Mining Stock Education

Quinton Hennigh, exploration geologist, fund advisor, and CEO of San Cristobal Mining, shares tips on how to identify elite geologists and new discoveries which others miss. He talks about the current exploration market and where the industry is in a metals bull cycle. Hennigh argues mining and exploration have been undercapitalized for years and that supply constraints, permitting delays, lab capacity limits, and shortages of technical staff and drillers create bottlenecks that could support a long bull market as gold and silver find new price floors. He discusses faster field-friendly assay approaches and why exploration often doesn’t require ultra-low detection limits. Hennigh explains what separates elite geologists—mentorship, system-scale thinking, efficient drilling strategy, metallurgy focus. Investors should notice early “100 gram-meter” intercepts—and uses Snowline as an example why. He outlines jurisdictional opportunity in Bolivia, San Cristobal’s community engagement through mining education supp

John Passalacqua, CEO of First Phosphate, provides an update on the company’s Quebec igneous phosphate project intended to produce purified phosphoric acid for LFP batteries. Passalacqua discusses a Danish Export Credit Agency LOI for up to 170 million euros for equipment and services, building on prior support including a Canadian federal non-repayable $16.7 million contribution and a similar 170 million US dollar EXIM Bank LOI, alongside a definitive bankable offtake agreement with some prepayment. He explains milestones needed to convert LOIs to definitive financing, with feasibility targeted by end-2026 and permitting in early 2027, supporting an aggressive 2029 production target. The conversation also covers completion of ~40,000 meters of infill drilling, discovery of two new zones that may expand the pit and resource, and the rationale for building a local North American/Western LFP supply chain amid geopolitical supply-chain disruptions. 00:00 Intro 00:56 Danish Financing LOI 02:25 Trade Tensions and

Veteran junior mining speculator John Kaiser of KaiserResearch.com, believes we are “in the third inning” and on the threshold of a three to five year “mother of all resource bull markets.” John explains how he is playing this bull market and offers his current forecast in this MSE episode. 00:00 Bull Market Setup 00:54 Gold Pause Outlook 02:46 Rotating Winners 04:24 Portfolio Framework 07:19 Small Cap Focus 08:39 AI Research Tools 10:39 Critical Metals Reality 17:02 Prospect Generator Strategy 20:40 LIFE Financing Debate 22:29 Management Versus Project 26:59 Third Inning Timeline John’s subscription services: https://www.kaiserresearch.com/g11/Home.asp https://kaiserresearch.substack.com/ Sign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: http://eepurl.com/cHxJ39 Mining Stock Education offers informational content based on available data but it does not constitute investment, tax, or legal advice. It may not be appropriate for all situations or object

Lara Exploration President and CEO Dr. Simon Ingram provides an update focused on the company’s recently closed C$33M (about US$25M) financing at C$3/share with no warrants. Ingram says the funding provides several years of runway to advance the Planalto copper-gold open-pit project from PEA toward feasibility by drilling the resource (moving inferred/indicated toward indicated/measured) and completing technical and environmental studies. A European copper producer, Atalaya Mining, invested at the corporate level for a 7% stake with no special rights, alongside other institutions, and management also participated. Ingram stated his belief that the Planalto project will be a copper mine and is currently undervalued, which presents a compelling investment proposition. Near-term catalysts include ongoing drill results and follow-up drilling on the Silica Cap trend into the Atlantica license, targeting potentially higher-grade copper mineralization. 00:00 Intro 01:01 Why Raise C$33M? 01:49 Funding Planalto Workp

Coppernico Metals CEO Ivan Bebek shares the rationale behind optioning key adjacent concessions near its Tipicancha epithermal-porphyry target prior to commencing drilling at its Sombrero copper-gold project in Peru. Coppernico has identified seven large-scale targets to be drilled over the upcoming 18 months, Ivan explains. Drilling is expected to begin in May 2026. Sponsor: https://coppernicometals.com/ TSX:COPR; OTCQB: CPPMF; FSE: 9I3 00:00 Intro 00:26 Sombrero Claims Update 00:59 Tipicancha Target Rationale 03:16 Land Position Strategy 03:41 Seven Drill Targets Overview 04:55 Drilling Timeline and Sequence 06:35 Financing Plans and Demand 08:33 Community Access and Permitting 09:40 Drill Program Scale and Methods 10:45 New Targets and Learnings 12:56 Good Lucky Target Discussion 14:13 Conclusion Press release discussed: https://coppernicometals.com/coppernico-options-key-concessions-at-sombrero/ Sign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: h

