While everyone’s chasing the next tech trend, Kelsey Dunwoodie of Deans Knight Capital Management is digging where Canada’s real wealth—and entrepreneurial spirit—lies: in the ground. On this episode of In the Money with Amber Kanwar, the Deans Knight Capital Management portfolio manager lays out the bullish case for Canada’s great resource comeback. From gold miners to natural gas producers, she argues the next wave of growth will come from small and mid-cap companies built by hands-on founders who’ve weathered every boom and bust.
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Champion Iron (TSX: CIA)
“Iron is steel’s premium diet. Champion bought Bloom Lake out of bankruptcy, did the hard yards, and now flip the switch from capex to cash. Tight float, premium product, Canada address—when sentiment turns, this one can rerate fast.”
- Producing cleaner, higher-grade iron that fetches better prices in steelmaking
- Inflection point: capex cycle ending → cash-generation cycle beginning.
- Tightly held stock amplifies upside on good news.
- Replacement value of assets could be double or triple the current share price
Denison Mines (TSX: DML)
“Uranium is baseload reality, not a bumper sticker. Denison plays the contracts, not the uranium spot price—run by operators who actually understand the physical market. If you believe reactors get built, this is clean torque with real stewardship.”
- Contracting strategy over spot adds durability to the thesis.
- Best-in-class team lead by “exceptional” CEO David Cates with true understanding of marketing physical uranium.
- Canadian tier-one jurisdiction aligned with utility buyers.
Paramount Resources (TSX: POU)
“Funded growth is the rarest commodity. They sold big, paid out, and still have the runway—going from ~30k BOE/d toward real scale without passing the hat. The Riddell family, owner-operators to the core, are steering for the long term.”
- Self-funded path from today’s base to materially higher volumes.
- No equity dilution required to fund growth
- Liquids-rich mix drives better margins through cycles.
- The Riddell family’s ownership aligns decisions with long-term value.
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DISCLAIMER: The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice. The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company
