Podcasts about mining stocks

Find us at www.crisisinvesting.com In this episode, we return from a week off to discuss the latest political and economic happenings. They delve into the One Big Beautiful Bill Act that has been passed by the House, although not yet by the Senate. Highlights of the bill include permanent tax cuts, adjustments in the child tax credit, and increased defense spending. The conversation also covers Elon Musk's struggles with government cuts, the convoluted student loan system, and the rise of AI regulations. With in-depth analysis, they discuss the geopolitical tensions involving Russia and Ukraine, and Israel and Iran. Additionally, they explore the intricacies of the Golden Dome defense project, rising cyber attacks, and the concerning state of mining companies in the market. The episode concludes with discussions on nonprofit oversight, the controversial portrait of Donald Trump on a government building, and notable figures like Rahm Emanuel considering a presidential run. 00:00 Introduction and Weekly Recap 00:05 Overview of the OBA Bill 00:20 Permanent Tax Cuts and Deficit Concerns 01:14 Doge Provisions and Musk's Resignation 03:55 Child Tax Credit and SALT Deduction Cap 05:11 Tax Exemptions and Trump's Savings Accounts 07:08 Debt Ceiling Increase and Financial Concerns 08:22 Healthcare and Social Services Reforms 12:16 Student Loan Policy and Education Costs 14:27 Defense Spending and Border Security 17:37 AI Regulation Moratorium and Green Energy Rollbacks 18:36 IRS Direct File Program Termination 20:28 University Endowment Tax and Nonprofit Oversight 24:28 National Debt Increase and Senate Opposition 25:59 Trump's Megalomania and Public Image 29:12 Rahm Emanuel's Presidential Ambitions 30:29 Kanye West's Cancellation and Comeback 31:26 Dual Citizenship in High Government Positions 32:19 Trump's Control and Indictments 33:35 Epstein's Death and FBI's Response 35:54 Washington Post's Book Recommendations 38:49 Golden Dome and Modern Warfare 41:12 Cyber Attacks and Global Tensions 49:03 Israel-Iran Conflict 56:04 Mining Stocks and Market Trends 01:00:26 Conclusion and Upcoming Topics

Bitcoin's at an all-time high and bitcoin mining stocks are feeling the love, and Texas is one step closer to a bitcoin strategic reserve. FILL OUT THE MINING POD SURVEY BY CLICKING HEREYou're listening to The Mining Pod. Subscribe to the newsletter, trusted by over 16,000 BitcoinersCheck out our free report on forecasting Bitcoin's hashrate!Welcome back to The Mining Pod! Bitcoin is ripping and just set an all-time high of $112,000. Bitcoin mining stocks are rallying hard in return, and we cover the winners (and laggards) at the top of the show. Plus, company updates on Cango's 18 EH/s expansion and Cipher's $150M convertible note, how Texas is on the cusp of establishing a bitcoin strategic reserve, and Parasite Pool's novel "plebs eat first" payout model.# Notes:• Bitcoin reaches all-time high above $111,000• Hash price sits at $58/PH/day• Cango exercises 18 EH/s purchase option• Cipher Mining raises $150M convertible note• Network hashrate at 880 EH/s currentlyTimestamps:00:00:00:00 Start00:01:55:11 Hashprice forecast with Luxor00:04:38:24 Mining Stocks Rip upwards00:10:39:09 Fractal Bitcoin00:11:14:07 Cango & Antalpha sale00:16:55:06 Cipher growing fleet00:22:56:27 Texas passes first part of SBR00:26:31:17 New Pleb mining pool

FILL OUT THE MINING POD SURVEY BY CLICKING HERE You're listening to The Mining Pod. Subscribe to the newsletter, trusted by over 16,000 Bitcoiners Check out our free report on forecasting Bitcoin's hashrate! Welcome back to The Mining Pod! Bitcoin is ripping and just set an all-time high of $112,000. Bitcoin mining stocks are rallying hard in return, and we cover the winners (and laggards) at the top of the show. Plus, company updates on Cango's 18 EH/s expansion and Cipher's $150M convertible note, how Texas is on the cusp of establishing a bitcoin strategic reserve, and Parasite Pool's novel "plebs eat first" payout model. # Notes: • Bitcoin reaches all-time high above $111,000 • Hash price sits at $58/PH/day • Cango exercises 18 EH/s purchase option • Cipher Mining raises $150M convertible note • Network hashrate at 880 EH/s currently Timestamps: 00:00:00:00 Start 00:01:55:11 Hashprice forecast with Luxor 00:04:38:24 Mining Stocks Rip upwards 00:10:39:09 Fractal Bitcoin 00:11:14:07 Cango & Antalpha sale 00:16:55:06 Cipher growing fleet 00:22:56:27 Texas passes first part of SBR 00:26:31:17 New Pleb mining pool

Compass, episode 16Our previous interview: www.cruxinvestor.com/posts/silver-companies-merging-to-gain-scale-in-rising-market-7145Recording date: 20 May 2025Resource exploration companies operating in northern regions like Canada and Alaska follow a predictable seasonal pattern that creates potential investment opportunities for informed investors. According to experts Samuel Pelaez and Derek Macpherson from Olive Resource Capital, these "seasonal explorers" operate primarily during summer months due to weather constraints, creating a predictable annual cycle in both operations and stock performance.The cycle begins in late spring (May) when companies announce exploration programs and mobilize crews. Summer (June-August) brings active exploration with ongoing drilling programs and preliminary updates. By fall (September-November), companies release results from summer programs, often coinciding with major industry conferences. Winter and spring (December-April) see limited operational activity and news flow, typically resulting in declining share prices.A significant factor influencing this pattern is the structure of flow-through funding in Canada. Flow-through funds, which provide tax advantages to investors, often conduct raises in the fall that must be deployed by year-end. These investments typically have a four-month hold period, creating selling pressure around April when funds liquidate positions to return capital to investors.This selling pressure, combined with the natural lull in news flow during spring, creates potential buying opportunities for investors who understand the pattern. The experts suggest that 2025 presents unique circumstances, with the resource sector having stronger momentum than in previous years, particularly in copper and gold.For investors looking to capitalize on these patterns, the experts recommend identifying companies operating in areas with defined seasonal constraints, focusing on early-stage companies where the pattern is more pronounced, and considering companies with multiple assets that can maintain year-round news flow.Currently (May 2025), the experts suggest this may be an opportune time for entry positions in seasonal explorers, particularly in gold and copper, with potential exit opportunities in the fall when exploration results are reported.Sign up for Crux Investor: https://cruxinvestor.com

Interview with Pascal Hamelin, President & CEO of Abcourt Mines Inc.Our previous interview: https://www.cruxinvestor.com/posts/abcourt-mines-tsxvabi-self-funded-high-grade-gold-mill-expands-4922Recording date: 20th May 2025Abcourt Mines (TSXV:ABI) is positioning itself as an emerging gold producer in Quebec, with plans to pour first gold from its 100%-owned Sleeping Giant mine in the second half of 2025. Led by President and CEO Pascal Hamelin, the company has transformed its strategy over the past three years, shifting focus from its unprofitable Elder mine to the high-grade Sleeping Giant project.The Sleeping Giant mine boasts approximately 400,000 ounces of gold resources at an impressive grade of 8 g/t, split evenly between indicated and inferred categories. With significant exploration potential to the east and at depth, Abcourt aims to expand this resource to one million ounces over the next two years using three drill rigs currently operating at the site.Financially, the company has secured an $8 million USD loan from Nebari and is finalizing additional equity financing to complete its funding requirements. Initial production is targeted at 10,000 ounces in the first year, ramping up to 30,000 ounces annually over a six-year mine life. With all-in costs projected at $1,400 USD per ounce, the operation promises substantial margins in the current gold price environment.The project benefits from existing infrastructure, including an operational mill that will initially run at only 40% capacity, creating future expansion opportunities. Multiple mining stopes are already prepared for immediate production once financing is finalized and workers are hired.Abcourt's strategy prioritizes extending the mine life before expanding production. As Hamelin explained: "Our focus will be 80% of the free cash flow, we'll go on Sleeping Giant to make sure that we're extending the life of mine."Beyond Sleeping Giant, the company holds a 500-square-kilometer land package with several earlier-stage assets that could eventually provide additional mill feed. With its modest market capitalization of approximately C$40 million, Abcourt presents a potential re-rating opportunity as it executes its transition to producer status during a favorable gold price environment.View Abcourt Mines' company profile: https://www.cruxinvestor.com/companies/abcourt-mines-incSign up for Crux Investor: https://cruxinvestor.com

Interview with Alain Lambert, CEO of Prismo Metals Inc.Our previous interview: https://www.cruxinvestor.com/posts/prismo-metals-csepriz-junior-explorer-targets-deep-porphyry-system-in-arizonas-copper-triangle-6645Recording date: 23rd April 2025In a recent interview, Alain Lambert, CEO of Prismo Metals, shared insights on political developments and commodity markets affecting the mining sector. With over three decades of experience in junior capital markets since 1987, Lambert provided valuable perspectives for resource investors navigating current market conditions.Lambert predicts the upcoming Canadian federal election on April 28, 2025, will likely result in a Liberal majority government under Mark Carney, continuing similar policies to the Trudeau administration. He attributes this political shift to anti-American sentiment in Canada, particularly in response to comments from US President Trump about Canada becoming "the 51st state." Despite current US-Canada trade tensions, Lambert expresses confidence these issues will be resolved once the new Canadian government is formed.On US trade policy, Lambert views Trump's tariff strategy as a negotiation tactic aimed at reducing trade deficits, addressing government spending, and managing national debt. He anticipates these policies will ultimately benefit the US economy, predicting "an historical economic boom."Lambert references a March executive order directing US government departments to streamline approvals for critical mineral projects, including copper. This policy environment could accelerate development timelines and improve capital access for companies operating in the US resources sector.Regarding metals markets, Lambert acknowledges gold's dramatic price increase from approximately $2,000 to $3,400 over 15 months but expects a correction. He notes mid-cap producers have benefited from the price rally, while junior explorers haven't seen proportional gains. Lambert cautions that any gold price correction could disproportionately impact junior exploration companies.Lambert is particularly optimistic about copper market dynamics, highlighting artificial intelligence as a significant demand driver that is often overlooked. "One thing they don't talk about enough is the impact of AI on electricity demand and the need for more electricity," he stated, adding this factor could be "more pronounced than demand because of electric vehicles."Prismo Metals is strategically positioned with a large copper exploration target approximately 40km from the Resolution Copper project (Rio Tinto/BHP joint venture) in Arizona. Lambert reports significant interest from major mining companies in US copper projects, creating potential partnership opportunities for companies like Prismo in jurisdictions set to benefit from favorable policy developments and strong underlying copper demand.View Prismo Metals' company profile: https://www.cruxinvestor.com/companies/prismo-metalsSign up for Crux Investor: https://cruxinvestor.com