Host Bill Powers interviews returning guest Jamie Keech of ResourceInsider.com, a former mining engineer, on why his “energy decade” thesis is strengthening as tech-driven demand (especially data centers) pushes huge new power requirements. Keech explains how Resource Insider evolved from a gold-and-copper newsletter into a larger team with expanded exposure to uranium, lithium, and privately built energy businesses including an Oklahoma energy royalty venture and a North Dakota terminal acquisition that has begun paying dividends. In mining stocks, he says their historic performance showed consistent outperformance in advanced-stage explorers with resources/data, strong teams, and stable jurisdictions, while grassroots exploration largely failed unless returns came from private-to-public arbitrage. He updates Mayfair Gold after Muddy Waters’ board changes and announces a new public stock-picking product alongside their historic private-placement focus. 00:00 Intro 00:30 Energy Decade Thesis 01:02 Carrying C

Dundee Corporation CEO Jonathan Goodman argues mining has entered a “generational opportunity” after generalist investors largely abandoned the sector post-2010 and amid growing recognition that North America needs secure domestic supply chains and new mines. Goodman expects Canada and the U.S. to streamline permitting, citing direct government outreach and the view that permitting should not take a decade. Drawing on mine-building experience at Dundee Precious Metals in Bulgaria and Serbia, he explains why discounted cash flow and NI 43-101 stage-gate studies can mislead and can often be no more than marketing documents. He urges investors to focus on recommendations and risk sections of studies and to assess orebody quality first. He shares insights regarding stakeholder biases, Dundee’s approach to independent technical review, preference for mainstream metals, examples of contrarian success, why merchant banks trade at NAV discounts, and Dundee’s strategy to add predictable cash flow, including its Westha

Atomic Eagle CEO Phil Hoskins stated: “To deliver a 24% increase in total resources from our maiden drill program – and to do so at a cost of just US$0.05 per pound – is a strong endorsement of our exploration approach and the potential scale of the uranium resources across our Muntanga Project area. This resource upgrade is a great start to achieving the Exploration Target we announced for the Project late last year. The Company aims to materially increase the mineral resource to underpin a significantly larger uranium mine in Zambia. We’re embarking on the largest drill program for the Project in almost 20 years later this month and we see clear scope for this program to significantly expand the Project’s resource inventory and unlock further value for shareholders.” https://atomiceagle.com.au/ ASX: AEU - OTCQB: AEUXF Press Release Discussed: https://wcsecure.weblink.com.au/pdf/AEU/03063707.pdf 00:00 Intro 00:26 Resource Up 24% 02:12 Why This Project 03:55 New Targets Ahead 05:43 Low-Cost Uranium Dri

Host Bill Powers interviews Scorpio Gold CEO Zane Kalyan and Executive Technical Director Leo Hathaway about exploration at the consolidated Manhattan District in Nevada ten miles south of Kinross’ Round Mountain. Hathaway explains why the underexplored trend with historic pits and workings attracted him, his role overseeing exploration and communicating a Lumina Group-style plan to grow the current 740,000-ounce pit-constrained inferred resource toward a 2-million-ounce year-end target and possibly beyond. They discuss Black Mammoth’s geology on the Reliance Fault and why hole 57 is viewed as a “discovery hole,” highlighted by 40.23m of over 1 g/t gold from 195m downhole, with systematic 50 m step-outs and additional holes underway. They also review early Iron Queen diamond-drill results, ongoing three-rig drilling, six holes recently shipped for assays, claim diligence, and additional targets such as Keystone Jumbo and Hooligan, plus the district’s April Fool claim history. 00:00 Intro 00:43 Why Leo Chose

Pro Investor David Erfle reveals how he is managing the recent junior mining volatility and sell-off. David reminds listeners that in small resource stocks risk management is number one. Although he is not predicting it, he even sees the possibility where gold might trade down to $2,800/oz. If gold closes a week below $4,200/oz that is a threshold that David expects would trigger more selling. This recent sell-off, he explains, also creates a nice possible entry point for new gold stock investors. Dave emphasizes that fundamentals remain bullish longer term, but risk management, taking profits, and accumulating in tranches are essential, especially for newer entrants. David Erfle is a self-taught mining sector investor. He stumbled upon the mining space in 2003 as he was looking to invest into a growing sector of the market. After researching the gains made from the 2001 bottom in the tiny gold and silver complex, he became fascinated with this niche market. So much so that in 2005 he decided to sell his hom

