Podcasts about Mining

In this episode of the 90 Miles from Needles podcast, host Chris Clarke embarks on a detailed discussion with John Dougherty, Executive Director of Save the Scenic Santa Ritas Association, about the invasive copper mining initiatives threatening Arizona's sacred lands. Set against the backdrop of legal and environmental challenges, the conversation highlights the destructive potential of projects like the Copper World mine. With vibrant descriptions of Arizona's natural beauty juxtaposed with the stark reality of its exploitation for minerals, this episode paints an urgent call to action. Dougherty describes the controversial Copper World project, an expansion of the thwarted Rosemont Mine, spotlighting its predicted impact on local wildlife, sacred sites, and critical water resources. He explains the looming threats posed by massive open-pit mining and groundwater depletion. The discussion underscores the inadequacies and exploitation enabled by the General Mining Act of 1872, which allows mining companies to extract resources with minimal compensation to the public. Through strategic litigation efforts and community activism, Save the Scenic Santa Ritas aims to address and potentially halt these harmful mining activities. Key Takeaways: Save the Scenic Santa Ritas Association is actively opposing the Copper World mine to prevent environmental and cultural devastation in the Santa Rita Mountains. The Copper World project threatens sacred indigenous lands and critical water resources in Arizona, fostering ecological and community concerns. Arizona's legal framework, based on the General Mining Act of 1872, is scrutinized for its outdated policies favoring mining corporations without adequate environmental oversight or economic benefit to the community. The podcast underscores the importance of local and political action to combat environmental degradation and protect public lands from corporate exploitation. Dougherty advocates for grassroots support and encourages listeners to engage with local governance to enact restrictive policies on destructive mining activities. Notable Quotes: "If space aliens arrived with an orbital death ray and erased a valley in just this fashion, the nations of the world would go to war." "The damage doesn't just stop when the mining stops, the damage continues on forever." "The Ray Mine isn't the largest open pit copper mine in the state, but...it was about as stark and unexpected as I had ever seen." "This copper is going overseas...the company admits in its financial filings that the first four or five years will all be exported." Resources: Save the Scenic Santa Ritas Association: Website Contact Information for Arizona Government Officials: Reach out to Arizona's Governor Katie Hobbs at engage@az.gov and State Attorney General Kris Mays (https://www.azag.gov/to advocate for changes in mining regulation policies to protect Arizona's lands. Become a desert defender!: https://90milesfromneedles.com/donateSee omnystudio.com/listener for privacy information.

Interview with Richard Young, Chief Executive Officer of i-80 GoldOur previous interview: https://www.cruxinvestor.com/posts/i-80-gold-tsxiau-pitch-perfect-november-2025-8431Recording date: 19th November 2025i-80 Gold (TSX: IAUX) is executing a methodical three-phase development plan designed to transform the company from a marginal Nevada gold producer into a profitable mid-tier operator generating 200,000 ounces annually by 2028 with projected EBITDA of $200 million to $300 million. The company's third quarter 2025 results marked a critical inflection point, delivering the strongest financial performance in company history whilst completing permanent dewatering infrastructure that had previously constrained access to higher-grade mineralisation at the flagship Granite Creek underground mine.President and CEO Richard Young confirmed that permanent dewatering systems installed during Q3 2025 will enable accelerated underground development over the next six months into zones where "grades get better, ground conditions get better, and we expect mining rates to rise." A 47-hole infill drilling programme scheduled for completion in mid-December 2025 is yielding results that Young characterised as "consistently solid. Very good grades over very good widths," with a feasibility study incorporating these results expected at the end of Q1 2026 showing "materially better" economics than previous assessments.Construction of the Archimedes underground mine commenced in Q3 2025, providing the second production centre necessary to justify the strategic refurbishment of i-80 Gold's Lone Tree autoclave facility. The autoclave refurbishment represents the pivotal value creation opportunity in management's development thesis. With current toll milling costs ranging between $1,000 and $1,500 per ounce, i-80 Gold is effectively surrendering $200 million to $300 million in annual EBITDA at the 2028 production target of 200,000 ounces. Young stated unequivocally: "Strategically and economically, that refurbishment is very important for us to move forward with."Engineering firm Hatch has largely completed engineering work on the approximately $400 million autoclave refurbishment, with the board approving a $25 million limited notice to proceed authorising detailed engineering, long-lead equipment orders, and permitting initiation. The company expects to commence pouring gold through the refurbished autoclave before the end of 2027, creating an 18 to 24 month payback period on the capital investment at current gold prices.Beyond Granite Creek and Archimedes, i-80 Gold completed infill drilling at its Cove underground project during Q3 2025, with results showing the total mineralised envelope up between 10 and 20 percent compared to previous estimates. A feasibility study is scheduled for Q1 2026, with permitting targeted for completion before the end of 2028. The company will release three major feasibility studies between Q1 2026 and Q1 2027 covering its core underground operations, each expected to show material improvements over preliminary economic assessments.Management has received six term sheets from financing partners and is advancing toward recapitalisation completion by Q2 2026 to fund both phase one and phase two of the development plan. The company has successfully recruited experienced technical teams across mining engineering, metallurgy, and geology disciplines, a critical leading indicator of execution capability as i-80 Gold transitions from single-asset operator to multi-mine producer.For investors evaluating Nevada-focused gold producers, i-80 Gold offers substantial leverage to successful execution and higher gold prices, with the 2028 target of 200,000 ounces production and $200-300 million EBITDA generation providing a concrete benchmark for measuring management's progress toward transformational value creation.Learn more: https://cruxinvestor.com/companies/i-80-goldSign up for Crux Investor: https://cruxinvestor.com

In this episode, mining and commodities expert Mikhail Zeldovich joins host Constantin Kogan for a rare deep dive into the real engines of the global economy — critical minerals, geopolitics, and the future of resource investing.From BCG to Rio Tinto to negotiating in Beijing and analyzing assets in remote mining camps, Mikhail brings nearly two decades of on-the-ground experience across metals, energy transition, and global supply chains.He breaks down:⚒️ How he “accidentally” entered mining at BCG — and why he never left

The market rallied this week following Nvidia's earnings, only for it all to come tumbling down on Friday as bitcoin, tech, AI, and bitcoin miners sold off. Subscribe to the Blockspace newsletter for market-making news as it hits the wire! Welcome back to The Mining Pod! Today, Haley Thomson, the director of energy trading at Luxor Technology, joins us to talk about how AI demand is impacting the ERCOT power market. For news, we break down Nvidia's Q3 earnings and the market's Thursday morning reversal, dissect a load growth report that suggests there are currently 166GW of US load growth demand through 2030, and discuss Cipher's $830M extension with Fluidstack. And for this week's cry corner, The Financial Times is doing its best to report on AI like it has with Bitcoin. Subscribe to the newsletter! https://newsletter.blockspacemedia.com **Notes:** • Hash price at all-time low: $36.97/PH/day • Previous low was August 2024 at $38/PH/day • 166GW load growth projected through 2030 • Cipher's deal: $830M over 10 years • Google backstop: $333M revenue guarantee • Oracle lost $350B market cap post-AI deal Timestamps: 00:00 Start 01:56 Difficulty report 07:32 Nvidia smashes earnings 12:24 Grid Strategy Forecast Report 36:37 Cipher Fluidstack deal 39:25 Cry Corner: Oracle down bad?

There's mounting evidence from the United Nations and others that Chinese organized crime syndicates are moving more of their operations from countries in Southeast Asia to Africa. These groups are contributing to a surge in illicit crypto mining, scam centers, illegal wildlife trafficking, and black market weapons sales. African countries with already weak governance systems are particularly vulnerable. Géraud speaks with Adam Rousselle, a researcher and author who tracks the illicit arms trade, about his recent article on the topic published by the Jamestown Foundation. Adam explains how all of the different Chinese illegal trade networks in Africa are interlinked with one another. SHOW NOTES: United Nations Office on Drugs and Crime: Inflection Point: Global Implications of Scam Centres, Underground Banking and Illicit Online Marketplaces in Southeast Asia Jamestown Foundation: Illicit PRC-linked Finance Enables Arms Diversion in Africa by Adam Rouselle CHAPTERS: The Illicit Underworld – How illegal mining, logging, and weapons flows shape China–Africa debates Individuals vs the State – Why Chinese nationals abroad are often mistaken for Beijing's agents South Kivu Gold Trail – What the recent court case reveals about Chinese smuggling networks Governance Gaps – How weak enforcement and political protection fuel illicit economies Cryptocurrency Networks – The rise of Chinese-linked crypto operations in Nigeria and beyond Weapons on the Move – Why Chinese-made guns keep appearing in Africa's conflict zones The UAE Hub – How Dubai became the transit point for arms and illicit finance The Leaky Bucket – Why illicit flows don't imply coordination or state intent Local Complicity – The real role of African politicians, militaries, and brokers Reputational Risks for Beijing – Embassy frustrations and the cost of unmanaged actors Media Distortions – How U.S. and European narratives simplify complex realities JOIN THE DISCUSSION: X: @ChinaGSProject | @eric_olander | @christiangeraud Facebook: www.facebook.com/ChinaAfricaProject YouTube: www.youtube.com/@ChinaGlobalSouth Now on Bluesky! Follow CGSP at @chinagsproject.bsky.social FOLLOW CGSP IN FRENCH & SPANISH:  French: www.projetafriquechine.com | @AfrikChine Spanish: www.chinalasamericas.com | @ChinaAmericas JOIN US ON PATREON! Become a CGSP Patreon member and get all sorts of cool stuff, including our Week in Review report, an invitation to join monthly Zoom calls with Eric & Cobus, and even an awesome new CGSP Podcast mug! www.patreon.com/chinaglobalsouth

American Pacific Mining CEO Warwick Smith joined Mining Stock Daily to discuss the company's sale of the Palmer Copper-Zinc VMS project to Vizsla Copper for US$15 million in equity plus up to US$15 million in milestones. Smith said American Pacific always intended to transact the asset after securing full ownership last year and waited for the right partner. He highlighted Vizsla's strong track record and the improving policy backdrop in Alaska, including support from the governor and federal interest in critical minerals such as copper.Smith noted the substantial exploration potential remaining at Palmer, including untested high-grade copper boulders, and said Vizsla's recently upsized financing gives it the ability to drill aggressively. For American Pacific, the focus now shifts to the Madison project in Montana, which becomes the flagship. The company also intends to transact several Nevada projects, building a basket of equity positions alongside its core asset.He confirmed new staking at Madison after long-held in-lier claims became available, and said drilling is expected soon. Over the next year, the company plans to close the Vizsla transaction, complete Nevada deals, and advance Madison with deep drill testing. Smith emphasized that American Pacific is positioning itself for a streamlined portfolio, stronger balance sheet, and exposure to multiple exploration catalysts.