Interview withJohn Cash, CEO of Ur-Energy Inc.Andre Liebenberg, Executive Director & CEO of Yellow Cake PLCRecording date: 14th May 2025The global uranium market is undergoing a fundamental transformation as a confluence of energy transition goals, geopolitical tensions, and new technology drives demand higher. Nuclear power, long sidelined in policy debates, is regaining momentum due to its ability to deliver carbon-free baseload power in a world increasingly powered by data centers, AI infrastructure, and electrification.Key markets like China and the U.S. are leading the resurgence. China alone is building 26 reactors, with more approved, while the U.S. is extending the life and output of existing plants. Beyond these, countries in the UAE, Canada, and Europe are revisiting nuclear as part of their decarbonization strategy. This results in a dual demand dynamic—growth from new builds and rising fuel requirements from uprates and life extensions.A new frontier of demand is also emerging. Small Modular Reactors (SMRs), designed for remote or off-grid applications, are being positioned to serve industrial projects and data centers needing secure, emissions-free energy. This aligns with a broader shift from nuclear being seen purely as a clean energy solution to one that also supports energy sovereignty and national resilience.On the supply side, the uranium sector is constrained. Permitting delays, technical bottlenecks, labor shortages, and long project lead times mean even elevated prices haven't sparked a broad production rebound. Industry leaders like UR Energy CEO John Cash and Yellow Cake CEO Andre Liebenberg point to the lack of conversion and enrichment capacity in Western markets as an additional hurdle. This underscores the need for multi-year investment in the full fuel cycle.Geopolitics are also tightening Western supply chains. Kazakhstan, the world's top uranium producer, is increasingly shipping material eastward, not out of hostility but practicality. Still, the result is a growing bifurcation in global uranium flows that further limits Western procurement options.As a result, institutional investors are being encouraged to view uranium as a structurally revaluing asset class rather than a cyclical commodity. Exposure can be taken through physical holders like Yellow Cake, which tracks uranium prices directly, or producers like UR Energy, which is already generating long-term contract revenue.Risks remain—chiefly around timing, geopolitical disruption, and capital market dynamics. Yet, with demand outpacing supply and investment requirements high, the uranium market appears poised for sustained long-term opportunity.Sign up for Crux Investor: https://cruxinvestor.com

Interview with Craig Foster, Founder & CEO of Ondo InsurTechRecording date: 15th May 2025Ondo InsurTech PLC is emerging as a leader in the insurtech sector with its proprietary water leak detection system, LeakBot. The company is addressing one of the home insurance industry's most significant challenges – water damage, which represents a $17 billion annual claims burden in the US alone with an average claim of $14,000.The LeakBot technology utilizes a patented temperature differential monitoring system that homeowners can easily install by clipping it to their main water pipe. The device measures the temperature of the incoming water pipe and compares it to the ambient temperature. When water isn't being used, these temperatures should equalize; a continuous differential indicates a leak. The system can detect leaks as small as 5 milliliters per minute without requiring professional installation.Insurance companies pay Ondo approximately $5 per month per customer for this service, which includes the hardware, software, and any plumber visits required to find and fix detected leaks. With water damage claims costing insurers about $220 per policy annually, the $60 yearly investment offers a compelling return on investment.The company has achieved significant market penetration with deployments in 151,000 homes and partnerships with 24 insurance companies globally. Ondo reported revenue of nearly £4 million for the fiscal year ending March, with annualized contracted recurring revenue approaching £6 million. Growth is particularly strong in the US market at 400% year-on-year.Ondo's financial trajectory shows a clear path to profitability, with expectations to reach EBITDA-positive trading by the end of the current fiscal year. The business model is designed for improving margins, starting with single-digit P&L margins in the first year but growing to 70-80% in subsequent years.With high customer satisfaction (80+ Net Promoter Score), strong insurance partner retention (100%), and an addressable market of 13-14 million potential customer homes through existing partners alone, Ondo InsurTech is well-positioned in the growing field of preventative insurance technology.Sign up for Crux Investor: https://cruxinvestor.com

Interview withNick Earner, MD of Alkane ResourcesFrazer Bourchier, President & CEO of Mandalay ResourcesRecording date: 19th May 2025Alkane Resources (ASX:ALK) and Mandalay Resources (TSX:MND) have announced a strategic "merger of equals" that will create a significant mid-tier gold producer. The all-share transaction values Mandalay at A$559.1 million ($357.8 million), with Mandalay shareholders receiving 55% ownership of the combined entity and Alkane shareholders retaining 45%.The merged company will operate under the Alkane Resources name, trading on both the ASX and TSX exchanges. It will maintain a diversified portfolio of three producing mines - Tomingley (Australia), Costerfield (Australia), and Björkdal (Sweden) - with an anticipated annual production of 160,000-180,000 gold equivalent ounces.Financial projections for the combined entity are robust, including over $100 million USD in cash, zero debt, and approximately $200 million USD in annual free cash flow. This represents a cash flow multiple of approximately 3:1, compared to the industry standard of 4-5x EBITDA."This company will have over $100 million US in net cash positive with no debt," noted Frazer Bourchier, President and CEO of Mandalay Resources, highlighting the strong financial foundation of the merger.A key strategic rationale for the combination is achieving "capital relevance" through a pro-forma market capitalization of approximately $650 million USD. This scale should qualify the company for inclusion in both the ASX 300 index and the GDXJ (VanEck Junior Gold Miners ETF), potentially attracting institutional investors previously unable to invest due to size limitations.The merger has received unanimous board approval from both companies and secured voting support agreements from key shareholders. Shareholder votes are expected in June 2025, with transaction closing anticipated by August 2025.The combined entity will pursue a disciplined capital allocation strategy focused on organic exploration, M&A opportunities, and potential shareholder returns, operating with a philosophy of empowered site-level leadership and minimal corporate oversight.Sign up for Crux Investor: https://cruxinvestor.com

Interview with Simon Marcotte, President & CEO of Northern Superior Resources Inc.Our previous interview: https://www.cruxinvestor.com/posts/northern-superior-resources-tsxvsup-consolidating-next-big-gold-camp-6910Recording date: 15th May 2025Northern Superior Resources (SUP) presents a compelling investment opportunity through its strategic consolidation of the Chibougamou Gold Camp in Quebec. The company has successfully transformed what was once five separate companies into a two-player district alongside major partner IAMGold, creating critical mass around a combined 12.4 million ounce resource base.The investment thesis centers on Northern Superior's superior asset quality at Filibert, which offers 15-18% higher grades (1.1 g/t) compared to IAMGold's flagship Nelligan deposit (0.95 g/t). More importantly, optimization analysis demonstrates that minor cut-off adjustments could improve Filibert's grade by 40% while retaining 90% of the ounces. This grade advantage becomes crucial for bulk tonnage operations where early cash flow determines project viability and payback periods.Recent exploration success reinforces the value proposition. Northern Superior's latest discovery of 18 meters grading 2.5 g/t gold, including 5 meters at 7 g/t, opens significant underground potential beneath existing open pit resources. This follows the successful model at Detour Lake, where underground expansion has delivered exceptional profitability through higher-grade material.The timing is optimal. IAMGold is approaching "cruise control" at their Côte Lake operation and management has indicated their focus will shift to Chibougamou development, targeting 15+ million ounces across the camp. With all assets within trucking distance and designed to feed a central processing facility, the camp's proximity economics create substantial synergies.Multiple value creation paths exist: organic development, optimization partnerships with IAMGold, or potential takeout as the camp advances toward development. Given junior gold stocks trading at historic lows relative to gold prices and the structural advantages Northern Superior has built within this emerging district, the company offers leveraged exposure to both the macro gold thesis and micro execution excellence.—View Nothern Superior Resources' company profile: https://www.cruxinvestor.com/companies/northern-superior-resources-incSign up for Crux Investor: https://cruxinvestor.com

Joe Mazumdar of Exploration Insights offers pro insights on several mining stocks and recent sector transactions. He also discusses his junior mining stock exit strategy, how mine financiers approach new mine builds, U.S. minerals policy and his recent Peru site tour. Joe Mazumdar is editor and analyst at Exploration Insights. Joe has an extensive, multi-decade background in working for both mining companies and the financial institutions that cover and invest in mining equities. He possesses an excellent understanding of geology, the process of exploration and development, and what it takes to run and finance a mining company. 0:00 Introduction 0:16 Foran Mining $350M financing 2:35 Pan American Silver acquires MAG Silver 7:13 Gold producer valuations 8:43 Fund flows into gold stocks 9:38 Exit strategy 13:36 Negative copper treatment charges 19:52 Former Newmont exec leading US minerals policy 23:52 Modeled gold price for development financing 27:44 Poly-metallic deposits 29:53 Peru site tour Joe Mazumdar's website: https://www.explorationinsights.com/ Follow Joe on Twitter: https://twitter.com/JoeMazumdar Sign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: http://eepurl.com/cHxJ39 Mining Stock Education (MSE) offers informational content based on available data but it does not constitute investment, tax, or legal advice. It may not be appropriate for all situations or objectives. Readers and listeners should seek professional advice, make independent investigations and assessments before investing. MSE does not guarantee the accuracy or completeness of its content and should not be solely relied upon for investment decisions. MSE and its owner may hold financial interests in the companies discussed and can trade such securities without notice. MSE is biased towards its advertising sponsors which make this platform possible. MSE is not liable for representations, warranties, or omissions in its content. By accessing MSE content, users agree that MSE and its affiliates bear no liability related to the information provided or the investment decisions you make. Full disclaimer: https://www.miningstockeducation.com/disclaimer/