In this month’s Junior Mining Insights discussion, Bill Powers and Brian Leni discuss the topics of recent junior mining volatility, opportunity cost, overthinking and “it’s cheap enough.” The duo shares their investment psychology, observations of sector participants, first-hand experience, and real-life stories from their own lives and portfolios. Bill and Brian also reveal a few books that they have recently read. 00:00 Intro 00:22 Portfolio volatility 02:14 Handling Big Drawdowns 05:24 Signal Versus Noise 09:01 Bias and Vetting Ideas 11:15 Overthinking Pitfalls 17:11 Process Builds Confidence 19:32 Portfolio Allocation and Greed 21:37 Cash Flow and Real Assets 23:54 Opportunity Cost and Priorities 27:19 Books and Uruguay Trip 36:43 Cheap Enough and Valuation 40:49 Luck Versus Skill in Wins Brian’s website: https://www.juniorstockreview.com/ Brian’s YT: https://www.youtube.com/@FIELD_NOTES Bill’s Twitter: https://x.com/MiningStockEdu Sign up for our free newsletter and receive interview transcripts, sto

Tim Clark, CEO of Fury Gold Mines, provides an update on the advancements at the Eau Claire gold project in northern Quebec as well as an overall corporate update along with SVP Bryan Atkinson. The key Eau Claire highlight was infill drill hole 26EC-099, which targeted an inferred portion of the Eau Claire resource and intercepted 11.74 g/t gold over 6.63 metres approximately 40m down plunge from previous drilling. A second hole, 26EC-101, which is a further 40m step down plunge outside of the existing resource envelope has just been completed and results are pending. “Drilling at Eau Claire continues to reinforce resource continuity, confirming mineralization remains well-developed and predictable within the deposit,” stated Tim Clark. “Importantly, the program shows the potential to grow the deposit between resource blocks (the Gap Zone) in shallow previously untested areas, and we look forward to continued drilling to further de-risk and expand Eau Claire as we unlock additional value for shareholders.”

Tavi Costa, founder and CEO of Azuria Capital, reveals three contrarian macro trades for which, he says, “people will call me crazy.” He also discusses the recent gold sell-off, which Costa argues does not fit a typical liquidation event since equities and treasuries were not crashing; he suggests an alternative possibility that Iran or other gray-area actors may have sold gold accumulated via oil trade outside the dollar system. Costa says the pullback created an oversold buying opportunity and expects gold to be multiples higher over 5–10 years, driven by dollar devaluation tied to U.S. twin deficits, central-bank buying, stagnant mine supply, deglobalization, and portfolio reallocation toward gold. He also addresses multipolarity and petrodollar concerns, favoring gradual shifts rather than a near-term reserve-currency change. Costa describes rotating across commodities, taking profits in energy, buying gold and quality miners, and adding contrarian options positions. 00:00 Intro 00:45 Gold Sell-off Expla

Host Brian Leni interviews Amanda van Dyke, founder and managing director of the Critical Minerals Hub and author of The Mineral Imperative, about rising mineral demand, supply-chain complexity, and geopolitical risk. Van Dyke says global metals and minerals output has doubled over 25 years and must at least double again to maintain today’s economic level, while mining faces lower grades and a discovery drought. She warns shortages can trigger volatile outcomes, including trade and shooting wars, noting China invested about $1 trillion over 25 years to control roughly 60% of the global metals/minerals supply chain and 90% of some small critical metals. They discuss Strait of Hormuz disruption risk, U.S. defense stockpiles, government-backed price floors like the MP Materials rare earth deal, G7 coordination, and why EU anti-mining policies and permitting risk make it a poor investment jurisdiction after losing 40% of mining capacity. 00:00 Intro 00:57 Meet Amanda Van Dyke 02:25 Why We Must Mine More 03:48 Sc

Tomasz Nadrowski is the author of “Mineral War: China’s Quest for Weapons of Mineral Destruction.” In this episode, host Bill Powers interviews Tomasz to understand the nature of this mineral war so that investors can discern the best profit opportunities. Nadrowski shares that China has quasi-monopolized and weaponized critical mineral supply chains, forcing the West to rebuild upstream-to-downstream value chains where geopolitics can matter as much as geology. He describes his mining and hedge fund background, his fund’s focus on rare earths, battery materials, and specialty metals, and the need to assess offtake, processing capacity, and government policy. Tomasz argues effective policy requires three levers: upstream reference prices, protection via tariffs, and downstream incentives to adopt Western/allied materials instead of cheap Chinese supply; he criticizes cost-plus pricing while viewing the MP Materials deal as a market signal lowering capital costs. The discussion covers tungsten (China’s ~82% co

