Dylan S. Pumpkins’s review published on Letterboxd:
Pleasantly surprised that this was a lot less tomb raidy and more “how the fuck are we supposed to survive under the thumb of capitalism”. It doesn’t need to indulge in the occasional chase or overblown set piece, just these actors and a keen eye for composition is enough to keep the thrills alive. The spirit of adventure flows through the fireside chats and ensuing paranoia of these three vagabonds, constantly keeping the vast vistas of the Sierra Madre an itchy claustrophobic pressure cooker for the actors to stew in. You see the real treasure wasn’t the gold, it was all the acting choices made along the way!
I was really impressed by Bogart’s slow turn from leading man underdog into the haggard embodiment of greed, but I’d be lying if I said I wasn’t continually charmed by Walter Huston as the archetypal crazy old prospector (clearly wise beyond his years) who ends up living his best life sipping tequila in a small oasis away from the pursuit of happiness.