Compass, episode 15Our previous episode: https://www.cruxinvestor.com/posts/exploration-financing-and-consolidation-fuel-mining-sector-optimismRecording date: 14th May 2025Recent developments in the mining sector show increasing M&A activity alongside robust Q1 performance, according to Olive Resource Capital executives Samuel Pelaez and Derek Macpherson.Pan-American Silver's $2.1 billion acquisition of MAG Silver represents a modest 27% premium but trades at approximately 16-17 times earnings compared to Pan-American's 12 times multiple. The executives indicated they've increased their MAG position following the announcement, speculating that Fresnillo—MAG's joint venture partner at the Juanicipio mine—could potentially make a competing offer given their $1.3 billion cash position.In another consolidation move, Silver47 and Summa Silver are merging in what the executives describe as a "creative transaction" that will create better scale and improve access to passive fund flows, with year-round exploration capabilities.Q1 reporting from major gold producers shows strong cash generation, with gold prices increasing approximately 12% from Q1 to Q2. This price improvement could translate to 30-35% growth in free cash flow for efficient operators.The executives highlighted AngloGold Ashanti as potentially undervalued, producing 720,000 ounces in Q1 with all-in sustaining costs of $1,640 per ounce. Despite generating roughly 30-50% less free cash flow than Agnico Eagle, AngloGold has only about half the market capitalization.K92 Mining was singled out as an exceptional growth opportunity, with funded expansion plans to increase production from 180,000 to approximately 400,000 gold equivalent ounces annually. At its current $2 billion market cap, K92 could potentially generate a 35% cash flow yield once Phase 4 is complete.The executives emphasize free cash flow (CFO + CFI) as the most reliable metric for evaluating mining companies, providing investors with a framework for analyzing companies in the current environment of elevated metal prices.Sign up for Crux Investor: https://cruxinvestor.com

Interview withMichael Walshe, Managing Director & CEO of MTM Critical MetalsSteve Ragiel, President of Flash Metals USAOur previous interview: https://www.cruxinvestor.com/posts/mtm-critical-metals-asxmtm-revolutionary-tech-could-supply-us-critical-gallium-needs-by-2025-6590Recording date: 15th May 2025MTM Critical Metals (ASX:MTM) has positioned itself for near-term production with several significant developments that strengthen its investment case. The company has secured a pre-permitted brownfield site in Texas's industrial corridor that bypasses lengthy regulatory processes, enabling commercial production by the end of 2025. This 20,000-square-foot facility of 40-foot ceilings provides immediate operational capacity and room for expansion."We have a very rapidly deployable technology. We can be running here in 8 months. And that compares favorably with mines and other refineries that will take 3-5 years," noted Steve Rio, President of U.S. Operations, highlighting a key competitive advantage that has garnered strong government interest.MTM's proprietary flash heating technology combines electrical-based energy with specialized chemistry to recover high-value metals like gallium and germanium from electronic waste and production scrap. The process is approximately 90% more energy efficient than conventional smelting techniques and allows for selective recovery of specific metals with over 90% purity.The company has established a robust commercial foundation with long-term supply agreements for electronic waste that include penalties for non-supply—a crucial provision that underpins their economic model. Similar agreements for gallium and germanium processing are being finalized with minimum floor prices to protect against market manipulation.MTM's dual business model includes a build-own-operate approach for high-value materials and a warranty-based licensing system for mineral processing applications. This strategy allows them to focus capital on high-margin opportunities while generating additional revenue streams. Recent meetings in Washington DC have yielded strong support from congressional representatives, with officials requesting MTM identify additional sites across different U.S. regions to establish geographic diversity in domestic metal recovery capabilities.For investors, MTM represents an opportunity to gain exposure to critical minerals with a faster path to revenue than traditional mining operations. The company's protected supply chain, energy-efficient technology, and alignment with national security priorities create a compelling investment case in a sector of growing strategic importance. The year-end commissioning target serves as a key milestone that could validate their innovative approach and potentially catalyze significant value creation.View MTM Critical Metals' company profile: https://www.cruxinvestor.com/companies/mtm-critical-metalsSign up for Crux Investor: https://cruxinvestor.com

Interview with Malcolm Dorsey, President & CEO of Torr Metals Inc.Recording date: 13th May 2025Torr Metals (TSXV:TMET) is a Canadian exploration company preparing for its maiden drill program at the Kolos Project in southern British Columbia—a road-accessible copper-gold porphyry target located near major producing mines like New Afton and Highland Valley. With strong early indicators including high-grade surface samples and a 1,300m x 800m geophysical anomaly at the Bertha Zone, Torr is targeting up to 3,000 meters of drilling in 2025.The Kolos Project benefits from exceptional infrastructure: it lies along Highway 5, 30 minutes from a lab in Kamloops, and requires no seasonal camp. This accessibility dramatically reduces costs and supports fast assay turnaround. CEO Malcolm Dorsey emphasizes that Kolos exhibits “a very large zone of hydrothermal alteration and mineralization,” consistent with porphyry systems sought by major miners.Torr's land position is strategically located within a competitive mining district. Majors like Teck, New Gold, Hudbay, Fortescue, and Boliden have recently staked nearby, signaling rising interest in the area. With New Afton and Highland Valley approaching end-of-life within 6–15 years, a discovery at Kolos could serve as a future feedstock source for local mills.Beyond Kolos, Torr offers exploration optionality with two additional projects: the Filion Gold Project in Ontario, featuring high-grade historic samples, and the Latham copper-gold project in northern BC, both aligned with the company's low-cost, highway-accessible strategy.With just 42 million shares outstanding, a ~$6M market cap, and 25% insider ownership, Torr Metals provides investors with high-leverage exposure to copper-gold discovery. As electrification drives long-term copper demand and supply tightens, Torr is positioned as an emerging junior in a region that majors are watching closely.Sign up for Crux Investor: https://cruxinvestor.com

Interview with Kevin Smith, Non-Executive Director of Iris Metals Ltd.Recording date: 15th May 2025Iris Metals (ASX:IR1) presents a distinctive investment proposition in the lithium sector, focusing on speed-to-market in the United States through brownfield restart projects in South Dakota. Unlike many peers that require years of development and massive capital expenditure, Iris is advancing a permitted portfolio of hard rock spodumene assets with potential production by the end of 2026."This isn't your traditional dynamic of what you think of in a Western Australian style spodumene project where we're going to go drill for three or four years, build a huge resource, then raise a billion dollars off an FID and go build it," explains Kevin Smith, Non-Executive Director of Iris Metals. "We have a quick path to production by leveraging the operations that are already there."The company's strategic advantages begin with location. In a US market that currently imports 100% of its lithium requirements, Iris controls previously producing mines that operated during the Cold War era. These assets are already licensed and permitted, potentially eliminating years of regulatory hurdles that typically delay new mining projects.Iris employs a "hub and spoke" model centered around three primary project areas: Beecher (which already has a resource statement), Tin Mountain, and Edison. All three sites are currently being drilled, with updated resource estimates expected by fall 2025 to support a final investment decision.The US political landscape creates additional tailwinds. Recent tariffs on lithium imports, even from traditional allies like Canada, provide market protection for domestic producers. Combined with production tax credits, these policies create a protected ecosystem for US lithium development.From a technological standpoint, Iris avoids the risks associated with novel extraction methods by focusing on conventional hard rock mining – a proven approach widely used in established lithium producing regions. "We don't have to prove up a process flowsheet like the DLE guys," notes Smith. "We're going to use technology that's tried and proven in Western Australia and other places."The company claims several advantages that could contribute to a competitive cost structure, including very low strip ratios (potentially as low as 1:1), existing infrastructure, and proximity to workforce and services. These factors lead Iris to believe it can operate in "the bottom quartile of the cost curve" globally.Beyond mining, Iris has demonstrated the ability to produce battery-grade lithium compounds domestically through partnership with Indiana-based Reelement. Initial trials have reportedly produced 99.5% pure lithium carbonate – potentially enabling a complete US supply chain without sending material overseas for processing.For investors, upcoming catalysts include results from ongoing drill programs, trial mining activities to verify cost parameters, detailed engineering studies, and a potential OTC listing to improve accessibility for North American investors. The timeline to potential production appears relatively short compared to many lithium development peers, potentially offering a faster path to cash flow in a strategic jurisdiction.View Iris Metals' company profile: https://www.cruxinvestor.com/companies/iris-metals-limitedSign up for Crux Investor: https://cruxinvestor.com

Interview with Niël Pretorius, CEO of DRDGOLD Ltd.Our previous interview: https://www.cruxinvestor.com/posts/sustainable-gold-silver-producers-showcase-new-value-creation-model-6117Recording date: 13th May 2025DRDGOLD Limited (NYSE:DRD) has established a distinctive position in the gold mining industry with its innovative approach of recovering gold from historical mine tailings rather than conventional underground mining. This South African producer combines environmental remediation with profitable gold production in a waste-neutral business model that's proving particularly effective in today's strong gold market.Under CEO Niël Pretorius's leadership, DRDGOLD is executing a major infrastructure investment program to extend the operational life of its assets through 2040. The company recently completed a 60 MW solar power facility and is implementing a 180 MW battery energy storage system, addressing previous power challenges. Additional investments include new tailings storage facilities and expanded processing capacity at both its Ergo and Far West Gold Recoveries (FWGR) operations.What stands out about DRDGOLD's growth strategy is that it remains entirely self-funded. Strong gold prices have driven record performance, allowing the company to maintain its 18-year dividend streak while simultaneously funding its capital expansion program without external financing. By FY2028, DRDGOLD targets a combined processing throughput of 3 million tonnes per month and annual gold production of approximately 200,000 ounces.The company's ESG credentials are compelling. Rather than generating new mining waste, DRDGOLD processes legacy tailings and deposits them into modern facilities with superior environmental standards. This approach enables concurrent rehabilitation of mining sites and reduces final closure costs.DRDGOLD's business model offers several advantages over traditional mining operations. With approximately 5.5 million ounces of gold resources already above ground in tailings, the company faces minimal geological risk. Its engineering-focused approach emphasizes processing efficiency and consistent output, functioning almost like a gold-processing factory.The company maintains a no-hedging policy, providing investors with full exposure to gold price increases. This strategy aligns with broader macroeconomic trends supporting gold, including geopolitical tensions, inflation concerns, and growing interest in hard assets.DRDGOLD also prioritizes organizational continuity and talent development, with nearly half its workforce now comprising women and a new generation of young professionals advancing through the ranks. This stable management team and strong corporate culture support the company's long-term vision of optimized resource recovery coupled with responsible environmental stewardship.View DRDGOLD's company profile: https://www.cruxinvestor.com/companies/drdgold-limitedSign up for Crux Investor: https://cruxinvestor.com