Thomas Morel joins Jana Byars to tell the story of subterranean geometry, a forgotten discipline that developed in the silver mines of early modern Europe, talking about his book Underground Mathematics: Craft Culture and Knowledge Production in Early Modern Europe (Cambridge UP, 2022). Mining and metallurgy were of great significance to the rulers of early modern Europe, required for the silver bullion that fuelled warfare and numerous other uses. Through seven lively case studies, he illustrates how geometry was used in metallic mines by practitioners using esoteric manuscripts. He describes how an original culture of accuracy and measurement paved the way for technical and scientific innovations, and fruitfully brought together the world of artisans, scholars and courts. Based on a variety of original manuscripts, maps and archive material, Morel recounts how knowledge was crafted and circulated among practitioners in the Holy Roman Empire and beyond. Specific chapters deal with the material culture of surveying, map-making, expertise and the political uses of quantification. By carefully reconstructing the religious, economic and cultural context of mining cities, Underground Mathematics contextualizes the rise of numbered information, practical mathematics and quantification in the early modern period. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

Interview with Rupert Verco, Managing Director & CEO, Cobra ResourcesOur previous interview: https://www.cruxinvestor.com/posts/cobra-resources-lsecobr-high-grade-copper-gold-acquisition-ree-isr-7824Recording date: 19th November 2025Cobra Resources is positioning itself as a potential disruptor in the global rare earths market through its innovative Boland project in South Australia. The London-listed company is developing an in-situ recovery (ISR) operation targeting high-value heavy rare earths including dysprosium and terbium - critical components in permanent magnets for electric vehicles, renewable energy, and defense applications.What distinguishes Boland from conventional rare earth projects is its unique geological setting. Unlike traditional clay-hosted deposits, the project features permeable paleochannel geology similar to uranium ISR operations, which Managing Director Rupert Verco says "bypasses a lot of the operational challenges of traditional clays." The mineralization sits within naturally confined sand horizons, protected by 20 meters of impermeable clay above and below.Recent field hydrology studies have validated commercial viability, achieving pump rates of nearly 20,000 liters per day with 60% tracer recovery in just four days. These results support well spacing of 20-30 meters - comparable to uranium operations - and demonstrate the uniform aquifer response essential for efficient ISR extraction.The project's most significant breakthrough involves natural acid generation from sulfide-rich organics within the ore body. When oxidized, these materials produce sulfuric acid in-situ, potentially eliminating the largest operating cost and reducing dependence on Chinese supply chains. Current testing indicates acid consumption under 4 kilograms per ton—dramatically lower than typical rare earth operations.Metallurgically, Cobra has achieved 90% cerium suppression without heavy rare earth loss, producing concentrate containing 35% magnet rare earths and 50% heavy rare earths. This compares favorably to traditional carbonatite deposits that typically contain over 50% low-value cerium.With 3,300+ square kilometers of controlled tenure, resource drilling planned for early 2026, and a modular development approach targeting 4,000-5,000 tons annual production, Cobra is advancing toward what Verco describes as cost competitiveness comparable to "how Kazatomprom established themselves in the uranium game"—potentially offering Western supply chains a commercially viable alternative to Chinese rare earth dominance.Learn more: https://www.cruxinvestor.com/companies/cobra-resourcesSign up for Crux Investor: https://cruxinvestor.com

Interview with Philip Williams, Director & CEO of IsoEnergy Ltd.Our previous interview: https://www.cruxinvestor.com/posts/isoenergy-tsxiso-inside-isoenergys-strategic-play-on-uraniums-supply-demand-revolutiont-7872Recording date: 19th November 2025IsoEnergy is building an institutional-scale uranium platform spanning Canada, the United States, and Australia through strategic acquisitions and targeted exploration spending. CEO Philip Williams recently announced the acquisition of Toro Energy, which adds the 75-million-pound Wiluna project in Western Australia to what the company calls its "Core Four" assets. This portfolio includes Canada's Hurricane deposit, described as the world's highest-grade uranium resource, along with near-term production capabilities at past-producing Utah mines and the 160-million-pound Coles Hill resource in Virginia, the largest uranium deposit in the United States.The company is prioritizing exploration capital in Canada's Athabasca Basin, where its PurePoint joint venture recently made the Dorado discovery, validating the consolidation strategy. Additional programs target the LaRocque East project and US properties in Utah's Henry Mountains district, where IsoEnergy sees accessible near-term discovery potential from historically productive areas that haven't been systematically explored in decades.Williams emphasized the company's positioning to benefit from US government initiatives to rebuild domestic uranium supply chains, including the Strategic Uranium Reserve. With uranium demand fundamentally outstripping supply through 2040 and governments deploying multiple support mechanisms, from direct purchases to project investments and accelerated permitting, IsoEnergy's diversified portfolio provides multiple value realization pathways across different development timelines and jurisdictions.The diversification strategy deliberately mirrors industry leader Cameco, reducing single-asset risk while maintaining the technical teams and financial strength to advance projects simultaneously. Management maintains flexible capital allocation responsive to jurisdictional developments and market conditions, with plans for significant project milestones across all Core Four assets in 2026.—Learn more: https://cruxinvestor.com/companies/isoenergySign up for Crux Investor: https://cruxinvestor.com

Interview with Stephen Hanson, President & CEO of Surface Metals Inc.Our previous interview: https://www.cruxinvestor.com/posts/surface-metals-csesur-former-lithium-player-pivots-to-nevada-gold-with-walker-lane-project-7467Recording date: 21st November 2025Surface Metals Inc. (CSE: SUR) has strategically positioned itself across two commodity cycles through its April 2025 acquisition of the Cimarron gold project in Nevada whilst maintaining a diversified lithium portfolio anchored by a 300,000+ ton LCE resource at Clayton Valley, California. This dual-commodity approach provides investors with exposure to gold's current bull market and lithium's structural electrification demand.Following recent meetings on Wall Street and Bay Street, President and CEO Steve Hanson reports renewed institutional appetite for junior and mid-cap mining opportunities. Major banks including JP Morgan, Goldman Sachs, UBS, Deutsche Bank, and HSBC forecast gold reaching $5,000 per ounce in 2026, driven by central bank accumulation, interest rate dynamics, and geopolitical tensions. Simultaneously, lithium markets show stabilisation following the 2023-2024 correction, with institutional interest returning to quality projects.The Cimarron gold project, located in Nevada's prolific Walker Lane trend approximately 35 kilometres south of Kinross's Round Mountain mine, benefits from extensive historical work conducted by Newmont and Echo Bay during the 1980s-1990s. Surface Metals has digitised this historical database and created three-dimensional geological models, positioning the company to commence phase one drilling in early 2026 with clear targeting rationale. The programme aims to confirm historical high-grade intercepts, validate a non-43-101 compliant resource, and expand towards a million-ounce target. Shallow oxide mineralisation suggests potential heap leach processing economics - a lower-cost development pathway relevant for junior companies.Surface Metals' lithium portfolio demonstrates geographic and geological diversification across three projects. The Clayton Valley brine project sits immediately northwest of Albemarle's Silver Peak operation - North America's only producing lithium brine facility operational since 1966. The company targets a preliminary economic assessment in 2026, evaluating direct lithium extraction technology offering faster processing and higher recovery versus traditional evaporation ponds. Neighbouring operator SLB's 2025 demonstration facility successfully produced lithium from similar brine chemistry, de-risking technology application.Fish Lake Valley represents exposure to sedimentary claystone lithium mineralisation, sitting contiguous to Ioneer's Rhyolite Ridge project backed by Ford, Toyota, and Panasonic offtakes with 2026 construction commencement planned. Surface Metals actively seeks joint venture partners to fund initial drilling. In Manitoba, NASDAQ-listed Snow Lake Resources earns into the company's pegmatite project through funded exploration whilst Surface Metals maintains carried interest without capital outlay.Capital efficiency distinguishes Surface Metals' approach. The company has reduced operational costs whilst advancing projects through partnership structures and targeted technical work avoiding dilutive capital raises during unfavourable market conditions. Sector consolidation reduced lithium-focused companies from 200-250 to approximately 60, with Surface Metals amongst survivors maintaining intact portfolio positioning to capture recovery momentum.Management contemplates multiple value realisation pathways including asset sales, joint ventures, or corporate restructuring to separate gold and lithium portfolios. In market conditions where commodities experience distinct cycles, portfolio separation could unlock valuation disparities whilst providing shareholders direct exposure to preferred commodity themes.All projects benefit from tier-one North American jurisdictions with established infrastructure, proximity to operating mines, and relatively streamlined permitting. Nevada exploration permits typically achieved in 90-120 days. As gold supply deficits emerge from major producers exhausting high-grade reserves, and lithium supply security achieves strategic priority, Surface Metals' portfolio positioning addresses structural market dynamics favouring quality junior mining opportunities in premier jurisdictions.View Surface Metals' company profile: https://www.cruxinvestor.com/companies/acme-lithiumSign up for Crux Investor: https://cruxinvestor.com

Recorded November 19, 2025, from the Benchmark Conference in Los Angeles.In this critical episode of The Compass, Sam Pelaez (President, CEO & CIO of Olive Resource Capital) and Derek Macpherson (Executive Chairman of Olive) dissect a fundamental shift occurring in mining project finance as traditional debt-equity structures replace the exotic capital arrangements that dominated recent years.KEY TOPICS COVERED:Troilus Gold's Financing BreakthroughThe expanded debt facility announcement signals developers can now credibly finance construction independently rather than depending entirely on takeovers. At $4,100 gold, project profitability has driven down the cost of capital materially, enabling traditional banking structures instead of 20%+ private equity arrangements."The Generalists Are Coming"Nine-figure equity financings now occur weekly, with non-resource institutions like Fidelity regularly participating. This marks a dramatic expansion of available capital pools beyond traditional mining investors and validates the sector's investment thesis to Wall Street.Year-End Market DynamicsNo tax loss selling pressure this year as most mining equities are substantially higher than purchase points. However, seasonal liquidity constraints from holiday spending may create temporary dislocations and attractive entry points ahead of typically strong Q1 performance.Flow-Through Financing RushCanadian flow-through funds must deploy 2025 capital before December 31st, creating a year-end rush of placements working down the capitalisation spectrum from larger companies to progressively smaller explorers.Building as Negotiating LeverageDevelopers who can credibly "threaten to build" maintain stronger negotiating positions with potential acquirers. Clean capital structures without permanent streaming impairments make projects more valuable takeover targets post-construction.Why This Matters:Traditional banking institutions have long been willing to finance mining projects but were constrained by developers' inability to assemble the equity component without destroying capital structures. With both debt and equity now accessible at reasonable rates, a select group of well-positioned developers may advance independently, populating the mid-tier producer pipeline essential for an industry facing depletion of existing assets.ABOUT OLIVE RESOURCE CAPITAL:Olive Resource Capital is a specialist mining investment fund focused on precious metals, base metals, and battery metals across the development and production spectrum.

