Wheaton Precious Metals is trading at record highs, and CEO Randy Smallwood says the company is positioned to extend that performance as rising costs pressure traditional miners.
Speaking with Kitco News anchor Jeremy Szafron at VRIC 2026 in Vancouver, Smallwood explains why the streaming model is designed to outperform in a high-price environment. “We take the cost risk outta the investment,” he said, noting that fixed streaming contracts protect Wheaton from inflation and dilution as operators are forced to mine lower-grade material and issue equity to fund growth.
Smallwood also discusses Wheaton’s newly secured Helo gold stream, calling the asset “a Canadian legend,” and explains why streaming pays full net asset value while preserving shareholder upside. Looking ahead, he says Wheaton expects more than $3 billion in cash flow in 2026, giving the company flexibility to fund new gold, silver, and copper streams as development activity accelerates. He adds that gold is no longer trading like a commodity. “It’s really a currency,” Smallwood said, pointing to sustained central bank demand reshaping the market.
Recorded January 25, 2026.
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00:07 – Wheaton at Record Highs as Streaming Outperforms Miners
00:48 – Randy Smallwood on Wheaton’s Strategy and Market Position
01:55 – Why Streaming Removes Cost Risk in a High-Price Market
03:27 – Inside the Helo Gold Stream and Wheaton’s Partner Model
07:56 – Sustainability, Jurisdictional Risk, and Deal Discipline
10:05 – Gold as Currency, Silver as Critical, and the 2026 Outlook
22:25 – Growth, Cash Flow, and Capital Deployment
#Gold #Silver #PreciousMetals #Mining #Streaming #GoldAsCurrency #CentralBanks #Inflation #CriticalMinerals #MiningStocks #Wheaton #RandySmallwood #KitcoNews #VRIC2026
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The videos are not intended to provide trading advice, and the views expressed do not necessarily reflect those of Kitco Metals Inc. Kitco News, its anchors, producers, and reporters are not responsible in any way for the performance or actions of any sponsor, advertiser or affiliate of Kitco News. In no event will Kitco and its employees be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content in this video.
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36 Comments
Once again, an intelligent and especially professionally interesting debate
I see Rey is celebrating her 5th anniversary with Wheaton, as CCO.
I think she's doing an exceptional job. 👍 Wheaton brought her on just in time for this bull run.
CONGRATS REY!
Bonne synthèse, curieux d’une version plus avancée.
I'm new to wheaton, so i am in the red right now. I plan on holding it, i should be ok in the end?
Love my returns with Wheaton Precious Metals!!!
Thank you Jeremy for this excellent interview with Mr. Smallwood. Yup, gold and silver should be now viewed as a world currency!
Canadian truck maker Edison motors, looks like a sensible Heavy truck alternative. Built by the Truck users in B.C. They actually have a YT channel…
Solid interview. Thanks Jeremy.
Socialism is fine when I benefit from it
Jeremy is fast becoming one of my favorite interviewers. Randy Smallwood is the goat 🐐.
I am told GOLD will peak around $10,000 according to a man who claims to see visions from GOD and silver to peak around $175. I have followed this man, named BRANDON BIGGS, for about a year and a half. His predictions are in great detail and he has delivered astonishing results. One example, On New Years Day, 2025, there was a terror attack on Bourbon Street in New Orleans, and a TESLA blew up in front of the Mandalay Bay in Vegas. He predicted there would be 2 terror type events on News Years Day 2025. He said one of them would be in New Orleans on Bourbon Street. This came to pass. The prediction was made October 24 or 27, 2024. I can't remember the exact date, but the video is there on his channel about 3/4 of the way through, while Brandon is praying in tongues. He predicted the TRUMP win, every state he would win, a win for the Republican House and Senate, the extraction of Maduro months in advance, the recent storm that just hit the US months in advance, the assassination attempt on Candace Owens that has not happened, but she was made aware of, I could go on for days.
Going back to GOLD…..Brandon predicted a GOLD run of the likes we haven't seen for years. There will be panic buying and people will go into old mines, a dangerous venture to try to extract any GOLD they can. People will bring in any and all GOLD jewelry to try to get anything they can for it. I love BITCOIN but most of the public know little about it or how to buy or sell it. That's a problem. A psychic I follow that has a pretty good track record on crypto predicted BTC would be a great buying opportunity in 2026, but in 2027, there will be a massive bull run.
Great interview, Jeremy. Your energy and preparedness are top-drawer! Thank you.
gold is not a currency, it is money!
PAAS and WPM are good partners. Look, PAAS will reopen those frozen projects in Argentina and Guatemala, and WPM provides funding to start off the projects for streaming fees. Both wins. Don't thank me)
Will they profit from rising gold prices???
or are there fixed contracts?
Your guest ‘s comments on pgm ignores the growing demand from the hydrogen industry which is not just for mobility. Powering Ai is growing hydrogen production.
Plz translation in hindi
អគុណលេាកខ្ញុំសន្សំមាសបានតិចតួច
I always learn plenty when I listen to Mr Smallwood. Thanks for the excellent content
nobody talks this fast!
.16 dividend. Seriously 😮
I think silver is going to 250 and settle there and the price action will be the bouncing between 150 and 250
Another good interview by Jeremy. Randy keeps making me glad I’m a Wheaton shareholder.
Everybody is sounding way too giddy over this.
The USA has become the miner and hoarder of last resort! 😮
The stock is $153.54 right now. Where do they get $200?
Love kitco news
Crazy run in the metals the last 2 years, and 1 year for Silver. Just WOW
❤❤❤❤
Looking at how EVER SINGLE comment here mentions the name "X……." In a positive way. Looks like a bunch of bits to me!
Raise the bloody dividend Mr 3billion!
Foreign Investment in USA Down 62.5% – Trump's TARIFFS (=taxes on American consumers) trigger Capital Flight !
Thanks to this channel I started buying gold & silver and mining funds in mid 2025. As you can imagine I am astonished at the returns, thank you.
How can I get precious metals from Wheaton?
Gold is money not currency.
Gold is money and not a currency