Interview with Rory Quinn, President & CEO of Yukon MetalsRecording date: 12th May 2025Yukon Metals Corp. (CSE: YMC) is an emerging mineral exploration company advancing a trio of high-priority projects in Canada's Yukon Territory—Star River, AZ, and Birch. Backed by ~$17 million in cash and the support of industry veterans including the Berdahl family (founders of Snowline Gold) and Keith Neumeyer, Yukon Metals is targeting transformative discoveries in 2025.Formed in 2024 from a private portfolio of 17 properties built over two decades, Yukon Metals is led by CEO Rory Quinn, a former Wheaton Precious Metals executive. The company has strategically narrowed its focus to three core assets based on grade potential, accessibility, and geological indicators. These projects benefit from proximity to year-round infrastructure, giving the company a cost and logistics edge in a traditionally challenging region.Star River is Yukon's flagship, offering surface samples with up to 11,000 g/t silver and 101 g/t gold, supported by overlapping geophysical anomalies suggestive of a large carbonate replacement system. AZ is a copper-gold target with a 1.2 km gossan zone and trenching results up to 10.3% Cu, while Birch hosts geochemical signatures of an intact porphyry system near the Casino district.The company plans to drill 9,000 meters across all three projects in 2025, with initial results from Star River expected to serve as the key catalyst. Supported by disciplined capital allocation, minimal holding costs on its wider property portfolio, and strong shareholder alignment, Yukon Metals is well-positioned to make a meaningful discovery in a resurgent exploration environment.In a macro climate where secure, high-grade metal sources are increasingly prized, Yukon Metals' infrastructure-accessible, high-potential assets offer compelling exposure to gold, silver, and copper in one of Canada's most promising jurisdictions.View Yukon Metals' company profile: https://www.cruxinvestor.com/companies/yukon-metalsSign up for Crux Investor: https://cruxinvestor.com

Interview with Mark Selby, CEO of Canada NickelOur previous interview: https://www.cruxinvestor.com/posts/canada-nickel-tsxvcnc-crawford-project-advances-with-feed-completion-eyes-2025-construction-6791Recording date: 13th May 2025Canada Nickel Corporation (TSX: CNC) presents a compelling investment opportunity as it advances North America's most promising nickel project in the face of unprecedented government support and institutional capital returning to the mining sector. CEO Mark Selby's leadership has positioned the company to capitalize on what he describes as "the world's largest nickel sulfide district" in Timmins, Ontario, with the flagship Crawford project now approaching a construction decision after completing its FEED study and progressing through permitting.The company's innovative financing strategy has set it apart during challenging capital markets, executing its fourth successful bridge financing arrangement to avoid dilutive equity raises while maintaining project momentum. Recent financing totaling $39-40 million, including a groundbreaking partnership with TTN First Nation, demonstrates management's ability to access capital through non-traditional channels. This approach recognizes the fundamental shift in mining finance, where actively managed funds have "shrunk very dramatically over the last 15 years" and become concentrated in gold, copper, and silver.Political tailwinds have never been stronger for critical mineral projects in North America. The Trump administration's supply chain security focus, combined with Canada's new government under Carney promising to accelerate critical mineral development, creates multiple funding pathways for projects like Crawford. The Canadian government has established numerous funding programs worth billions, though deployment has been slow until now. With both governments prioritizing critical mineral security and upcoming USMCA renegotiations, Canada Nickel is positioned to benefit from what Selby describes as "monster bold steps forward" in government support.Unlike many nickel companies dependent solely on the EV market, Canada Nickel has strategically designed its operations for market flexibility. The company can direct 100% of production to the stainless steel and alloy markets, which continue to show strong growth (China's 300 series stainless production up 12% year-over-year), while maintaining optionality for EV sales through its Samsung SDI offtake agreement. This diversification provides crucial revenue stability as some automotive manufacturers, including Honda, reassess their EV timelines.Perhaps most significantly for near-term share price performance, generalist institutional investors are returning to mining after a decade-long absence. Selby reports that recent conferences included multiple meetings with generalist funds, representing a fundamental shift from resource-only investors. These funds see relative value in a sector trading at "5 and 10% of NPV" compared to broader markets at high multiples. When generalist capital moves from "0.05% of assets to 0.1% to 0.25%," it creates what Selby describes as "a tidal wave of capital."The company has outlined a comprehensive $3 billion funding package with multiple committed sources including $500 million from Export Development Canada, $600 million in refundable tax credits, $100 million from Samsung, and additional potential funding from European agencies and Canadian government programs. With permitting on track for year-end completion and detailed engineering advancing, Canada Nickel is positioned to make its final investment decision and benefit from first-mover advantage in one of the world's most promising nickel districts.For investors, Canada Nickel represents exposure to critical mineral supply chain security, innovative financing structures, and the convergence of government support with returning institutional interest—all while maintaining operational flexibility that provides downside protection in volatile markets.—View Canada Nickel's company profile: https://www.cruxinvestor.com/companies/canada-nickelSign up for Crux Investor: https://cruxinvestor.com

Interview with David Londoño, President & CEO of Mineros SAOur previous interview: https://www.cruxinvestor.com/posts/mineros-sa-tsxmsa-leading-gold-producer-in-colombia-with-growth-plan-towards-400000-ozyr-6250Recording date: 12th May 2025Mineros SA (TSX: MSA), a Latin America-focused gold producer, is charting a path of disciplined expansion under newly appointed CEO David Londoño, a Colombian mining engineer with over 30 years of industry experience. With operations in Colombia and Nicaragua, the company produces gold through low-cost dredging and underground mining methods, generating $160 million in annual revenue and maintaining a strong cash balance of $81 million. It also rewards shareholders with a stable 10-cent annual dividend.In Colombia, Mineros uses an environmentally friendly dredging process powered by hydroelectric energy, which allows for simultaneous gold recovery and land reclamation. In Nicaragua, operations are set to expand following the approval of a new mine at Porvenir, which could boost regional output by 50,000–60,000 ounces annually.A hallmark of Mineros' strategy is its integration of artisanal miners into the supply chain—an initiative that supports local communities while enhancing the grade of processed ore. With this social license and local expertise, the company is evaluating acquisitions across Latin America, targeting 70,000 to 130,000-ounce-per-year assets that complement its current footprint.Londoño is focused on margin discipline and performance. “We don't control the price, but we control the costs and our performance,” he stated. With improved market visibility and a rising share price, Mineros is positioning itself as a cost-effective, socially conscious, and dividend-paying gold producer with room to grow. The company's strategic focus on value-driven expansion and operational excellence highlights its potential as a standout mid-tier player in the Latin American gold sector.View Mineros SA's company profile: https://www.cruxinvestor.com/companies/mineros-saSign up for Crux Investor: https://cruxinvestor.com

Interview with Ian Harris, President & CEO of Outcrop Silver & Gold Corp.Our previous interview: https://www.cruxinvestor.com/posts/outcrop-silver-tsxvocg-why-eric-sprott-holds-199-of-this-high-grade-silver-opportunity-6786Recording date: 12th May 2025Outcrop Silver & Gold (TSXV: OCG) is advancing one of the highest-grade primary silver projects globally, with CEO Ian Harris leading a disciplined approach to resource expansion and valuation growth.The company currently holds 37 million ounces of silver and aims to reach at least 60 million ounces in the near term, with ambitions to exceed 100 million ounces within the next 18-24 months. This expansion is supported by a fully-funded $12 million drill program, which has already delivered promising results including intercepts of "20 meters at 992 grams per tonne silver."Harris emphasizes a strategic approach that decouples valuation from volatile silver prices, focusing instead on creating measurable returns through resource expansion for every dollar invested. This disciplined stance aims to mitigate dilution risks while ensuring consistent growth regardless of market fluctuations.The company is pursuing a "starter-scale" development strategy, planning a smaller initial operation to reduce capital requirements and accelerate cash flow generation. This approach mirrors successful models in the gold sector, providing a more accessible pathway to production in today's challenging financial environment.The broader macroeconomic backdrop offers supporting factors for silver demand, including global debt accumulation and shifts away from the US dollar toward alternative assets. These trends potentially strengthen the fundamental case for silver investments over the medium-to-long term.In the current M&A landscape, Harris notes that acquisitions primarily reward producing assets rather than exploration-stage projects, underlining Outcrop's strategy to advance quickly toward initial production to enhance its strategic appeal.With strong exploration results underpinning near-term valuation catalysts and a clear pathway to growth, Outcrop Silver & Gold represents a disciplined approach to silver resource development in a market increasingly favorable to precious metals investments.View Outcrop Silver & Gold's company profile: https://www.cruxinvestor.com/companies/outcrop-silver-goldSign up for Crux Investor: https://cruxinvestor.com