Interview with Oliver Turner, Vice President of Corporate Development, Americas Gold & Silver Our previous interview: https://www.cruxinvestor.com/posts/americas-gold-silver-tsxusa-triples-ore-production-targets-5moz-annually-8137Recording date: 18 November 2025Americas Gold & Silver is rapidly executing a growth and consolidation strategy in Idaho's historic Silver Valley, highlighted by its recent $65 million acquisition of the Crescent Mine and an oversubscribed $150 million capital raise. The company's strategic moves have attracted significant institutional interest, with ownership increasing from just 7% to over 63% as top-tier global mining institutions recognize the value proposition.The Crescent Mine acquisition represents a calculated move to utilize spare milling capacity at the flagship Galena complex. Located just 9 miles from Galena, Crescent historically produced over 25 million ounces of silver at grades averaging 900 grams per ton and can be restarted within six months. The mine's ore is metallurgically identical to Galena's tetrahedrite, enabling seamless integration into existing processing facilities. With Crescent's average grade of 655 grams per ton silver exceeding Galena's blended average of 466 grams per ton, the acquisition provides immediate high-grade feed while Galena ramps underground production.Management aims to restore Galena to historical production levels of 5+ million ounces annually potentially within 36 months, up from current levels. The operation currently utilizes only one of four available shafts and has ramped throughput from 300 tons per day to over 410 tons per day, yet still maintains spare mill capacity of 750-1,050 tons per day. Key catalysts include the paste backfill plant commissioning in Q3 2026 and formal production guidance expected in February-March.Beyond silver, Americas Gold & Silver has emerged as the largest active antimony producer in the United States, producing 450,000 pounds year-to-date. Management is pursuing development of a domestic antimony processing circuit with potential government support, addressing critical mineral security while potentially adding significant margin expansion at minimal incremental cost. Trading at 0.7-0.8x NAV versus peer average near 2x NAV, the company offers compelling value as it transforms into a major silver producer with exceptional byproduct credit potential.Learn more: https://www.cruxinvestor.com/companies/americas-gold-silver-corporationSign up for Crux Investor: https://cruxinvestor.com

Interview with Thomas Lamb, CEO, Myriad UraniumOur previous interview: https://www.cruxinvestor.com/posts/myriad-uranium-csem-200-million-pound-potential-as-rush-merger-delivers-100-project-control-7894Recording date: 19th November 2025Myriad Uranium Corp. is unlocking significant value at its Copper Mountain uranium project in Wyoming through modern analytical techniques that reveal substantially higher uranium grades than historic exploration indicated. CEO Thomas Lamb recently outlined how the company's systematic chemical assaying program has discovered radiometric disequilibrium that shows 50-60% more uranium than conventional gamma probe readings detected during Union Pacific Railway's $85 million exploration campaign in the 1970s.The company recently completed a bought deal financing that raised C$8.6 million, exceeding its C$6 million target, led by Research Capital and Red Cloud Securities. This brings Myriad's cash position to approximately C$10 million, providing capital to expand land holdings, convert historic resources to NI 43-101 compliance, and aggressively drill high-priority targets that remained untested during previous exploration.Central to Myriad's investment thesis is a 1982 U.S. Department of Energy Bendix report identifying a 655 million pound uranium endowment across the broader Copper Mountain area, with 245 million pounds in a core zone where Myriad controls 70% of the acreage. Critically, these estimates only extend to 600 feet depth, while Myriad's recent drilling has encountered uranium mineralization as deep as 1,495 feet with assays exceeding 800 ppm.The chemical assay breakthrough transforms project economics by revealing that much of what Union Pacific classified as waste rock actually contains economic uranium grades. Myriad submitted nearly 800 samples from zones where probes detected little or no uranium, with results showing significant uranium content that expands grade shells while increasing contained metal.Myriad is also pursuing a merger with Rush Rare Metals Corp. to achieve 100% ownership of Copper Mountain, currently owned 50-50, and advancing plans for a U.S. exchange listing to unlock institutional investment. The company has permitted 222 new drill holes and bonded 70 of them, targeting underexplored areas where favorable geological structures suggest multiple additional deposits comparable to Copper Mountain's largest known resource.Learn more: https://www.cruxinvestor.com/companies/myriad-uraniumSign up for Crux Investor: https://cruxinvestor.com

Feliks Banel's guest on this BONUS EPISODE of CASCADE OF HISTORY is Bill Willingham, whose book, "Oregon Gold: A History of Mining from the Civil War into the Progressive Era" was just published by OSU Press in Corvallis, Oregon. The history of gold mining in Oregon is not widely known and appreciated. Bill Willingham grew up in Eastern Oregon, and says his new book was about 70 years in the making. I spoke with Bill Willingham by phone on Thursday, November 20, 2025. For more information about "Oregon Gold: A History of Mining from the Civil War into the Progressive Era" from OSU Press: https://osupress.oregonstate.edu/book/oregon-gold More info about Sumpter Valley Dredge State Heritage Area: https://stateparks.oregon.gov/index.cfm?do=park.profile&parkId=174 More info about Kam Wah Chung State Heritage Area: https://stateparks.oregon.gov/index.cfm?do=park.profile&parkId=5 CASCADE OF HISTORY Facebook page for more info about upcoming events with Bill Willingham on December 7, 2025; January 10, 2026 and February 8, 2026: https://www.facebook.com/groups/cascadeofhistory CASCADE OF HISTORY is broadcast LIVE most Sunday nights at 8pm Pacific Time via SPACE 101.1 FM in Seattle and gallantly streams everywhere via www.space101fm.org. The radio station broadcasts from studios at historic Magnuson Park – located in the former Master-at-Arms' quarters in the old Sand Point Naval Air Station - on the shores of Lake Washington in Seattle. Subscribe to the CASCADE OF HISTORY podcast via most podcast platforms and never miss regular weekly episodes of Sunday night broadcasts as well as frequent bonus episodes.

Thomas Morel joins Jana Byars to tell the story of subterranean geometry, a forgotten discipline that developed in the silver mines of early modern Europe, talking about his book Underground Mathematics: Craft Culture and Knowledge Production in Early Modern Europe (Cambridge UP, 2022). Mining and metallurgy were of great significance to the rulers of early modern Europe, required for the silver bullion that fuelled warfare and numerous other uses. Through seven lively case studies, he illustrates how geometry was used in metallic mines by practitioners using esoteric manuscripts. He describes how an original culture of accuracy and measurement paved the way for technical and scientific innovations, and fruitfully brought together the world of artisans, scholars and courts. Based on a variety of original manuscripts, maps and archive material, Morel recounts how knowledge was crafted and circulated among practitioners in the Holy Roman Empire and beyond. Specific chapters deal with the material culture of surveying, map-making, expertise and the political uses of quantification. By carefully reconstructing the religious, economic and cultural context of mining cities, Underground Mathematics contextualizes the rise of numbered information, practical mathematics and quantification in the early modern period. Learn more about your ad choices. Visit megaphone.fm/adchoices

Thomas Morel joins Jana Byars to tell the story of subterranean geometry, a forgotten discipline that developed in the silver mines of early modern Europe, talking about his book Underground Mathematics: Craft Culture and Knowledge Production in Early Modern Europe (Cambridge UP, 2022). Mining and metallurgy were of great significance to the rulers of early modern Europe, required for the silver bullion that fuelled warfare and numerous other uses. Through seven lively case studies, he illustrates how geometry was used in metallic mines by practitioners using esoteric manuscripts. He describes how an original culture of accuracy and measurement paved the way for technical and scientific innovations, and fruitfully brought together the world of artisans, scholars and courts. Based on a variety of original manuscripts, maps and archive material, Morel recounts how knowledge was crafted and circulated among practitioners in the Holy Roman Empire and beyond. Specific chapters deal with the material culture of surveying, map-making, expertise and the political uses of quantification. By carefully reconstructing the religious, economic and cultural context of mining cities, Underground Mathematics contextualizes the rise of numbered information, practical mathematics and quantification in the early modern period. Learn more about your ad choices. Visit megaphone.fm/adchoices

Dan Barnholden, CEO of Luca Mining (TSX.V:LUCA – OTCQX:LUCMF – FSE:TSGA), joins us to review their Q3 operations and key financial metrics, further debt repayment, ongoing metallurgical studies and development work, expanded exploration programs.  He provides insights on key upcoming growth initiatives through improving grades and better precious metals recoveries across both of Luca's producing assets – the Campo Morado and Tahuehueto mines, located in the prolific Sierra Madre mineralized belt in Mexico.    Third Quarter 2025 Highlights   Safety: continued emphasis on safe, disciplined operations with strengthened housekeeping and visible leadership engagement across both sites. Throughput increased: consolidated tonnes milled of 250,807 (+66% vs. prior year), supported by increased plant availability at both mines which has resulted in higher metal output: Gold increased 51%, Silver increased 97%, Zinc increased 78%, Lead increased 81%, Copper increased 43% over Q3 2024. Profitability indicators: Adjusted EBITDA of $4.3 million for the quarter and positive year-to-date adjusted net earnings of $12.8 million, a reflection of greater operational performance. Revenue momentum: Revenues of $35.0 million (+94% vs. prior year), supported by higher sales volumes and increased realized precious-metal prices (gold +28%, silver +18%). Campo Morado performance: production in Q3 improved year-over-year (+75% ZnEq pounds) on higher grades, notably zinc (+30%) and silver (+27%) and increased volumes (+43% tonnes milled per day). Cash costs decreased to $1.09 per payable ZnEq pound (-14% vs. prior year) with AISC of $1.43/lb slightly increased (+8%) from the same quarter in the prior period, reflecting increased sustaining capital development and the commencement of a significant exploration program at the mine (all of the Company's exploration expenditures are included in AISC). Tahuehueto ramp-up: 77,548 tonnes milled, setting a record of 969 tonnes milled per day in the quarter (+187% vs. prior year), with AuEq production up 74% year-over-year. As a result of increased volumes, direct cost per tonne reduced to $149 (-22%). Lower grades in the quarter, as well as increased capital development and exploration, resulted in an increase in AISC (+35%) year-over-year. Increased grades and the benefit of this capital development are expected to decrease AISC at Tahuehueto in the subsequent periods. Investment for reliability: sustaining capital investment of $8.7 million in the quarter ($19.0 million YTD) to accelerate underground development and exploration drilling, positioning both mines for improved grades and operating flexibility. The Company made significant progress in exploration, with multiple high-grade intercepts at both operations. Repaid $2.5 million in debt. Operations going forward:  Both Tahuehueto and Campo Morado are expected to enter higher-grade areas which, combined with the strong milling rates observed at both mines, is expected to drive increased production, improved recoveries, and lower unit costs through year-end.   Dan goes on to highlight both the expanded CAD$25Million exploration program, with both underground drilling and surface drilling going on at Campo Morado and Tahuehueto, in the first meaningful drill campaign in over a decade. In addition to targeting new high-grade gold and silver areas, like the Reforma zone, there is also a concerted effort to expand mineralization and extend the mine life for both projects. The company is also engaged in ongoing metallurgical testing to improve recovery rates for their 5 metals, and 3 concentrates.     If you have any question for Dan regarding Luca Mining, then please email those into us at Fleck@kereport.com  or Shad@kereport.com.   In full disclosure Shad is a shareholder of Luca Mining at the time of this recording and may choose to buy or sell shares at any time.   Click here to follow the latest news from Luca Mining   For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/   Shad's resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Thomas Morel joins Jana Byars to tell the story of subterranean geometry, a forgotten discipline that developed in the silver mines of early modern Europe, talking about his book Underground Mathematics: Craft Culture and Knowledge Production in Early Modern Europe (Cambridge UP, 2022). Mining and metallurgy were of great significance to the rulers of early modern Europe, required for the silver bullion that fuelled warfare and numerous other uses. Through seven lively case studies, he illustrates how geometry was used in metallic mines by practitioners using esoteric manuscripts. He describes how an original culture of accuracy and measurement paved the way for technical and scientific innovations, and fruitfully brought together the world of artisans, scholars and courts. Based on a variety of original manuscripts, maps and archive material, Morel recounts how knowledge was crafted and circulated among practitioners in the Holy Roman Empire and beyond. Specific chapters deal with the material culture of surveying, map-making, expertise and the political uses of quantification. By carefully reconstructing the religious, economic and cultural context of mining cities, Underground Mathematics contextualizes the rise of numbered information, practical mathematics and quantification in the early modern period.

