tyrone main zone, um, down to 300 meters.
67:51
And so we bet we spent, uh, the last probably almost over half the drill drilling campaign, just focus on that drilling down to the drilling down to 300 meters.

5 MINS LATER

73:19
Could you just talk about how that deal came about and what's the opportunity you see in the project overall?
speaker_0HOST
2:56
It's always viewed as a hedge, as you noted.
3:00
Yeah, I think those are the underlying drivers.
3:04
And then what you saw sort of what really caused the explosion of the gold price in 2025 was all of a sudden Western buyers stepped in.
3:13
So what we saw in 2022 and 2023, which gold had pretty good years in those years as well, if you look back relative to history, those were driven by that central bank buying.
3:24
What we saw in 2025 is sort of Western investors and Eastern buy.
3:30
And the Eastern buyers tend to buy more of the commodity.
3:33
So they'll buy gold, physical gold.
speaker_0HOST
5:35
It's sort of like gold's little brother or something, right?

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