Interview with Juan Garcia Valledor, GM Spain of Pan Global Resources Inc.Our previous interview: https://www.cruxinvestor.com/posts/pan-global-resources-tsxvpgz-poised-to-thrive-in-the-coming-copper-boom-6794Recording date: 13th May 2025Pan Global Resources (TSXV: PGZ) is making significant progress on its copper, tin, and gold exploration portfolio across Spain. Led by an experienced mine-building team, the company is advancing multiple promising projects with a clear development roadmap.The flagship La Romana deposit continues to expand, now extending 1.7 km in strike length with consistent copper and tin mineralization. With nearly 190 drill holes completed, Pan Global is approaching a maiden resource estimation expected in 2025, followed by a Preliminary Economic Assessment in 2026. Company leadership is confident that "La Romana is clearly in the way to be a mine."Recent drilling at La Pantoja, 500 meters west of La Romana, intersected high-grade copper (1.5%) and tin (0.1%), potentially extending the resource footprint. Meanwhile, exploration at the northern Cármenes and Profunda projects has revealed impressive gold values exceeding 3g/t over 37 meters and copper samples grading over 5%.Pan Global's strategic advantage comes from its location in Andalusia, one of Europe's most mining-friendly jurisdictions with supportive local communities and administration. The Spanish government is developing a new mining exploration framework, with Pan Global contributing to the process.The company's approach differs from typical grassroots explorers, with a management team that includes multiple mining engineers preparing for development phases. Environmental and social groundwork is already underway, reflecting the company's commitment to responsible practices.With 7,000 meters of drilling planned for 2025 and multiple high-potential targets within trucking distance of each other, Pan Global envisions potentially consolidating several deposits into a standalone mining operation, with alternative options including toll milling at nearby facilities.As Europe seeks secure sources of critical minerals for electrification and decarbonization, Pan Global's multi-metal portfolio in an EU-aligned jurisdiction offers a compelling investment case amid structural supply constraints for copper and increasing demand for tin in technology applications.View Pan Global Resources' company profile: https://www.cruxinvestor.com/companies/pan-global-resourcesSign up for Crux Investor: https://cruxinvestor.com

Interview with Hayden Locke, President & CEO of Marimaca CopperOur previous interview: https://www.cruxinvestor.com/posts/marimaca-copper-tsxmari-de-risked-chilean-copper-developer-on-the-fast-track-to-production-6720Recording date: 12th May 2025Marimaca Copper is making substantial progress on two fronts in northern Chile's prolific copper belt. The company is finalizing the Definitive Feasibility Study (DFS) for its flagship Marimaca oxide project while simultaneously uncovering exciting exploration results at the nearby Pampa Medina project.Recent drilling at Pampa Medina has revealed a potentially transformative discovery with two stacked manttos (horizontal ore bodies) showing different styles of mineralization. The upper zone intersected approximately 80 meters at over 1.2% copper, including a higher-grade section exceeding 20 meters at roughly 2.5%. More significantly, deeper drilling encountered substantial visual bornite and chalcopyrite mineralization in the lower 300 meters, with assays pending."We now think that Pampa Medina has the potential to nearly double in size if there's continuous mineralization between the current Pampa Medina manto horizon out to the Pampa Medina Norte extension," explained Hayden Lock, President and CEO of Marimaca Copper. This expansion could substantially increase the strike length of the deposit. The mineralization bears similarities to Antofagasta's Cachuro discovery, which boasts a resource exceeding 300 million tons at over 1% copper.Marimaca is pursuing a pragmatic hub-and-spoke development strategy, with the flagship Marimaca oxide project serving as the central processing facility for multiple satellite deposits, including Pampa Medina and Madrugador. This approach aims to maximize capital efficiency while providing a clear path to significant production scale.The exploration success could significantly enhance the company's production profile. Current development plans target approximately 50,000 tons of copper annually from the Marimaca oxide project. However, integrating the satellite deposits could increase production to 70,000-75,000 tons, which would make Marimaca Copper the sixth largest copper project on the ASX according to Lock.Internal assessments suggest Madrugador and Pampa Medina together could contribute 20,000-25,000 tons annually for 13-14 years, even without additional exploration success. The company has commissioned an integration study from Stantec to validate the economic benefits of incorporating these satellite deposits into the development plan.Initial metallurgical indications for the Pampa Medina oxide material are encouraging, with data suggesting high acid solubility and potentially better recoveries than at the flagship Marimaca project. The company is balancing aggressive exploration ambitions with pragmatic capital management, focusing immediate drilling efforts on connecting the Pampa Medina Norte extension with the main deposit while conducting select deeper holes to test sulfide potential.For investors, Marimaca offers exposure to a copper development story with multiple near-term catalysts, including the completion of the DFS for the flagship project, pending assay results from deep drilling, and the integration study results. The company's advancing development timeline coincides with a period of favorable copper market fundamentals, characterized by accelerating demand and constrained supply growth.Marimaca's progress toward production, combined with its expanding resource potential, positions it as an increasingly significant player in the copper development landscape.Learn more: https://cruxinvestor.com/companies/marimaca-copperSign up for Crux Investor: https://cruxinvestor.com

Interview with Mark Major, CEO of Krakatoa Resources Ltd.Our previous interview: https://www.cruxinvestor.com/posts/krakatoa-resources-kta-hopeful-gold-explorer-next-to-australias-largest-gold-mine-323Recording date: 13th May 2025Krakatoa Resources (ASX:KTA) is rapidly advancing its Zopkhito antimony-gold project in Georgia, targeting a JORC-compliant resource by early 2026. With antimony increasingly recognized as a critical mineral due to its importance in defense, renewable energy, and industrial sectors—and global supply dominated by China, Russia, and Tajikistan—Krakatoa's project has drawn investor attention for its strategic potential and high grades.Originally explored by Soviet geologists, Zopkhito boasts historical grades averaging 11.6% antimony—far above the global average of around 1.3%. CEO Mark Major emphasized the urgency of diversifying antimony supply, noting, "It is not a recyclable element—you use it, you lose it." Krakatoa aims to leverage this exceptional grade and decades of existing data to fast-track validation through a 7,000–10,000 meter drill campaign beginning mid-2025, with JORC-compliant results expected by Q1 2026.The company plans to raise AUD 2 million, focusing on long-term investors aligned with its vision of transitioning from confirmation to early-stage production within two years. A small-scale antimony concentrate operation is being considered to capitalize on near-term price strength, with gold offering longer-term upside.Georgia's supportive mining laws and existing permits at Zopkhito present a significant regulatory advantage. Krakatoa's strategy—centered on high-grade mineralization, reduced exploration risk, and early cash flow—positions it as a compelling entry point into the critical minerals market. As global powers seek secure antimony supply chains, Krakatoa's Western-aligned, high-grade asset offers both strategic relevance and economic promise.View Krakatoa Resources' company profile: https://www.cruxinvestor.com/companies/krakatoa-resourcesSign up for Crux Investor: https://cruxinvestor.com

Interview with Paul Andre Huet, CEO, and Oliver Turner, Corporate Development of Americas Gold & SilverOur previous interview: https://www.cruxinvestor.com/posts/americas-gold-silver-eric-sprotts-silver-camp-reboot-6965Recording date: 12th May 2025Americas Gold & Silver (TSX:USA) is experiencing a dramatic transformation under new leadership, positioning itself as a premier turnaround opportunity in an increasingly consolidated silver sector. Since December 2024, CEO Paul Huet and his management team have implemented strategic reforms that have already attracted significant institutional interest.The company's institutional ownership has surged from just 8% to 58% in under six months, reflecting growing investor confidence in the new direction. This dramatic shift coincides with the company's recent addition to the SIL index, providing automatic exposure to major funds like BlackRock and T. Rowe Price, with GDXJ inclusion targeted for September 2025.At the heart of this revival is the historic Galena Complex in Idaho, which once produced 5 million ounces of silver annually but has averaged only 1.3 million ounces over the past decade. Management is implementing modern mining methods, including reintroducing long hole stoping for the first time in ten years, aimed at restoring production to previous peak levels.Recent drilling results have reinforced this optimism, with a newly discovered "34 Vein" returning impressive grades of 983 g/t silver over 3.4 meters. To capitalize on these opportunities, the company is pursuing debt financing for critical infrastructure improvements, including a pastefill plant, remote control equipment, and shaft upgrades to more than double hourly capacity.The investment thesis is further strengthened by the dwindling number of pure-play silver producers available to investors. Following recent acquisitions like Pan American's $2.1 billion purchase of Mag Silver at 1.6x NAV, fewer than 10 significant silver-focused companies remain, creating potential scarcity value.Huet, who previously led a successful turnaround at Kurora where production increased fivefold, has personally invested significantly alongside other executives. The team emphasizes that Americas Gold & Silver offers both operational improvement potential and leverage to silver prices, which they believe could reach $35-40 per ounce.With a 100-day track record showing tangible operational improvements and strong technical progress underground, the company is executing a proven playbook in a sector where consolidation continues to reduce investment options, making Americas Gold & Silver an increasingly rare opportunity in the silver mining space.View Americas Gold and Silver's company profile: https://www.cruxinvestor.com/companies/americas-gold-silver-corporationSign up for Crux Investor: https://cruxinvestor.com