Brace yourself: gold and silver are gearing up for a major bull market. Don Durrett, Gold and Silver Mining Stock Analyst at goldstockdata.com, breaks down the key signals every investor needs to watch. He explains how silver's upside accelerates as gold rises, outlines possible price scenarios ahead, and examines the structural pressure points forming in the precious metals market. Don also discusses why he believes the U.S. is trapped in a “doom loop” of rising debt, deficits, and money printing.He also dives into the macro picture: how the Ukraine war accelerated a global shift away from Western financial dominance, why mining stocks behave differently from traditional equities, and why only a handful of silver ETFs exist worldwide.Watch the full interview to learn how to navigate the financial stress building ahead and position yourself before the next big move.Check out: https://www.goldstockdata.comWatch the full YouTube interview here: https://youtu.be/rdhjCrKGvdkAnd follow us to stay updated: https://www.youtube.com/@GlobalOneMedia

Subscribe to the Blockspace newsletter for market-making news as it hits the wire! Welcome back to The Mining Pod! Today, Haris Basit, CSO at Bitdeer, joins us to break down their Q3 results, where revenue hit $169.7M (up 173% YoY), self-mining production doubled to 1,109 BTC, and they achieved 41.2 EH/s of self-mining capacity. We dive deep into Bitdeer's AI and HPC expansion strategy across sites in Norway, Tennessee, Washington, and Ohio, discuss the SEALMINER A3's production schedule and A4 chip development delays, and get updates on the Massillon facility fire recovery. Subscribe to the newsletter! https://newsletter.blockspacemedia.com **Notes:** • Revenue up 173% YoY to $169.7M • Self-mining doubled: 565 to 1,109 BTC • Hash rate reached 41.2 exahash in October • Adjusted EBITDA: $43M vs -$7.9M last year • SEALMINER delays • AI expansion: planned across 4 sites Timestamps: 00:00 Start 03:32 Overview of report 05:43 Colocation vs self mining vs neoloud 09:30 Why do both colocation & neocloud? 10:42 Facility fire 12:13 Bhutan 15:01 Convertible notes 16:43 Future financing options 18:54 Cloud mining profitability 19:57 Choosing where to locate services 22:11 Alberta 24:03 Ethiopia 25:20 ASIC production 28:35 A4 delays 31:39 What's coming?

After seven months of following the teachings, Muhammad found peace of mind, but no change in his sleep. In this episode of Mining the Comments, Coach Daniel explores a powerful blind spot that keeps many from full recovery. You'll discover why understanding everything intellectually isn't enough, and how letting go of the goal of “sleeping more” can finally unlock effortless rest. If you've studied insomnia recovery deeply but still aren't sleeping better, this episode is for you.

US Gold Corp (NASDAQ: USAU) represents an increasingly rare investment opportunity in the North American mining sector - a fully permitted, shovel-ready gold-copper development project approaching a critical inflection point. The company's CK Project in Wyoming is completing its Definitive Feasibility Study by mid-December 2025, with public release planned for January 2026, positioning investors ahead of formal project financing negotiations and potential strategic interest from consolidating producers.The project's fundamental advantages centre on infrastructure and operational simplicity. Located 20 miles from Cheyenne, Wyoming, the CK Project benefits from established power and water infrastructure, rail connectivity within three miles, and access to a skilled industrial workforce without requiring worker accommodation. Chairman Luke Norman emphasized this distinction: "If we were trying to build this up in the snow belts in Alaska or something, it would be an entirely different undertaking." These infrastructure advantages translate directly into reduced capital intensity and lower operating costs compared to remote mining developments.The operational approach further differentiates the project from conventional precious metals mining. Norman characterized it as "a glorified quarry just with a little more infrastructure to extract the minerals," utilizing straightforward crushing and flotation processes with no on-site smelting required. The geology enhances this simplicity, with mineralization exposed at surface and "the richest stuff at surface," eliminating extensive pre-stripping requirements and accelerating the timeline to cash flow generation.Project economics demonstrated sub-year payback potential in previous studies, an exceptional metric that speaks to rapid capital recovery. Whilst Norman acknowledged the forthcoming DFS will reflect increased capital costs for enhanced environmental measures, he maintained that "the margins on the project have just increased dramatically" due to gold and copper price appreciation. This economic robustness has attracted considerable financing interest, with Norman confirming "so many term sheet come across our desk in the last 12 months."The resource base comprises a 1.7 million ounce gold reserve supporting projected annual production exceeding 100,000 ounces over a minimum 10-year mine life. Importantly, management identifies potential for "another million ounces plus potential for harvesting within the pit," providing resource growth opportunity without requiring additional permitting or fundamental changes to the mining plan.The strategic context enhances the investment thesis. Norman characterized the project financing environment as "a lot of capital chasing very few projects that are permitted and ready to go," reflecting the scarcity of development-ready projects in North America. This dynamic creates both favourable financing terms and potential M&A premium, with Norman acknowledging the DFS completion "might even trigger some interest from an M&A perspective." Management's stated focus on equity value creation - "whatever is best for the stock" - aligns with shareholder interests across multiple potential value realisation pathways.For investors seeking exposure to North American gold and copper production development without the regulatory uncertainties that plague most junior mining investments, US Gold Corp offers a differentiated opportunity. The convergence of complete permitting, exceptional infrastructure advantages, robust project economics, secured financing interest, and imminent DFS completion positions the company for significant value creation as it enters what management anticipates will be "a really fast and furious 2026."

In the debut episode of 'What Next' - Marc Kahn and Lindsay Hooper bring in Faustine Delasalle, CEO of the Mission Possible Partnership and Katie Fergusson, SVP, Studies and Development at Anglo-American to discuss some surprising advancements being made by heavy industry, like steel manufacturing. While technologies for low-carbon, resource efficient steel, cement, heavy transport and mining are advancing rapidly, deployment still lags behind what's required. 00:00 Introduction 01:50 Clean Growth & Industrial Revolution 03:23 Guests background in sustainability 04:40 Are We Moving Fast Enough? 06:36 Technology, Policy, and Market Forces 08:00 Scenarios for Industrial Acceleration 09:03 Mining's Role in the Transition 10:01 Innovation in Mining- examples of new technologies 13:14 Scaling Innovation: Lessons Learned 19:46 More mining less extraction 21: 06 Value Chains, Policy, and Market Signals 24:52 Partnerships and Vertical Integration 27:07 Social Impact and Just Transition 31:57 Policy Shifts for Decarbonization 34:06 Leadership Insights 37:11 Closing Reflections Investec Focus Radio SA

In today's episode, we're joined by one of the industry's most respected leaders, Mark Cutifani, former CEO of Anglo American and Chair of the ICMM. We discuss the long-term supply outlook for mining, the risks, opportunities and disruptions shaping the next decade. From critical minerals and geopolitical shifts to innovation and resilience, Mark shares his perspective on what's coming and how the industry can prepare. Mark is also going to be attending the upcoming Resourcing Tomorrow event - the premier gathering for the world's mining leaders taking place in London from 2-4 December. What sets this event apart is its unmatched audience: C-level executives from the biggest mining companies worldwide, over 40 government ministers, leading mining technology providers, and many more mining professionals in the industry. Dig Deep The Mining Podcast is proud to partner with Resourcing Tomorrow. To register, go to https://hubs.ly/Q03JvH2K0 and use DIGDEEP10 for 10% off your pass. KEY TAKEAWAYS No single country dominates global mineral supply, meaning the world needs to trade across geopolitical blocks to function effectively. The core challenge to supply is not a lack of resources, but the 20+ year timeframe required to get projects approved and materials to market. Companies that can inherently flex their production volume based on market demand and commodity price cycles significantly outperform their peers. Long-term success is built on pre-planning and quick capital return (3-5 years), excellent technical execution, and securing the right people and talent at every phase. BEST MOMENTS "No one country dominates global minerals and metals supply. And for the world to function, and for individual countries to function effectively, we're going to need to trade." "The bigger risk is one of permitting... a problem with supply not because of exploration, but because of the processes to get those materials to market." "Your ability to average a price 10 to 15 to 20% above the average price through the cycle, puts you in my experience the top quartile performers in the industry." VALUABLE RESOURCES Mail:        ⁠rob@mining-international.org⁠ LinkedIn: ⁠https://www.linkedin.com/in/rob-tyson-3a26a68/⁠ X:              ⁠https://twitter.com/MiningRobTyson⁠  YouTube: ⁠https://www.youtube.com/c/DigDeepTheMiningPodcast⁠  Web:        ⁠http://www.mining-international.org⁠ CONTACT METHOD ⁠rob@mining-international.org⁠ ⁠https://www.linkedin.com/in/rob-tyson-3a26a68/⁠ Podcast Description Rob Tyson is an established recruiter in the mining and quarrying sector and decided to produce the “Dig Deep” The Mining Podcast to provide valuable and informative content around the mining industry. He has a passion and desire to promote the industry and the podcast aims to offer the mining community an insight into people's experiences and careers covering any mining discipline, giving the listeners helpful advice and guidance on industry topics.  This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/

In the Usap Tayo episode, we talked about the latest Australian Bureau of Statistics income data, which reveals the sectors, regions, and age groups where Australians earn the most and least, highlighting major income gaps across the country. - Sa Usap Tayo episode, tinalakay natin ang pinakahuling datos ng Australian Bureau of Statistics tungkol sa kita ng mga Australyano sa iba't ibang industriya, rehiyon at age group, na nagpapakita ng malalaking agwat sa sahod sa buong bansa.

