The RIU Explorers Conference returned to Fremantle’s Esplanade Hotel this week to kick off the 2026 conference cycle and provide a timely look at a resource sector in transition.
Over the three days, both industry and investors gathered to navigate a market currently shaped by geopolitical shifts, AI-driven energy demands, and volatile commodity pricing. Featuring 149 exhibitors and 105 presentations, the milestone event offered a practical assessment of the forces driving gold, uranium, and critical minerals. White Noise was on the ground, as Companies showcased their projects and investors assessed their next move.
Against the backdrop of classic, warm Fremantle weather, the upbeat atmosphere inside the Esplanade was a clear sign of the market strength rolling over from the December quarter. The 25th-anniversary milestone drew a fantastic crowd, making it challenging to find an available seat in the auditorium, particularly on day one. The celebratory tone was set right from the opening address, and Capricorn Metals took home the prestigious Craig Oliver Award in recognition of their standout all-around achievements in the sector.
Setting the macro stage early on Tuesday, Canaccord Genuity’s Head of Mining Research, Reg Spencer, delivered a market update, arguing that the current market chaos, including gold’s dramatic early-2026 swings and uranium’s fluctuations, is merely a side effect of a massive, multi-year supercycle.
Spencer laid out the case for a “Structural Everything” bull market. He emphasised that the AI boom isn’t just a tech story but also a hardware story. The significant energy required for data centres and the wiring needed for electrification are driving demand for uranium, copper, and tin. Combined with geopolitical issues plus falling discovery rates and massive capital costs, Spencer’s bottom line was a big call – that the era of cheap, abundant metals is officially over, and the long-term trend remains firmly “bottom-left to top-right.”
As the conference progressed, there was discussion around the global “debasement trade” pushing precious metals higher and the reality of government interventions effectively setting new, higher price floors for commodities. Whether companies were discussing the resurgence of uranium as a critical energy pillar or navigating complex foreign investment (FIRB) regulations, the consensus was that fundamentals remain exceptionally strong for those willing to brave the volatility.
After a marathon of rapid-fire presentations and networking, the three-day program was brought to a close by Sean Russo, Joint Managing Director and Principal of Noah’s Rule. Delivering the final presentation intriguingly titled “Two-Hundred-Dollar Pushbikes in the Park,” Russo’s word per minute count was nothing short of break-neck speed in order to cram his 30-minute presentation into 20 minutes. Once again, he provided a fitting and entertaining bookend to the conference for the many that stayed the course.