Interview with George Salamis, President & CEO of Integra Resources Corp.Our previous interview: https://www.cruxinvestor.com/posts/integra-resources-tsxvitr-strong-q1-gold-production-61m-cash-position-7023Recording date: 8th May 2025Integra Resources is transforming from a development company into a U.S.-based gold producer following its acquisition of Nevada's Florida Canyon mine in late 2024. The company now balances a producing asset with two development-stage projects, including its flagship Delamar project in Idaho.At Florida Canyon, Integra has launched a strategic 10,000-meter drill program targeting mine life extension. The campaign focuses on previously underexplored areas including historical mine dumps, zones between existing pits, and lateral extensions. CEO George Salamis describes these targets as "low-hanging fruit" with potential to consolidate multiple smaller pits into larger operations.A key advantage in Integra's approach is self-funding exploration through operational cash flow from Florida Canyon, reducing dependency on capital markets and avoiding shareholder dilution. This financial independence allows the company to execute multi-phase exploration without needing additional equity raises.The current gold price environment creates opportunities to reprocess previously uneconomic low-grade material that was mined when gold traded at $1,000-$1,200 per ounce. Salamis believes the updated resource estimate expected by early 2026 could extend mine life from six to potentially eight or nine years.Beyond immediate operations, Integra controls a highly prospective 10-kilometer trend and plans to begin regional drilling in late 2025, synthesizing decades of historical data with expert input from former exploration managers.The company is benefiting from a favorable U.S. policy environment that increasingly views domestic gold production as strategically important. Salamis reports unprecedented regulatory support, with officials suggesting ways to accelerate permitting from "five to seven years" down to "a year or two."This dual approach of extending existing operations while exploring regional potential positions Integra to appeal to both production-focused investors seeking cash flow and margins, and exploration-oriented shareholders looking for discovery upside in a supportive regulatory environment.View Integra Resources' company profile: https://www.cruxinvestor.com/companies/integra-resourcesSign 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-team-pursues-new-gold-discoveries-in-guyana-6280Recording date: 8th May 2025Greenheart Gold is an emerging gold explorer focused on early-stage discovery in the Guiana Shield, spanning Guyana and Suriname. Formed as a spin-out from Reunion Gold and G-Mine Adventures, the company is led by CEO Justin van der Toorn and staffed by a proven technical team from Reunion. Greenheart pursues a rigorous, data-driven strategy—advancing only those targets with clear signs of mineralization while rapidly dropping underperformers.The company is actively exploring five projects, including Majorodam and Igab in Suriname, and Tamakay, Abuya, and Tosso Creek in Guyana. At Majorodam, early RC drilling yielded standout intercepts such as 6m at 8–9 g/t Au and 30m at 2 g/t Au. The site's favorable access and geological setting prompted the team to move quickly from soil sampling to drilling, bypassing traditional trenching due to surface conditions. At Igab, located near Newmont's Merian mine, widespread anomalies and visible gold suggest a high-potential discovery zone.In Guyana, the company has shown discipline by reducing its footprint at Tamakay after inconclusive geochemical results, while continuing focused work in historically mined zones. At Tosso Creek, early soil anomalies and structural indicators have positioned the project for a LIDAR survey and follow-up drilling in 2025.Greenheart's outsourced data management ensures QA/QC integrity, reinforcing confidence in its exploration process. With strong financial backing, road-accessible projects, and proximity to major operations, Greenheart is well-positioned to deliver meaningful results in a region known for untapped gold potential. For investors seeking early-stage leverage to discovery in one of the world's most prospective gold terrains, Greenheart Gold offers a disciplined and technically robust platform for growth.View Greenheart Gold's company profile: https://www.cruxinvestor.com/companies/greenheart-goldSign up for Crux Investor: https://cruxinvestor.com

Interview with Gwen Preston, VP Communications of West Red Lake Gold Mines Ltd.Our previous interview: https://www.cruxinvestor.com/posts/actual-gold-mine-builders-discussing-the-reality-vs-theory-of-getting-into-economic-production-7040Recording date: 7th May 2025West Red Lake Gold Mines (TSXV: WRLG) is poised to restart production at its flagship Madsen gold mine in Red Lake, Ontario by mid-2025. After a comprehensive two-year turnaround effort, the company has successfully validated its mining plan through a 15,000-tonne bulk sample that closely matched predicted grades and tonnage.Mining operations are already underway with stockpiles being accumulated to ensure a smooth production launch. The company plans to begin at 600 tonnes per day, ramping up to 800 tonnes per day by the end of 2025, with future expansion potential given the mill's 1,100 tonne per day capacity.The bulk sample generated over $8 million USD in revenue while confirming the accuracy of the company's geological model. This success comes after WRLG completed 90,000 meters of definition drilling since 2023, addressing issues that led to the mine's previous operational failure under different ownership.Current elevated gold prices, now significantly higher than the $1,680/oz used in previous planning, have allowed the company to expand stope sizes and reduce cut-off constraints. This improved economics has shifted mining preferences toward more cost-efficient long-hole stoping methods.The project boasts strong metallurgical performance with 95% gold recovery rates and competent host rocks that reduce geotechnical risks. Regular updates, including drill results every six weeks, are planned as the company progresses toward full production.West Red Lake Gold Mines represents an attractive investment opportunity as a near-term producer with a validated resource model, strong gold price tailwinds, low technical risk, scalable infrastructure, visible cash flow, and compelling valuation. The company is strategically positioned to deliver ounces into a favorable gold price environment while competitors face capital constraints and project delays.View West Red Lake Gold Mines' company profile: https://www.cruxinvestor.com/companies/west-red-lake-gold-mines-incSign up for Crux Investor: https://cruxinvestor.com

Interview with Ian Cockerill, CEO of Endeavour Mining PLCOur previous interview: https://www.cruxinvestor.com/posts/endeavour-mining-tsxedv-expanding-margins-and-quality-growth-4531Recording date: 7th May 2025Endeavour Mining, one of West Africa's premier gold producers, is reporting exceptional performance under CEO Ian Cockerill, who took the helm in January 2024. The company generated $411 million in free cash flow in Q1 2025, marking its fifth consecutive quarter of improved results.Cockerill has implemented a streamlined "4E" strategy—Employees, Excellence, Exploration, and Expansion—focusing on operational efficiency and disciplined cost management. Despite industry-wide inflation, Endeavour has maintained stable costs over six quarters through initiatives like centralized procurement.The company offers investors a rare combination of high yield and substantial growth potential. With a dividend yield of approximately 6% and planned production growth of 30-35% by 2030, Endeavour appeals to both income-focused and growth-oriented investors. In 2024, the company returned $277 million to shareholders and has already guaranteed a $225 million dividend for 2025, with additional share buybacks expected.Driving Endeavour's growth strategy is the Assafou project in Côte d'Ivoire, described as "the best discovery in West Africa over the last decade." This tier-one asset holds 4.3 million ounces in reserves with a 15-year mine life and is expected to produce over 350,000 ounces annually at an all-in sustaining cost below $1,000 per ounce.Exploration remains central to the company's approach, having discovered nearly 20 million ounces in the past eight years at under $25 per ounce. Current production stands at approximately 1.2 million ounces annually from five mines across three West African jurisdictions, with plans to reach 1.5 million ounces per year by 2030.While acknowledging perceived risks in West Africa, Cockerill emphasizes Endeavour's long-standing local relationships and operational stability. The company's valuation gap has been narrowing since Q4 2024 as market confidence grows in both its current performance and future prospects.View Endeavour Mining's company profile: https://www.cruxinvestor.com/companies/endeavour-miningSign up for Crux Investor: https://cruxinvestor.com

Interview withHayden Locke, President & CEO of Marimaca Copper Corp.Hugh Agro, President & CEO of Revival Gold Inc.Recording date: 7th May 2025Despite gold trading at record highs above $3,000 per ounce, development-stage gold companies are taking a notably disciplined approach to project advancement. Companies like Revival Gold and Marimaca Copper are adopting phased, low-capital expenditure models that prioritize financial prudence over aggressive expansion.This strategic shift represents a departure from the previous cycle's "build it big, sell it later" mentality that often led to project failures when funding disappeared or buyers never materialized. Instead, these companies are embracing the Australian model of bootstrapping manageable, lower-risk development stages that generate cash flow earlier.Revival Gold's Beartrack-Arnett project exemplifies this approach, beginning with a heap-leach operation that allows for production with minimal capital intensity while maintaining expansion potential. Similarly, Marimaca Copper is right-sizing its Chilean copper oxide project to match realistic financing capabilities rather than pursuing billion-dollar developments.Despite current gold prices, most producers continue modeling reserves at conservative $1,400-$1,500 levels, showing industry-wide reluctance to assume high prices will persist. This discipline has contributed to a limited supply response, potentially supporting continued price strength.In today's challenging financing environment, these companies are securing capital through strategic partnerships with aligned investors rather than relying solely on public equity markets or high-cost financing structures. Revival Gold and Marimaca have partnered with long-term backers like Greenstone and Dundee Corporation, respectively.For investors, the opportunity lies in identifying gold developers with experienced management teams, capital discipline, thoughtful project scaling, and aligned strategic investors. As gold maintains its role as a store of value amid economic uncertainty, development-stage companies with credible paths to production offer exposure to the next generation of gold supply with significant potential for value creation—provided they maintain their disciplined approach to development and financing.Sign up for Crux Investor: https://cruxinvestor.com

Compass, episode 14Our previous interview: https://www.cruxinvestor.com/posts/gold-stocks-show-strong-growth-as-markets-pause-7048Recording date: 6th May 2025Olive Resource Capital has reported a strong start to 2025, achieving a net portfolio gain of approximately 23–24% through April. The performance is attributed to significant gains in key gold and copper holdings, with standout contributions from Omai Gold Mines and Troilus Gold, both of which have nearly doubled in value. Arizona Sonoran, a copper-focused investment, also added to the momentum with a 30% gain, supported by rising investor interest and developments such as Hudbay's strategic involvement.The firm maintains over 50% of its portfolio in precious metals, favoring advanced-stage assets with clear paths to production or acquisition. Their investment strategy distinguishes between two categories: fundamental holdings, like Omai and Arizona Sonoran, which are held based on valuation and long-term potential; and liquid positions, consisting of larger-cap gold equities that can be adjusted in response to market conditions.A significant portion of the recent episode of Compass, the firm's investor show hosted by Executive Chair Derek Mcpherson and CEO Sam Pelaez, focused on sector-wide trends—particularly consolidation and capital flows. The duo discussed Gold Fields' $2.4 billion acquisition of Gold Road Resources. While the transaction's ~$600/oz valuation appears above historical averages, they noted that the quality of the Gruyere project and the premium jurisdiction of Western Australia may justify the pricing, especially in a potentially rising gold price environment.Equally notable was the discussion around Southern Cross Consolidated's C$120M+ equity financing. As a pre-resource exploration company, such a capital raise is rare and considered a strong signal of renewed appetite for high-grade gold systems. Sunday Creek, Southern Cross's flagship asset in Victoria, has delivered encouraging exploration results and now has the funding runway for aggressive drilling over the next two years. Olive had previously held shares in Mawson Gold, Southern Cross's predecessor, and exited with a 100% return.Finally, the team highlighted Australia's increasingly dominant role in mining market activity. With major takeovers, robust fundraising, and strong equity performance across top producers, the pace of development there contrasts with a slower environment in Canada.For investors, the message is clear: the resource sector is experiencing renewed momentum. Strategic positioning in advanced-stage projects, particularly in strong jurisdictions, may offer the most resilient upside as capital re-engages with the sector.Sign up for Crux Investor: https://cruxinvestor.com