What opportunities and challenges does mining in Greenland present, and how can the interests of local communities, industry, and the environment be balanced?Joining the conversation are:Sara Olsvig, International Chair, Inuit Circumpolar Council (ICC); Head of Delegation to the Arctic CouncilNaja Dyrendom Graugaard, Assistant Professor, University of Copenhagen, DenmarkNauja Bianco, Member of the Board of Directors, Greenland Resources Inc., Canada; Director, Isuma Consulting, GreenlandNick Bæk Heilmann, Senior Associate, Kaya PartnersEdward Westropp, Head of Business Development and Corporate Affairs, Amaroq MineralsModerating is Damien Degeorges, Director of Degeorges Consulting.This Session was recorded live at the Arctic Circle Business Forum, held October 16th to 17th, during the 2025 Arctic Circle Assembly, in Reykjavík, Iceland.Arctic Circle is the largest network of international dialogue and cooperation on the future of the Arctic. It is an open democratic platform with participation from governments, organizations, corporations, universities, think tanks, environmental associations, Indigenous communities, concerned citizens, and others interested in the development of the Arctic and its consequences for the future of the globe. It is a nonprofit and nonpartisan organization. Learn more about Arctic Circle at www.ArcticCircle.org or contact us at secretariat@arcticcircle.orgTWITTER:@_Arctic_CircleFACEBOOK:The Arctic CircleINSTAGRAM:arctic_circle_org

Global powers are scrambling for critical minerals, and their first stop is South Africa. Mining expert Peter Major tells Alec Hogg why SA could become the world's one-stop minerals shop - if government learns to play its cards right, cut the red tape, and “sell to anyone at the best price possible.”

Join Mining Minds as we look back on years of conversations, growth, and lessons learned from the people who power the mining industry. This special anniversary episode dives deep into the heart of who we are — the stories that shaped us, the communities that supported us, and our evolution from a simple idea to a respected industry voice. From traveling the country, launching new video platforms, and building workforce development content, to sharing emotional guest stories, advocating for mental health, and expanding our network of miners, leaders, innovators, and veterans — this episode highlights our past, our present, and the exciting future ahead. You'll hear our behind-the-scenes reflections, favorite guest moments, and updates on new initiatives, including The Safe Word safety segment of the podcast, upcoming industry panel discussions, children's mining education projects, and our Military to Mining program. We also share how we plan to continue amplifying the industry in 2026 and beyond.   Thank you to everyone who has supported—and continues to support—our mission to be "The Voice Inside The Industry." Here's to the next 200!   Episode Mentions: Clorinda and Sean Cosper, Rodrigo Barbosa, Michael Hartley, Ida Rukavina, Kristen Vake, Matt Lucas, Julie Lucas, Talia Sandys, Alexia Carver, Liz Diaz, Don Dwyer, Nikita Grover, Linda Honey, Victor Ortiz, Trampus Cook, Jessica Scanlan, Jennie Davis, Jerry Rynearson, Joel Lerner, Nate Goerke, Conway Fraser, Vern Goglio, Alan Franklin, Holly Gallian, Sean Gallian, John Metzger, Richard Mallen, Sam Faga, Jason James, Josh Sumption, Torqn, Michael Zolotov, Leetha Reeves, Chuy Herrera, Hector Denogean, Jess Kindler, Kimberlee Longley, Amanda Hilton, Cory Rockwell, James Hoover, Ben Powell, Brent Adams, Matt Hillard   Episode Sponsors: JSR Fleet Performance Motor Mission Machine and Radiator  Liebherr Mining   Episode Chapters:  00:00 Kicking Off Episode 200 01:01 Looking Back on the Journey 03:08 Growth, Travel & Industry Support 05:03 Authentic Voices of Mining 07:12 Mental Health, Vulnerability & Real Stories 09:51 Lessons From 200 Conversations 13:22 Workplace Culture & Standout Guests 16:11 Ideas, Innovation & Industry Collaboration 20:47 Mining Solutions & Global Insights 23:36 Most Impactful Episodes & Emotional Moments 30:31 The Future: Presentations, Video, Events & New Segments 40:55 Military To Mining, Projects & What's Ahead

Interview with Gwen Preston, VP Communications, West Red Lake Gold MinesOur previous interview: https://www.cruxinvestor.com/posts/west-red-lake-gold-mines-tsxvwrlg-all-known-questions-answered-7761Recording date: 18th November 2025West Red Lake Gold Mines is restarting the Madsen Mine in Ontario's prolific Red Lake district, positioning itself as a rare new gold producer emerging at the beginning of a bull market rather than after years of depressed prices . The company targets commercial production in early 2026 with expected annual output of 50,000 ounces, growing to 100,000 ounces by 2028 through site optimization and development of the high-grade Rowan deposit .The third quarter of 2025 demonstrated significant operational momentum, with production exceeding 7,000 ounces generating $33 million in revenue . October data showed a 24% increase in daily mine tons compared to September, driven by completion of underground waste rock storage solutions that eliminated the need to truck waste material to surface, freeing equipment for ore movement . The company has achieved cash-flow positive status during ramp-up while maintaining over $45 million in treasury, providing substantial financial flexibility heading into commercial production .West Red Lake's dual-asset production growth plan aims to reach 100,000 annual ounces without requiring external financing . The first phase involves optimizing Madsen production to 60-65,000 ounces by 2027 as mining progresses to deeper, less-historically-worked zones with higher grades . The Rowan project, located 80 kilometers by road from Madsen, will contribute an additional 35,000 ounces annually starting in 2028 from a remarkably high-grade deposit averaging nearly 13 grams per ton . Critically, Rowan requires no mill construction, with ore trucked to the existing Madsen facility, simplifying permitting to an advanced exploration permit rather than full mining authorization.The company expects to finance Rowan's $70 million capital cost entirely from operational cash flow, spread over multiple quarters beginning mid-2026 . Management has explicitly stated no further equity financing is expected for Madsen, contrasting sharply with typical junior producers who exhaust capital during construction and face dilutive financings just as production begins . This financial discipline resulted from acquiring the asset at favorable terms and executing a methodical restart plan that prioritized reaching cash flow over aggressive production targets .Learn more: https://www.cruxinvestor.com/companies/west-red-lake-gold-mines-incSign up for Crux Investor: https://cruxinvestor.com

Interview with Nic Earner, Managing Director of Alkane Resources Ltd.Our previous interview: https://www.cruxinvestor.com/posts/alkane-resources-asxalk-post-merger-gold-producer-targets-180k-aueq-ounces-7916Recording date: 17th November 2025Alkane Resources has successfully completed its transformational merger with Mandalay Resources, establishing itself as a diversified mid-tier gold producer with three operating mines across Australia and Sweden. The integration, finalized in August 2025, has delivered on all key strategic objectives while positioning the company for its next phase of growth in a strengthening gold price environment.The merger has transformed Alkane's market profile substantially. Production guidance now stands at 160,000-175,000 ounces annually, with management targeting a 180,000-ounce run rate by next year. Market capitalization has expanded from approximately A$900 million at the pro-forma merger date to around A$1.4 billion currently. Trading liquidity has improved dramatically, with daily ASX turnover reaching A$8 million and the company securing placement in the ASX 300 index while approaching ASX 200 status.Perhaps most significantly, Alkane maintains a pristine balance sheet with A$170 million in cash and bullion and zero debt beyond equipment financing. This financial strength, combined with the company's largely unhedged production profile, creates substantial cash generation capacity. Managing Director Nic Earner explained the mathematics: with 80% of production unhedged, "each 100 bucks you add to the gold price, it's 15 million bucks" in additional cash flow.Looking ahead, management has established a 12-month timeline for potential acquisitions while maintaining strict jurisdictional discipline, focusing exclusively on tier-one regions including Australia, New Zealand, USA, Canada, and Scandinavia. Simultaneously, operational priorities center on cost reduction at Sweden's Bjorkdal mine, where initiatives could reduce all-in sustaining costs by 20-25% from US$2,700 to approximately US$2,200 through production increases and grade optimization.The company's disciplined capital allocation framework, operational focus, and accelerating cash generation position Alkane as a compelling investment opportunity in the current gold market environment, with management emphasizing that superior cash accumulation should drive valuation re-rating versus comparable peers.View Alkane Resources' company profile: https://www.cruxinvestor.com/companies/alkane-resourcesSign up for Crux Investor: https://cruxinvestor.com

Interview with NexMetals Mining's CEO Morgan LekstromRecording date: 18 November 2025NexMetals Mining Corp has executed a comprehensive transformation that positions its two past-producing Botswana copper-nickel-cobalt assets as potential near-term development opportunities in a market characterised by acute supply constraints and major mining company acquisition activity.The company recently closed an US$80 million equity financing led by Texas-based institutional investor Condire Capital, which acquired a 9.9% stake, whilst existing major shareholder EdgePoint increased its position despite having no obligation to participate. The financing increased institutional ownership from 30% to 75% and eliminated US$21 million in legacy debt that had created a significant market overhang. With approximately US$90 million in cash, the company is fully funded for its 2026 work programme without near-term dilution requirements.Perhaps more significant than the financing itself is the metallurgical breakthrough that underpins the investment thesis. The original Selebi operation utilised a bulk concentrate smelter that subsequent owners dismantled. Rather than contemplate rebuilding infrastructure requiring over US$1 billion in capital, NexMetals' technical team developed concentrate-splitting technology that fundamentally alters project economics. Management now targets sub-US$500 million capital intensity per asset - a fraction of integrated smelter operations - whilst enabling cobalt recovery that previous operators could not economically achieve.The asset base comprises two distinct opportunities. Selebi represents an underground operation that produced continuously for over 30 years, with existing workings providing several years of access without additional development. The current resource stands at approximately 30 million tonnes grading 3.35% copper equivalent (roughly 1.75% copper and 1% nickel), with cobalt grades to be incorporated following metallurgical test work. Electromagnetic surveys have identified numerous additional conductive anomalies strongly associated with mineralisation, providing systematic drill targets for resource expansion.Selkirk presents a different profile as an open-pit deposit hosting over 200 million tonnes of mineralised horizon, though only 44 million tonnes currently feature in the resource estimate. The company completed a comprehensive 30,000-metre reassay programme of historical core and drilled 13 additional holes to support metallurgical test work, with a resource update expected in Q1 2026 and preliminary assessment-level economics targeted for Q2 2026.Management's strategy centres on demonstrating scale through 2026 exploration programmes before committing to development scenarios, targeting 15-20 year mine lives at optimal throughput rates. This approach positions the assets for either internal development or strategic transactions at substantially higher valuations than optimising smaller, near-term production scenarios. Selkirk, with its open-pit profile and platinum-palladium credits, may attract joint venture interest or acquisition proposals, potentially providing non-dilutive funding for Selebi North advancement.The board combines relevant experience across exploration, development, operations, and strategic transactions, including former BlackRock CIO Chris Leavy, former Gatos Silver CFO André van Niekerk (Gatos sold for US$1.2 billion), and Chairman Paul Martin (former CEO of Detour Gold). The team operates in Botswana's stable 59-year democracy with established mining infrastructure and government support for economic diversification away from diamonds.With preliminary assessments expected on both assets in 2026 and a compressed two-year strategic timeline, NexMetals has positioned itself as a potential acquisition target or development candidate in a copper-nickel market characterised by supply deficits and major company appetite for quality assets.

