Dennis da Silva’s Picks to Ride the Commodity Supercycle
From oil stability to Yukon gold exploration, Dennis da Silva highlights resource stocks with resilience and explosive upside potential.

The resource sector in 2025 is in the middle of a remarkable transformation. Gold has more than doubled in just three years, propelled by mounting geopolitical risks, economic uncertainty, and central banks’ insatiable demand for safe haven assets. For years, equities lagged behind the bullion rally, but that lag is no more. The S&P/TSX Gold Index has soared 120 percent year-to-date, its best showing since 1993. Investors who once dismissed miners are now flooding into the space, eager to capture leverage to bullion’s bull market.
At the same time, global supply chains for critical resources are facing massive disruptions. The tragic mudslide at Freeport-McMoRan’s Grasberg mine in Indonesia has effectively shut in four percent of the world’s copper production, and analysts do not expect full output until at least 2027. Add to that the leadership changes at Barrick Gold (TSX: ABX) (NYSE: GOLD) and Newmont (TSX: NGT) (NYSE: NEM), plus the proposed Anglo American–Teck Resources (TSX: TECK.B) merger, and it is clear the sector is entering a new era where corporate strategy is as much a driver as commodity prices.
Against this backdrop, Dennis da Silva, senior portfolio manager at Middlefield Limited, believes resource stocks are primed to deliver. His latest top picks focus on companies with strong fundamentals, leverage to global trends, and the potential to reward investors as the cycle continues.