Interview with Lon Shaver, President of Silvercorp Metals and Michael Konnert, President & CEO of Vizsla Silver Corp.Recording date: 7th May 2025The silver market is experiencing its fifth consecutive year of structural deficit, creating a compelling investment case as demand continues to outpace supply. This imbalance stems from the challenges inherent in developing new silver mines—including permitting hurdles, financing difficulties, and extended development timelines—while production costs rise at roughly 8% annually.Unlike many commodities, silver benefits from dual demand drivers. Industrial usage, particularly in solar energy applications, continues to grow alongside global decarbonization efforts. Simultaneously, investment demand is rising, with the World Silver Survey projecting a 7% increase this year as investors seek alternatives amid economic uncertainty and following gold's upward trajectory.Primary silver producers like Silvercorp Metals and developers such as Vizsla Silver are capitalizing on these favorable conditions. Vizsla's Copala Panuco project in Mexico demonstrates exceptional economics with a projected payback period under six months at current prices, while Silvercorp is leveraging its cash flow from Chinese operations to construct a second project in Ecuador, slated for commissioning in late 2026.Both companies emphasize disciplined capital allocation and operational excellence. Despite having robust growth pipelines, they maintain conservative balance sheets while pursuing strategic expansions. This approach has enabled them to secure financing on favorable terms as investor sentiment shifts positively toward the sector.Geopolitical trends are increasingly favorable to mining in key jurisdictions like Mexico, Ecuador, and Canada, where governments recognize the economic benefits of resource development. Vizsla notes that its operations could eventually support up to 1,000 direct and indirect jobs, highlighting mining's contribution to local economies.While ESG considerations are less headline-grabbing than in recent years, they have become standard practice for well-managed companies. Both Silvercorp and Vizsla integrate sustainable operations and community engagement as core business functions, improving their appeal to institutional investors.Despite the favorable macro environment, silver equities have not yet fully priced in the underlying commodity dynamics, suggesting potential upside for investors. As broader capital markets reengage with the commodity sector, silver equities—offering both industrial utility and monetary potential—represent an underappreciated opportunity for investors seeking fundamentally supported long-term growth.Learn more: https://cruxinvestor.com/categories/commodities/silverhttps://cruxinvestor.com/companies/vizsla-silver-corphttps://cruxinvestor.com/companies/silvercorp-metalsSign up for Crux Investor: https://cruxinvestor.com

Interview with Justin Reid, President & CEO of Troilus Gold Corp.Our previous interview: https://www.cruxinvestor.com/posts/troilus-gold-tsxtlg-700m-debt-secured-for-quebec-gold-copper-mine-6856Recording date: 6th May 2025Troilus Gold stands at the forefront of copper-gold development in Canada, with the company making remarkable strides toward production at its flagship project in Quebec. The company has secured a game-changing $700 million US debt package backed by export credit agencies and led by SOCGEN, KFW, and Export Development Canada. This financing structure, relatively rare for junior miners, leverages Troilus Gold's strategic position as the only near-term copper concentrate producer in Eastern Canada at a time when global smelters face severe supply constraints following the closure of major operations like Cobre Panama.Recent high-grade drill results have enhanced confidence in the project's first five years of production, with CEO Justin Reid noting that "the higher grade is larger than we thought," providing greater certainty for both lenders and shareholders. The company is progressing through Quebec's permitting process with anticipated approval by mid-2026, targeting construction by early 2027. Significantly, Troilus isn't waiting for final permits, having already begun early works under existing exploration permits to de-risk the timeline and reduce future capital expenditures.The project benefits from its history as a previously producing mine with 14 years of successful operation, substantially reducing technical risk. This historical performance provides valuable data on metallurgy, processing, and geotechnical aspects that new developments typically lack. The company has assembled an exceptional leadership team, including VP Operations Andy Fortin, who worked at the original Troilus operation and built major Quebec mines including Meadowbank, and construction leader Denis Rivard, who recently completed Montreal's REM rail project on time and on budget.Troilus Gold has established strong partnerships with the Cree Nation, whose traditional territory hosts the project. With 25% of the current workforce from Cree communities and three major contracts with Cree partners already in place, the company has built a genuine relationship that goes beyond mere consultation. This partnership represents a significant advantage in a time when indigenous relationships are increasingly recognized as essential to successful mine development in Canada.From a market perspective, Troilus offers investors exposure to both copper and gold – combining industrial demand from electrification trends with monetary hedge characteristics. The company's market capitalization has grown to approximately $250 million, aligning with historical valuations of other major Quebec gold developments at similar stages. With copper fundamentals particularly strong due to global supply constraints and multiple near-term catalysts including offtake agreement finalization and environmental assessment filing, Troilus Gold presents a compelling opportunity for investors seeking exposure to critical minerals in a tier-one jurisdiction with a clear path to production.—View Troilus Gold's company profile: https://www.cruxinvestor.com/companies/troilus-goldSign up for Crux Investor: https://cruxinvestor.com

Luca Mining Corp. (TSXV: LUCA | OTCQX: LUCMF) is gaining recognition in the polymetallic mining sector, operating two producing mines in Mexico—Campo Morado and Tahuehueto. The company is focused on responsibility, exploration, and cash flow generation.In this interview, CEO Daniel Barnholden and President Ramon Perez share insights into the company's strategic positioning, operational strengths, and what investors can expect in terms of catalysts and potential M&A activity heading into 2025.Learn more about Luca Mining: https://lucamining.com/Luca Mining will be at the Commodities Global Expo 2025, taking place on May 11–13 at the Four Seasons in Fort Lauderdale, Florida. Secure your spot at the Commodities Global Expo 2025 and connect with Luca Mining: https://topshelf-partners.com/Watch the full YouTube interview here: https://youtu.be/GnFMDXXCvJAAnd follow us to stay updated: https://www.youtube.com/@GlobalOneMedia?sub_confirmation=1

Interview with Mark Chalmers, President & CEO of Energy Fuels Inc.Our previous interview: https://www.cruxinvestor.com/posts/energy-fuels-nyseuuuu-what-us-automotives-want-7028Recording date: 2nd May 2025Energy Fuels is emerging as a standout player in the critical minerals sector, with its unique dual focus on uranium and rare earth elements production. The company recently demonstrated its operational capabilities by producing 151,400 pounds of uranium in April 2025 from its Pinyon Plane mine, achieving higher-than-expected grades of approximately 1.6%.Led by industry veteran Mark Chalmers, who brings 49 years of global uranium production experience, Energy Fuels has strategically positioned itself to capitalize on growing supply constraints in the uranium market. Chalmers offers a sobering assessment of the global uranium supply situation, noting that the best deposits worldwide are depleting while new discoveries remain limited, unpermitted, and undeveloped.The company's White Mesa Mill represents a significant competitive advantage, with the flexibility to switch between uranium and rare earth processing based on market conditions. This capability allows Energy Fuels to respond with unusual agility to customer demands and price fluctuations.Beyond current production, Energy Fuels is advancing multiple mining projects including Roca Honda in New Mexico, Bullfrog, and potential restarts at the La Sal Complex, Energy Queen, and Whirlwind mines. The company emphasizes "pounds above the ground" rather than just theoretical resources.Energy Fuels has positioned itself to potentially provide 50-100% of US demand for multiple critical minerals, aligning perfectly with governmental priorities for secure domestic supply chains. Despite strong federal support, regulatory and permitting challenges remain significant barriers to rapid industry expansion.Chalmers believes uranium prices must rise "well into the hundreds" per pound to incentivize new production and ensure long-term industry sustainability. With uranium currently trading around $70/lb and production costs at approximately $40/lb, Energy Fuels stands to benefit substantially from this anticipated price appreciation while executing its unique strategy in critical minerals.Learn more: https://www.cruxinvestor.com/companies/energy-fuelsSign up for Crux Investor: https://cruxinvestor.com

Interview with Paul Barrett, CEO of Rome ResourcesOur previous interview: https://www.cruxinvestor.com/posts/rome-resources-lsermr-tin-resource-update-in-the-coming-months-6874Recording date: 29th April 2025Rome Resources (LSE) has announced the resumption of exploration drilling in the Democratic Republic of Congo (DRC) following improved security conditions in the region. CEO Paul Barrett confirmed that helicopter support has mobilized back to the country, with drilling operations expected to restart by the end of this week.The improved situation stems from M23 rebels retreating from the company's operational area back to the Kivu region, along with ongoing peace talks between Rwanda and DRC. While currently operating from Kisangani, the company plans to eventually return to Goma, which would streamline logistics with shorter helicopter flight times.Rome Resources is focusing exclusively on the Mont Agoma deposit, having already collected sufficient data from the Kalayi deposit. The strategic drilling program targets a specific data gap in the deeper part of Mont Agoma, based on their geological model suggesting increased tin grades at depth. The company also plans to drill exploratory holes on the southern fringe to determine the deposit's lateral extent.Mont Agoma represents a more complex opportunity than the pure tin Kalayi deposit, featuring additional copper and zinc mineralization. This multi-metal potential could provide significant value streams for the project, with the company exploring combined processing options for all three metals.A key near-term catalyst is the planned resource estimate expected by the end of May 2025, pending assay results from holes 24 and 26. The estimate will require independent verification to comply with AIM listing rules.Financially, Rome Resources maintains a strong position with $2.7 million in cash and a tightly controlled drilling budget of $1.6 million. The company operates with a lean structure, directing 90% of expenditures toward drilling activities.The company is also exploring collaboration opportunities with neighboring miner Alphamin for shared helicopter and fixed-wing facilities, potentially improving operational efficiency in the remote region.View Rome Resources' company profile: https://www.cruxinvestor.com/companies/rome-resourcesSign up for Crux Investor: https://cruxinvestor.com