Interview with Thomas Mumford, President of Scottie Resources Corp.Our previous interview: https://www.cruxinvestor.com/posts/scottie-resources-tsxvscot-funded-to-advance-high-grade-2m-oz-gold-asset-in-bc-golden-triangle-5191Recording date: 17th November 2025Scottie Resources is positioning itself as a near-term gold producer through a direct ship ore (DSO) model that bypasses traditional milling infrastructure, targeting commercial production by mid-2028 at its flagship property 40 kilometers north of Stewart, BC. The company's strategic approach leverages existing deep water port facilities and high-grade mineralization outcropping at surface to accelerate project timelines while minimizing capital intensity in an environment of sustained elevated gold prices.The project's location adjacent to North America's northernmost ice-free deep water shipping port provides critical infrastructure advantages. Recently acquired by the Nisga'a First Nation in partnership with Tsimshian people, this facility already services established operations like Brucejack and Red Chris, eliminating concentrate transportation challenges that typically burden remote exploration projects. President Thomas Mumford emphasizes this represents "a simple project" that capitalizes on regional infrastructure rather than requiring standalone processing facilities costing $300-500 million.Ocean Partners secured an 11% equity position while committing $25 million US toward construction financing and an offtake agreement covering the feasibility-level resource. CEO Brent Omland joined Scottie's board concurrent with the transaction, aligning producer and offtaker interests. The agreement incorporates flexible buyout provisions and per-ton penalties rather than restrictive covenants, preserving Scottie's optionality as the project scales. This partnership capitalizes on favorable smelter market dynamics, with structural supply deficits in China driving negative treatment charges that enhance margins for direct ore shipments.Project economics demonstrate significant leverage to elevated gold prices, with preliminary economic assessment showing an NPV of $216 million CAD at $2,600 per ounce expanding to $670 million CAD at $4,200 per ounce with a 150% internal rate of return. The initial 18-month open pit phase targets 80,000 ounces at 7.7 grams per ton, generating sufficient cash flow to self-fund underground development and repay initial capital expenditures. This rapid payback profile reduces execution risk while accelerating unencumbered cash flow generation.Total capital requirements of $130 million CAD will be met through Ocean Partners' facility, traditional project financing structures evaluated post-feasibility study, and open pit cash flow. The company recently launched a $23 million financing round with strong insider participation, including mining entrepreneur Ross Beaty's 5% position. Management plans a competitive process for remaining funding, targeting a 70/30 debt-to-equity ratio that minimizes shareholder dilution while leveraging institutional appetite for senior secured positions in near-production precious metals projects.Permitting progresses through two-year environmental baseline studies initiated summer 2025, positioning Scottie to submit a Joint Permit Amendment Application in 2027. This streamlined pathway modernizes the property's historic mining permit rather than requiring full environmental assessment. Using Ascot Resources' eight-month approval precedent for a more complex operation, Mumford projects mid-2028 permitting completion enabling commercial production that year.First Nations relationships benefit from unique circumstances involving the Nisga'a Nation, BC's only treaty First Nation, whose recent port facility acquisition creates direct economic alignment with regional mining success. The company is negotiating an Impact and Benefit Agreement formalizing commercial terms and community commitments that underpin social license. Beyond near-term production, Scottie maintains active exploration targeting resource expansion from 700,000 ounces toward 2+ million ounces through a planned 10,000-meter drilling campaign in 2026.View Scottie Resources' company profile: https://www.cruxinvestor.com/companies/scottie-resources-corpSign up for Crux Investor: https://cruxinvestor.com

Interview with Mark Selby, Chief Executive Officer of Canada Nickel. Our previous interview: https://www.cruxinvestor.com/posts/g7-nations-advance-critical-minerals-pact-to-reshape-global-supply-chains-and-industrial-policy-8401Recording date: 18th November 2025Canada Nickel Company has secured a transformative milestone with its Crawford Nickel project's referral to Canada's Major Projects Office, joining only three mining developments selected for expedited government support. This highly selective designation provides coordinated permitting assistance, enhanced financing access, and direct political backing from Prime Minister Mark Carney and Minister of Natural Resources Tim Hodgson.The MPO, led by proven infrastructure executive Dawn Farrell and backed by $200 million in funding, functions as a single point of contact that eliminates bureaucratic duplication across federal and provincial jurisdictions. For Crawford, this translates to accelerated permitting timelines, with federal approvals targeted for early 2026 and provincial permits following through Ontario's new accelerated framework. CEO Mark Selby has committed to breaking ground by the end of 2026, representing an aggressive 18-month timeline from referral to construction start.Beyond permitting efficiency, the MPO provides priority access to international funding programs in France, Germany, and Japan, plus government-led engagement with sovereign wealth funds seeking billion-dollar co-investment opportunities. Canada Nickel expects multiple financing announcements through early-to-mid 2026, with the complete capital stack in place by mid-year to support a Q3-Q4 construction decision.The project's selection from among 15-20 late-stage critical minerals candidates validates Crawford's competitive positioning across government priorities: scale, deliverability, First Nations partnership, and low-carbon credentials. Prime Minister Carney's statement that Crawford is "setting a new standard in terms of how responsible mining gets done" underscores the political commitment extending well beyond typical project announcements. For investors, this government backing substantially de-risks the development pathway while providing clear near-term milestones for value inflection.—Learn more: https://cruxinvestor.com/companies/canada-nickelSign up for Crux Investor: https://cruxinvestor.com

Stephen Grootes speaks to Minerals Council SA CEO Mzila Mthenjane about the B20 energy mix and just transition dialogue, where South Africa’s mining and industrial leaders stressed that the country’s energy transition must be pragmatic, policy-stable, and collaborative to unlock its mineral and industrial potential. The Money Show is a podcast hosted by well-known journalist and radio presenter, Stephen Grootes. He explores the latest economic trends, business developments, investment opportunities, and personal finance strategies. Each episode features engaging conversations with top newsmakers, industry experts, financial advisors, entrepreneurs, and politicians, offering you thought-provoking insights to navigate the ever-changing financial landscape.    Thank you for listening to a podcast from The Money Show Listen live Primedia+ weekdays from 18:00 and 20:00 (SA Time) to The Money Show with Stephen Grootes broadcast on 702 https://buff.ly/gk3y0Kj and CapeTalk https://buff.ly/NnFM3Nk For more from the show, go to https://buff.ly/7QpH0jY or find all the catch-up podcasts here https://buff.ly/PlhvUVe Subscribe to The Money Show Daily Newsletter and the Weekly Business Wrap here https://buff.ly/v5mfetc The Money Show is brought to you by Absa     Follow us on social media   702 on Facebook: https://www.facebook.com/TalkRadio702 702 on TikTok: https://www.tiktok.com/@talkradio702 702 on Instagram: https://www.instagram.com/talkradio702/ 702 on X: https://x.com/CapeTalk 702 on YouTube: https://www.youtube.com/@radio702   CapeTalk on Facebook: https://www.facebook.com/CapeTalk CapeTalk on TikTok: https://www.tiktok.com/@capetalk CapeTalk on Instagram: https://www.instagram.com/ CapeTalk on X: https://x.com/Radio702 CapeTalk on YouTube: https://www.youtube.com/@CapeTalk567 See omnystudio.com/listener for privacy information.

The Greens' new mining policy isn't just bold. Duncan calls it what it is - reckless economic sabotage. In today's episode, he breaks down exactly what it would mean if a future government tore up mining permits that companies had already spent years and millions securing. Investor confidence falls through the floor, regions lose jobs, and Kiwi workers head to Australia because the opportunities here get pulled out from under them. New Zealand First's Shane Jones joins the show to unpack the scale of the damage, from constitutional overreach to the reality of what foreign investors are saying behind closed doors. If the Greens want to scare off capital before projects even start, Duncan argues, this is exactly how to do it. We also hear from a government worker offering rare insight into real public sector cuts, despite claims to the contrary. It's all part of a bigger question - how do we build anything in this country, when every long-term project becomes a political football? Find every episode and discover your next favourite podcast on the rova app or rova.nz Learn more about your ad choices. Visit megaphone.fm/adchoices

Southern Sun's October occupancy jumps to 73.3% – the highest since the 2010 World Cup – signalling a major recovery for South African tourism, with the group committing R500m to a 50-year Durban hotel lease. Pick n Pay stabilises as the Ackerman family backs the turnaround, while rising power tariffs force retrenchments at Merafe. Plus, local is lekker proves true in a four-year investment contest, and in a surprise move, Berkshire Hathaway buys $5bn of Alphabet shares.

WULF's CFO joins the pod to discuss TeraWulf's Q3 earnings, financing strategy, and the future of its bitcoin mining business. Subscribe to the Blockspace newsletter for market-making news as it hits the wire! Welcome back to The Mining Pod! Today, Patrick Fleury, CFO of TeraWulf, joins us to talk about WULF's Q3 where they booked their first AI revenue at $7.2 million, signed AI deals with FluidStack  and Core42, and how they're balancing their debt structure. Patrick also drops a provocative warning about Bitcoin's security: with US hashrate potentially dropping from 40% to just 5-10% by 2028, Bitmain could become the largest miner controlled by China, creating the only real vulnerability in Bitcoin's network. Subscribe to the newsletter! https://newsletter.blockspacemedia.com **Notes:** • First AI revenue: $7.2 million in Q3 • 450MW contracted with FluidStack at Lake Mariner • 72.5MW deal with Core42 signed • Demand response revenue: $7.3-7.4 million Q3 • Adjusted energy cost: 4.7 cents per kWh • Current hashrate: 7.2 exahash Timestamps: 00:00 Start 02:57 Anthropic 05:50 Q3 summary 11:05 HPC & income margin 13:01 Designing capital raises 21:31 Balancing different debt instruments 25:50 Replacing ATM debt 29:07 Agreements 33:32 Bitcoin mining ops

Equinox gold says it has reached commercial production at its Valentine gold Mine in Newfoundland and Labrador. Magna Mining has published a mineral resource estimate for the Levack Mine in the Sudbury Basin of Ontario. First Mining Gold shared results of their updated Pre-Feasibility Study for the Springpole Gold Project in Ontario. District Metals says the airborne MobileMT survey conducted over its 100%-owned Tåsjö nr 101 to 108 mineral licenses, located in Jämtland and Västerbotten Counties, north-central Sweden, were successful.This episode of Mining Stock Daily is brought to you by... Revival Gold is one of the largest pure gold mine developer operating in the United States. The Company is advancing the Mercur Gold Project in Utah and mine permitting preparations and ongoing exploration at the Beartrack-Arnett Gold Project located in Idaho. Revival Gold is listed on the TSX Venture Exchange under the ticker symbol “RVG” and trades on the OTCQX Market under the ticker symbol “RVLGF”. Learn more about the company at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠revival-dash-gold.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Vizsla Silver is focused on becoming one of the world's largest single-asset silver producers through the exploration and development of the 100% owned Panuco-Copala silver-gold district in Sinaloa, Mexico. The company consolidated this historic district in 2019 and has now completed over 325,000 meters of drilling. The company has the world's largest, undeveloped high-grade silver resource. Learn more at⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠https://vizslasilvercorp.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Equinox has recently completed the business combination with Calibre Mining to create an Americas-focused diversified gold producer with a portfolio of mines in five countries, anchored by two high-profile, long-life Canadian gold mines, Greenstone and Valentine. Learn more about the business and its operations at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠equinoxgold.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Integra Resources is a growing precious metals producer in the Great Basin of the Western United States. Integra is focused on demonstrating profitability and operational excellence at its principal operating asset, the Florida Canyon Mine, located in Nevada. In addition, Integra is committed to advancing its flagship development-stage heap leach projects: the past producing DeLamar Project located in southwestern Idaho, and the Nevada North Project located in western Nevada. Learn more about the business and their high industry standards over at integraresources.com