Seasoned resource investing expert Ed Baer returns to MSE and offers speculators candid advice. Ed discusses current resource-sector opportunities amid recent commodity enthusiasm and subsequent pullbacks. Baer explains why he got involved with Mogotes Metals in the Vicuna district near major projects and outlines aggressive drilling plans amid lab delays. He also assesses a current loser in his portfolio, Pan Global. Ed Baer currently serves as CEO and Executive Member of the Board of Directors for the private resource investment company DNA Gold Corp. Mr. Baer has extensive experience in strategic planning and business development, spanning over 30 years in the natural resources sector. In his capacity as Interim Chairman and CEO of European Goldfields Ltd., he effected the transformation of the company through strategic initiatives that leveraged his project management, financing and capital markets experience. Mr. Baer also served in a senior corporate development capacity to Greystar Resources Ltd., and

Bill Powers interviews Shawn Khunkhun, CEO of Dolly Varden Silver, for an update on Dolly Varden’s proposed merger with Contango Ore. The merger is expected to close around March 26 after shareholder votes and final court approval, with the combined company trading as CTGO on NYSE American and also listing on the TSX. Khunkhun outlines a $50M ETF/index buying “catch-up trade” expected soon after closing, and emphasizes a $50M exploration budget funded by roughly $100M cash plus cash flow from an the Alaskan Mahn Choh producing mine, alongside $14.5M debt. He provides guidance targeting a 50% increase in silver inventory toward 100M ounces, improved gold resource conversion and grade, and discusses planned growth including Lucky Shot (production by 2028) and Johnson Tract capex, potential hub-and-spoke processing, and a scenario of up to $250M free cash flow in 2027. 00:00 Intro 00:27 Merger Timeline and Approvals 02:17 Exploration Strategy and Budgets 04:25 Balance Sheet and Funding Plan 05:26 Resource Growt

Bill Powers interviews resource fund manager Adrian Day about market volatility tied to war in Iran, comparisons to the late 1970s, and positioning in gold, oil, and commodities. Day argues the U.S. is moving into stagflation as employment and retail weaken while inflation remains stubborn, citing issues with unemployment data, rising credit card debt, and consumers trading down. He explains gold often rises before geopolitical events and then sells off as profits are taken, while remaining bullish on gold over the next 6–12 months. On oil, he says the oil stocks have rerated and are not especially cheap, so he has been selling oil stocks recently. Day expects commodities to benefit from underinvestment cycles and discusses copper supply constraints, demand risks from EVs and data centers, and his investment in Lara Exploration. 00:00 Intro 00:29 War Iran and 70s Echoes 01:42 Why Gold Shrugs Off War 04:12 Long Term Gold Bull Case 04:49 Oil Setup and ESG Headwinds 07:31 Stagflation Jobs and Spending 13:57 Inf

Bill Powers interviews First Phosphate CEO John Passalacqua following PDAC, where the company received a non-repayable C$16.7M grant and highlighted government support for critical mineral supply chains. Passalacqua says the funding de-risks the company through feasibility, permitting, and toward a final investment decision, with drilling nearly complete and a feasibility study targeted for December 2026. He explains LFP batteries are largely phosphate-based and that First Phosphate’s high-purity igneous phosphate resource in Quebec is rare and advantaged by proximity to infrastructure and a deep-sea port. He discusses phosphate being added to Canada’s critical minerals list and related tax credits for downstream facilities, outlines a 10,000 tpa LFP CAM plant concept pending tariff clarity, and reviews U.S. market access via OTCQX and a new 10:1 ADR, along with insider share purchases and recent stock highs. 00:00 Intro 00:54 Canada Grant Impact 02:11 Drilling and Feasibility Timeline 03:02 Why LFP Needs Ph

Bill Powers interviews Adrian O’Brien of Midnight Sun Mining at PDAC in Toronto about the company’s copper discovery in the Zambia–DRC copper belt amid competing US- and China-backed rail corridors to access regional copper. O’Brien recounts the company’s transformation from a ~$20–25M market cap to ~C$300M after regaining 100% ownership of its flagship Dumbwa target, raising C$10M and later C$30.5M, building institutional support, and hiring COO Kevin Bonel (formerly Barrick) to apply a Lumwana-style exploration approach. Midnight Sun is drilling its 20 km Dumbwa target soil anomaly systematically on a grid with multiple rigs, targeting a large near-surface basement-dome copper system, awaiting many assays, and positioning as an explorer aiming for eventual M&A while also monetizing an oxide resource. https://midnightsunmining.com/ TSXV:MMA OTCQX:MDNGF 00:00 Intro 00:28 Meet Midnight Sun 01:34 From Microcap to Funded 03:29 De Risking the Story 05:14 Africa Copper Hotspot 07:41 Rail Corridors Clash 09:33 W