Interview with Trey Wasser, CEO of Dryden Gold Corp.Our previous interview: https://www.cruxinvestor.com/posts/dryden-gold-tsxvdry-centerra-backed-explorer-targets-district-scale-gold-in-ontario-8109Recording date: 17th November 2025Dryden Gold Corp (TSXV: DRY) has emerged as a compelling strategic acquisition target in Ontario's gold sector following successful execution of its 2025 exploration program and explicit endorsement from major mining company partners. The company controls 70,000 hectares in northwest Ontario hosting multiple high-grade gold discoveries across four distinct mineralization types, with fully funded drilling planned for 2026 under management explicitly targeting a Great Bear Resources-style exit.The investment thesis centers on systematic district-scale exploration designed to attract strategic buyers rather than pursue standalone mine development. Recent drilling fundamentally reshaped the geological understanding at the Gold Rock target area, revealing nine interconnected high-grade structures within a 300-meter span—including intercepts of 300 grams per ton over 3.9 meters and 55 grams per ton over 3.5 meters—connected by continuous one gram per ton mineralization. This discovery transformed what appeared to be isolated veins into an integrated system where lower-grade material provides economic continuity while high-grade shoots create exploration upside.Strategic validation provides perhaps the most compelling near-term catalyst. Centerra Gold invested in 2024 and has explicitly directed management to continue district-scale exploration rather than focus exclusively on infill drilling at known high-grade zones. Alamos Gold maintains similar engagement, while additional confidentiality agreements with unnamed major and mid-tier mining companies indicate active corporate interest. These sophisticated mining companies endorse the systematic approach because it generates the comprehensive geological understanding and high-quality data they require for acquisition decisions.The technical team significantly de-risks execution. President Maura Kolb led the Red Lake mine exploration team for five years, managing 90 personnel and a $50 million annual budget while reducing finding costs from $500 to $50 per ounce. Her major-mine experience directly informs Dryden's exploration protocols including oriented core drilling, 100% core assaying, and property-wide geochemical surveys—practices that distinguish systematic explorers from promotion-focused juniors. Kolb's team discovered the hanging wall structures specifically because they assayed all rock types rather than only visible quartz veins.The property's geological diversity creates multiple value pathways. Beyond the Archean lode gold system at Gold Rock—which Kolb compares directly to Red Lake geology—the company has confirmed intrusive-related mineralization at Sherridon, granite diorite-hosted stockwork at Hyndman analogous to NexGold's 1.5-million-ounce Goliath Gold project, and VMS-style mineralization elsewhere. CEO Trey Wasser characterizes this as a "Timmins-like camp" where exceptional gold endowment manifests across multiple geological settings, creating optionality for project-specific joint ventures or staged transactions.Infrastructure advantages reduce development risk and enhance acquisition appeal. Highway 502 provides direct access from Sherridon through Gold Rock to the town of Dryden, while the Trans-Canada Highway accesses Hyndman. Both regional projects have been clear-cut for logging, creating existing access roads. The northwest Ontario location provides political stability, established mining regulations, available contractors and skilled labor, and proximity to operating mines including Red Lake—attributes that command premium valuations as mining companies reassess exposure to jurisdictions with increasing political risk.Dryden enters 2026 fully funded from August 2025 financing to complete 20,000-25,000 meters of drilling, with approximately 50% dedicated to Gold Rock expansion and the remainder advancing multiple district targets. At $4,000 gold, the company offers leveraged exposure to exploration success, strategic transaction, or both, backed by partner validation and systematic technical approach designed specifically for strategic buyer requirements.View Dryden Gold's company profile: https://www.cruxinvestor.com/companies/dryden-goldSign up for Crux Investor: https://cruxinvestor.com

Interview with Hayden Locke, President & CEO of Marimaca Copper Corp.Our previous interview: https://www.cruxinvestor.com/posts/marimaca-copper-tsxmari-environmental-milestone-clears-path-for-q1-2026-ground-breaking-8471Recording date: 14th November 2025Marimaca Copper is advancing its Pampa Medina project in northern Chile with drill results that significantly exceed expectations and confirm the potential scale of a sedimentary-hosted copper system. The latest intercepts include nearly 50 meters at 2% copper within a broader 160-meter zone grading 1% copper, representing a material extension to the oxide envelope with grades surpassing current resource models.The company's aggressive exploration strategy has delivered impressive results from long-distance stepout drilling. Holes positioned 900 meters south of known mineralization successfully intersected the same sedimentary horizon, encountering zones of 20 to 40 meters at 1.5% copper. According to CEO Hayden Locke, these results were "thicker higher grade zones than we were expecting in that area where we thought it was going to be thinning," prompting continued drilling in multiple directions.Marimaca is executing a 30,000-meter drill program split between aggressive 300-meter-spaced stepouts to define deposit limits and tighter infill drilling to establish grade continuity. The approach reflects confidence that sedimentary-hosted copper systems "tend to be laterally and regionally quite extensive," with early results suggesting mineralization across a basin spanning multiple kilometers.Perhaps most significantly, geological review has prompted a fundamental reassessment of the deposit's development potential. The mineralized sedimentary horizon averages over 200 meters thickness with consistent grades, leading management to reconsider what was previously viewed as an underground-only opportunity. The identification of lower-grade material in halos around high-grade cores suggests potential for large-tonnage open-pit development, fundamentally expanding the project's scale.The oxide resource, originally expected to add 20,000 tons of annual copper production, now appears poised to deliver "significantly more than that" according to Locke. The company is targeting release of a standalone Preliminary Economic Assessment by December 2025, which will provide initial economics for the oxide opportunity while sulfide potential continues to be evaluated through ongoing exploration.View Marimaca Copper's company profile: https://www.cruxinvestor.com/companies/marimaca-copperSign up for Crux Investor: https://cruxinvestor.com

Interview with Riaan Davel, CFO, and Henriette Hooijer, CFO Designate and GM: Finance of DRDGOLD Ltd.Our previous interview: https://www.cruxinvestor.com/posts/drdgold-nysedrd-moving-towards-200000-oz-gold-production-from-tailings-8411Recording date: 17th November 2025DRDGOLD Limited, a 130-year-old South African gold mining company, is executing a carefully orchestrated leadership transition as CFO Riaan Davel prepares to hand over responsibilities to Henriette Hooijer on February 1, 2026. The succession, built on a 20-year working relationship including nine years together at DRDGOLD, reflects the company's commitment to maintaining strategic continuity as it pursues ambitious growth plans.The company operates a distinctive business model focused on surface tailings retreatment—processing historical mining waste to extract gold while simultaneously remediating over a century of environmental damage. This "mega volumes, nano recovery" approach processes material containing just 200 parts per billion of gold, demonstrating that environmental restoration and economic viability need not be mutually exclusive. As Davel explains, "We own waste essentially. So how do we make the most of that?"DRDGOLD's disciplined execution has generated impressive results. Market capitalization has grown to approximately $2 billion, enabling capital deployment of roughly 10 billion rand in recent years, with another 8 billion rand planned over the next three years. This investment is building infrastructure designed for 20-40 year operational lifespans at operations like Far West, while repositioning the older Ergo facility for improved cost efficiency.Despite favorable gold prices—currently around 2.2 million rand per kilogram versus 600,000 rand when Far West was initially planned- management maintains the cost discipline developed during tougher market conditions. The company has paid dividends for 18 consecutive years while internally financing major capital projects, balancing stakeholder interests through what Davel describes as keeping "all your stakeholders equally unhappy" to optimize long-term resource extraction over short-term profit maximization.Looking ahead, DRDGOLD is exploring expansion opportunities across Africa and potentially South America, considering partnerships with established operators in unfamiliar jurisdictions while maintaining gold as its primary focus. Hooijer's operational project experience, combined with Davel's continued 12-month consulting support, positions the company to execute its Vision 2028 strategy while exploring how its proven retreatment model might address tailings challenges for major mining companies globally.View DRDGOLD's company profile: https://www.cruxinvestor.com/companies/drdgold-limitedSign up for Crux Investor: https://cruxinvestor.com

Interview with Justin van der Toorn, President & CEO of Greenheart Gold Inc.Our previous interview: https://www.cruxinvestor.com/posts/greenheart-gold-tsxvghrt-proven-explorer-accelerates-guiana-shield-drilling-for-major-discovery-8003Recording date: 17th November 2025Greenheart Gold (TSXV:GHRT) is leveraging a proven management team and substantial capital base to pursue multiple gold discoveries across Guyana and Suriname. Led by President and CEO Justin van der Toorn, the executive team previously built Reunion Gold and discovered the 6-million-ounce Oko West deposit, which is now advancing toward production in 2027. This track record provides credibility as Greenheart pursues its disciplined exploration strategy across the highly prospective Guyana Shield.The company's most distinguishing feature is its approximately $35 million cash position—unusual for a junior explorer. This capital cushion enables Greenheart to operate differently than competitors, maintaining exploration momentum across multiple projects simultaneously without the constant pressure of capital raises and shareholder dilution. As van der Toorn explains, this financial flexibility allows systematic project evaluation where promising targets advance quickly while underperforming projects are dropped without hesitation.Greenheart has already demonstrated this discipline by relinquishing certain Guyana projects that failed to generate attractive drilling targets or lacked the scale necessary for economic development. The company recognizes that discovery thresholds vary significantly based on location—projects near existing operations like Newmont's Merian mine could be valuable with smaller discoveries, while remote interior projects require substantially larger deposits.Currently, Greenheart is executing an active drilling program at its Majorodam project in Suriname, with 1,500 meters planned by year-end. The program builds on earlier reverse circulation and diamond drilling that established structural controls on mineralization. Additional drilling campaigns are scheduled for Igab in January 2026 and Tosso Creek in Q1 2026, creating multiple discovery opportunities over approximately six months.Operating in Guyana and Suriname provides significant jurisdictional advantages, including efficient permitting and established infrastructure. The Oko West example demonstrates what's achievable: a seven-year timeline from discovery to production, remarkably fast by global standards. Greenheart maintains all-in drilling costs of approximately $300 per meter despite challenging jungle terrain, reflecting operational efficiency developed through years of regional work.Despite favorable gold market conditions creating investor demand for rapid results, Greenheart maintains its methodical approach of thorough soil sampling, trenching, and structural mapping before committing significant drill capital. This strategy optimizes capital efficiency even if it doesn't generate the rapid-fire news releases some investors expect in strong markets.With three Suriname projects at various advancement stages, proven management expertise, operational efficiency, and financial flexibility to maintain exploration momentum, Greenheart Gold has positioned itself to systematically pursue new discoveries in one of the world's premier exploration environments.View Greenheart Gold's company profile: https://www.cruxinvestor.com/companies/greenheart-gold

This week's episode features Alon Olsha, Senior Analyst for Metals & Mining at Bloomberg Intelligence, in conversation with host Adrian Pocobelli on the latest developments at Glencore. Alon explains the mounting shareholder pressure over Glencore's shrinking copper portfolio and its dominant but controversial trading division. He also explores the company's growing focus on Argentina as a key growth region. The discussion also explores the significant obstacles Glencore would encounter if it were to pursue a bid for Teck Resources, as well as the structural and market challenges confronting its smelting operations in a competitive global landscape. All this and more with host Adrian Pocobelli. “Rattlesnake Railroad”, “Big Western Sky”, “Western Adventure” and “Battle on the Western Frontier” by Brett Van Donsel (⁠www.incompetech.com⁠). Licensed under Creative Commons: By Attribution 4.0 License ⁠creativecommons.org/licenses/by/4.0⁠ Apple Podcasts:⁠ https://podcasts.apple.com/ca/podcast/the-northern-miner-podcast/id1099281201⁠ Spotify:⁠ https://open.spotify.com/show/78lyjMTRlRwZxQwz2fwQ4K⁠ YouTube:⁠ https://www.youtube.com/@NorthernMiner⁠ Soundcloud:⁠ https://soundcloud.com/northern-miner

Let's dig deep! On this episode of Chi O Conversations, we dive down deep with Sigma Lambda Sister, Nadia Bass, as she discusses her passion for environmental science, making coal mining more sustainable, and Chi Omega!

Today on Politics Wednesday, Mike Hosking was joined by Labour's Ginny Andersen and National's Mark Mitchell to delve into the biggest political stories of the week thus far. They discussed the Hutt Bridge situation, whether Labour backs the Green Party's mining policy, and the anniversary of the Pike River tragedy. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The CFS responds to criticism over its online portal to register farm firefighting units, concerns land won't be able to be rehabilitated for farming after the closure of an SA mineral sands mine, and SA's Fat Farmers joining forces with fellow health organisation Active Farmers to help grow its program.

Recording date: 14th November 2025The precious metals sector is experiencing a convergence of favorable conditions that veteran investors describe as one of the best commodity setups in decades. At the recent Precious Metals Summit in Zurich, industry leaders including Pierre Lassonde, Frank Giustra, and Marc Faber highlighted observable market fundamentals supporting this outlook: global liquidity at record highs, structural demand emerging from technological infrastructure, and mining companies generating unprecedented cash flows while trading at reasonable valuations.Global liquidity continues expanding despite recent volatility. The People's Bank of China maintains liquidity injections, while the New York Fed has announced plans for substantial liquidity injection into US markets during Q1 2026. The recent government shutdown ending will release capital trapped in the treasury system for over a month. This liquidity expansion creates sustained support for precious metals as fiat currency purchasing power deteriorates.A less obvious but transformative demand driver emerges from artificial intelligence infrastructure development. The US needs to build at least 350 gigawatts of power dedicated to AI infrastructure—equivalent to 50 nuclear power plants—representing a trillion-dollar investment cycle for power generation alone. This excludes electrical grids, transmission infrastructure, and computing hardware. Recent government partnerships with Brookfield, Cameco, and Westinghouse for nuclear facility development signal the beginning of infrastructure spending requiring massive copper, steel, and concrete quantities while necessitating continued government liquidity injection supportive of gold prices.Third quarter 2025 results demonstrated the financial leverage inherent in gold mining operations. AngloGold Ashanti increased quarterly operating cash flow from $300 million to $1.4 billion—more than quadrupling while gold prices doubled. Even accounting for the Centamin acquisition contributing 20% of production, cash flow expansion significantly exceeds gold price appreciation. The company now operates with zero net debt, increased dividends, and strategic flexibility for acquisitions or capital returns while trading at roughly half the valuation of Agnico Eagle Mines despite comparable cash generation.K92 Mining offers equally compelling value, posting six consecutive quarters of free cash flow while organically funding construction of a complete new mill, twin declines, and associated infrastructure. The Phase 3 expansion completing commissioning in Q4 2025 will drive significant cash flow growth as throughput increases with minimal incremental operating costs. Operating costs scale favorably—an 800 tonne per day mill requires similar oversight as a 3,000 tonne per day mill. Market valuations have not yet reflected this coming cash flow expansion, creating opportunity for investors who understand the timeline and trust management execution.The M&A cycle is accelerating as producers with pristine balance sheets deploy capital. Recent examples include B2 Gold taking a 19.9% stake in Prospector Generator (now funded with $40 million for 2026 exploration), Probe Gold's acquisition, New Gold's pending takeover, and Gold Fields committing $50 million to junior investments. The competition for quality assets remains in early stages despite this activity.Investment opportunities span the market capitalization spectrum: established producers generating record profits at reasonable valuations, funded developers approaching major cash flow inflections, and well-backed exploration companies positioned for discoveries. Current Q4 volatility represents tactical entry opportunities before typical Q1 seasonal strength, with multiple fundamental drivers supporting sustained outperformance of real assets over the coming decade.Learn more: https://cruxinvestor.comSign up for Crux Investor: https://cruxinvestor.com

Interview with Paul Gow, CEO, Tribeca ResourcesOur previous interview: https://www.cruxinvestor.com/posts/tribeca-resources-trbc-why-copper-start-up-is-hitting-it-big-2978Recording date: 14th November 2025Tribeca Resources Corporation has rapidly emerged as a focused copper exploration company in northern Chile, backed by a recent C$6.5 million financing that exceeded its original C$5 million target. The raise, completed in a strengthening copper market, brought 82 investors onto the register, including 67 new shareholders, and diversified ownership while still keeping management significantly aligned through a 22% stake. This capital provides roughly 18 months of runway and positions the TSX Venture-listed junior to advance a three-project portfolio across several of Chile's most prolific copper belts.At the core of Tribeca's strategy is a portfolio approach to early-stage exploration, designed to manage the inherent risk of discovery. The flagship La Higuera project, located in Chile's coastal iron oxide copper gold (IOCG) belt, is the most advanced asset, with about 10,000 meters of drilling completed. Results outline a 1.5-kilometer mineralized strike with broad copper intersections amenable to open-pit, bulk-tonnage development. Low all-in drilling costs of roughly 300 USD per meter, shallow cover, and strong infrastructure support an efficient exploration model. Planned 4,000-meter drilling will expand known zones, test additional targets, and refine the project toward eventual resource definition, while metallurgical work highlights copper, gold, magnetite, and cobalt recovery potential.Complementing La Higuera, the newly acquired Jiguata project offers high-risk, high-reward exposure to a large porphyry system in a belt hosting world-class deposits such as Chuquicamata. A back-end loaded, five-year option agreement totaling 15 million USD minimizes early cash outlay and mandates 3,000 meters of deep drilling to properly test the system. Tribeca aims to generate clear technical outcomes that can either justify a major joint venture or allow disciplined exit. A third project, Chiricuto, remains in the portfolio as an earlier-stage opportunity, underscoring the company's willingness to follow data and recycle assets as value and results dictate.Tribeca augments traditional geological expertise with artificial intelligence, partnering with WovenAI to interrogate Chile's SIGEX database of more than 1,200 prospects and rank the top IOCG targets for potential acquisition. Operating with a lean team and directing a high proportion of capital into the ground, the company offers investors leveraged exposure to copper discovery in a tier-one jurisdiction, balancing near-term advancement at La Higuera with the scale potential of Jiguata and future AI-driven project generation.Learn more: https://www.cruxinvestor.com/companies/tribeca-resourcesSign up for Crux Investor: https://cruxinvestor.com

In today's episode, we're joined by Dominic Raab, former UK Deputy Prime Minister and now Head of Global Affairs at Appian Capital Advisory, one of the leading investors in the mining and metals sector.  We'll be discussing his transition from politics to mining, how Dominic's experience in government influences his new role, and the growing importance of policy and public–private partnerships in securing the global supply of critical minerals. We'll also explore how regions like the UK and Europe, despite having fewer natural resources, can remain competitive and resilient in a rapidly changing market. And finally, we'll get Dominic's outlook for the mining industry over the next five to ten years. It's a timely and thought-provoking discussion that connects policy, strategy, and sustainability  Dominic is also going to be attending the upcoming Resourcing Tomorrow event - the premier gathering for the world's mining leaders taking place in London from 2-4 December. What sets this event apart is its unmatched audience: C-level executives from the biggest mining companies worldwide, over 40 government ministers, leading mining technology providers, and many more mining professionals in the industry. Dig Deep The Mining Podcast is proud to partner with Resourcing Tomorrow. To register, go to https://hubs.ly/Q03JvH2K0 and use DIGDEEP10 for 10% off your pass. KEY TAKEAWAYS The demand for critical minerals, such as cobalt and lithium, is rapidly increasing due to their essential roles in technology, energy transition, and national security.  This growing demand highlights the need for secure and diversified supply chains. Effective public-private partnerships can de-risk mining projects by providing seed capital and leveraging private sector expertise. The UK and Europe are perceived to be lagging behind global competitors, particularly China, in developing policies for critical minerals BEST MOMENTS "Mining as a sector is notoriously inefficient at allocating capital, and we've got this concentration of supply and the subsidies and the tools of a command economy that China avails itself of." "The defence demands, both conventional and the new ones like missile defence and drones, all huge demand drivers for critical minerals and rare earths." "I think the basic elements are the same. There's this capex challenge of investing and attracting long-term patient capital into mining." VALUABLE RESOURCES Mail:        ⁠rob@mining-international.org⁠ LinkedIn: ⁠https://www.linkedin.com/in/rob-tyson-3a26a68/⁠ X:              ⁠https://twitter.com/MiningRobTyson⁠  YouTube: ⁠https://www.youtube.com/c/DigDeepTheMiningPodcast⁠  Web:        ⁠http://www.mining-international.org⁠ CONTACT METHOD ⁠rob@mining-international.org⁠ ⁠https://www.linkedin.com/in/rob-tyson-3a26a68/⁠ Podcast Description Rob Tyson is an established recruiter in the mining and quarrying sector and decided to produce the “Dig Deep” The Mining Podcast to provide valuable and informative content around the mining industry. He has a passion and desire to promote the industry and the podcast aims to offer the mining community an insight into people's experiences and careers covering any mining discipline, giving the listeners helpful advice and guidance on industry topics.  This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/

A court in Britain has ruled that the mining company BHP is legally responsible for the collapse of a dam in 2015 which caused one of Brazil's worst environmental disasters. The failure of the Mariana dam (in southeastern Brazil) unleashed a wave of toxic waste that killed nineteen people and polluted a major river. It was owned by a joint venture between the Brazilian firm, Vale, and BHP - which was headquartered in Britain at the time. Hundreds of thousands of Brazilian victims are seeking what could amount to billions of dollars in compensation. BHP says it intends to appeal. Also in the programme: controversy in Turkish football; and we hear from a mystery person photographed during the Louvre heist. (Photo: A view shows the BHP Group logo at their headquarters in Melbourne, Australia. CREDIT: REUTERS/Hollie Adams/File Photo)