Interview with Matthew Hayes, Executive Director of James Bay Minerals Ltd.Our previous interview: https://www.cruxinvestor.com/posts/james-bay-minerals-asx-jby-two-pronged-approach-near-surface-gold-high-grade-skarn-upside-6312Recording date: 28th April 2025James Bay Minerals is advancing its strategic 1.4 million ounce gold resource in Nevada toward potential near-term production. The project features a high-grade component of 980,000 ounces grading 6.67 g/t gold and a surface oxide component of approximately 400,000 ounces at nearly 4 g/t.Located adjacent to Nevada Gold Mines' Phoenix operation, described as "the largest gold mine in the world," JBY's asset shares identical geology with a proven neighbor that has produced 9 million ounces over 40 years. The project benefits from existing infrastructure including power, paved roads, and secured water rights, with just a 15-minute drive to the established mining town of Battle Mountain.Executive Director Matthew Hayes, who holds approximately 15% of the company, highlighted their production-focused strategy: "We've got advanced heap leach permitting in place. And within 8-12 months we could be in production." This heap leach approach could enable operations to begin at a relatively modest capital cost compared to conventional mining.JBY acquired the asset in a distressed situation for less than $4 per ounce (now effectively under $2 per ounce at current share prices) and maintains a healthy treasury with $7.3 million cash. The company is currently conducting a 4,000-meter drill program targeting significant resource expansion, including previously undrilled high-grade outcrops with samples up to 42 g/t gold.Metallurgical studies demonstrate favorable recoveries of 79% for oxide material, exceeding the neighboring operation's 68% recovery despite processing much lower grades (0.32 g/t).Management's substantial ownership (approximately 33% collectively) aligns interests with shareholders and supports their anti-dilutive approach, with Hayes noting: "We'll most likely be looking to do it majority through debt financing."In the current strong gold price environment, JBY represents a compelling opportunity for investors seeking exposure to a potential near-term gold producer in a premier mining jurisdiction.View James Bay Minerals' company profile: https://www.cruxinvestor.com/companies/james-bay-mineralsSign up for Crux Investor: https://cruxinvestor.com

This critical minerals project secured a nearly $1 billion loan from the U.S. Department of Energy (DOE) and could transform the country's supply chain security.In this interview, Ioneer (ASX: INR | NASDAQ: IONR) Managing Director Bernard Rowe discusses their flagship Rhyolite Ridge project in Nevada—a fully permitted lithium and boron operation that's unlike any other deposit worldwide. Tune in to discover how this unique dual-revenue project could be the first new lithium mine in the U.S. in over 60 years and the first new boron producer in a century. Rowe also explains the strategic importance that led to the DOE's financing support, the vertical integration that will process minerals on-site, and why the 510-million-ton resource could provide decades of expansion potential.With offtake agreements already secured with Ford and Toyota, Rowe shares insights on market timing, community engagement, and why investors should watch this developing story in U.S. critical minerals production.Learn more about Ioneer: https://www.ioneer.com/Watch the full YouTube interview here: https://youtu.be/LZ2DCqqAy-oAnd follow us to stay updated: https://www.youtube.com/@GlobalOneMedia?sub_confirmation=1

Cerrado Gold is building a multi-jurisdiction gold portfolio with a focus on cash flow and growth.In this episode of Stocks to Watch, Mark Brennan, Chairman & CEO of Cerrado Gold (TSXV: CERT | OTCQX: CRDOF), highlights the company's strong growth and profitable gold production in Argentina. With a feasibility study underway for its iron ore project in Quebec and the addition of the Lagoa Salgada project in Portugal through the process of completing its acquisition of Ascendant Resources, Cerrado Gold remains focused on generating strong cash flow and delivering long-term value to shareholders. As gold prices remain high, the company is well-positioned for continued success.Secure your spot at Commodities Global Expo 2025 and connect with Cerrado Gold: https://topshelf-partners.com/Learn more about Cerrado Gold and their projects: https://www.cerradogold.com/Watch the full YouTube interview here: https://youtu.be/zm7dezSCmmY?si=BKJFnQu271m_7Vtg And follow us to stay updated: https://www.youtube.com/@GlobalOneMedia?sub_confirmation=1

Compass, episode 13Our previous interview: https://www.cruxinvestor.com/posts/why-smart-money-is-chasing-mining-royalty-companies-7032Recording date: 28th April 2025The investment landscape has settled into a period of relative calm following an eventful first quarter marked by new tariff policies from the Trump administration. Markets currently appear to be in a holding pattern, waiting for the next significant catalyst, according to recent discussions between Samuel Pelaez and Derek Macpherson of Olive Resource Capital.This temporary market lull provides an opportunity for investors to reassess positioning, particularly in the gold sector, which is demonstrating remarkable strength. Q1 reporting reveals impressive performance from leading gold producers, with Agnico Eagle generating $6.7 million in daily free cash flow during Q1 at an average gold price of $2,900. With gold now trading around $3,400, daily free cash flow could potentially exceed $10 million, showcasing the significant operating leverage gold producers have to metal prices.The fundamentals driving gold stocks are increasingly attractive to professional investors. Agnico Eagle posted year-over-year revenue growth of 36% in Q1, outpacing even successful tech companies that typically grow at around 20% annually. Despite this strong performance, valuations remain compelling, with Agnico Eagle estimated to be trading at a free cash flow multiple of 10-15 times.Generalist investors are beginning to take notice, with Newmont ranking as the third-best performing stock in the S&P 500 year-to-date, up approximately 45%. This investment cycle typically begins with generalists purchasing large-cap gold producers, followed by capital flowing to mid-caps, developers, and eventually explorers – a pattern that appears to be in its early to middle stages currently.Several macroeconomic factors continue to support gold, including upcoming debt ceiling negotiations and budget discussions in Congress, which could drive market volatility in the coming months. Additionally, the U.S. dollar, described as "significantly oversold," may experience a temporary rebound that could create short-term volatility in gold prices, potentially offering buying opportunities.Olive Resource Capital maintains approximately 50% of its assets in gold and platinum group metals (PGMs), focusing on highest-conviction names. The company also sees potential in PGMs, which are currently out of favor but face fundamental supply constraints with production dominated by South Africa and Russia.With ongoing fiscal challenges, potential monetary policy adjustments, and geopolitical uncertainties likely to persist through 2025, the fundamental case for gold as both a portfolio diversifier and growth opportunity remains compelling. Investors who can look beyond short-term price movements to focus on quality assets and management teams are well-positioned to benefit from this developing investment cycle.Sign up for Crux Investor: https://cruxinvestor.com

Interview with Jeff Quartermaine, Managing Direcotr & CEO of Perseus Mining Ltd.Our previous interview: https://www.cruxinvestor.com/posts/perseus-mining-asxpru-gold-operations-deliver-22-profit-growth-6748Recording date: 29th April 2025Perseus Mining Limited (ASX/TSX: PRU) has emerged as one of Africa's most compelling gold investment opportunities, demonstrating exceptional financial strength and a clear growth trajectory. With its March 2025 quarter results revealing cash and bullion reserves of US$801 million, zero debt, and an additional US$300 million in undrawn credit facilities, Perseus stands on remarkably solid financial footing among mid-tier gold producers.The company's operational excellence continues to impress, with quarterly production of 121,605 ounces at a competitive all-in site cost (AISC) of US$1,209 per ounce. This efficiency, combined with strong gold prices averaging US$2,462 per ounce during the quarter, has generated substantial cash margins of US$1,253 per ounce and a notional operating cashflow of US$152 million. Such robust margins highlight Perseus's ability to maximize value from its existing asset base.Most significantly, Perseus has now taken the Final Investment Decision to develop the Nyanzaga Gold Project in Tanzania. This strategic expansion represents a US$523 million investment to develop a large-scale, wholly open-pit operation expected to produce first gold in Q1 2027. Over its initial 11-year mine life, Nyanzaga is projected to produce 2.01 million ounces of gold, with production averaging over 200,000 ounces annually from FY28 to FY35 and peaking at 246,000 ounces. The project's strong economics are reflected in its pre-tax NPV10% of US$404 million and IRR of 26%, figures that improve dramatically at higher gold prices.Complementing the Nyanzaga development is Perseus's commitment to the CMA Underground project at its flagship Yaouré operation in Côte d'Ivoire. This development will make history as Côte d'Ivoire's first mechanized underground mine while extending Yaouré's operational life until at least 2035. With Byrnecut appointed as the specialized underground mining contractor and mobilization already underway, the project is advancing rapidly toward portal development in July 2025.Despite these significant capital commitments, Perseus continues to prioritize shareholder returns through its ongoing A$100 million share buyback program, which was approximately 33% complete at quarter-end. This balanced approach to capital allocation demonstrates management's commitment to creating both immediate and long-term value for investors.Perseus Mining has clearly positioned itself for sustainable growth beyond this decade. CEO Jeff Quartermaine's strategy of building "a sustainable, geopolitically diversified but African-focused gold business involving 3-4 operating mines that produce between 500-600koz of gold per annum" is now coming to fruition. With its exceptional financial position, strong operational performance, and two major growth projects underway, Perseus offers investors exposure to a well-managed gold producer with significant upside potential in a favorable gold price environment.—View Perseus Mining's company profile: https://www.cruxinvestor.com/companies/perseus-miningSign up for Crux Investor: https://cruxinvestor.com

This company could be sitting on one of Quebec's highest-potential gold exploration projects.In this interview, Amex Exploration (TSXV: AMX | FSE: MX0 | OTCQX: AMXEF) President & CEO Victor Cantore shares updates on their high-grade gold discovery and upcoming catalysts. With drill results showing impressive grades and the recent expansion of their land holdings, the company is positioning itself as a potential near-term producer.The discussion also covers their partnership with Norda Stelo for environmental studies, a crucial step in advancing the Perron Project, and their strategy for minimizing operational risks. Watch until the end to discover why Amex Exploration is becoming a standout in the gold exploration space and why it's a stock to watch.Learn more about Amex Exploration and its projects: https://www.amexexploration.com/Watch the full YouTube interview here: https://youtu.be/fc-1V_HlqpsAnd follow us to stay updated: https://www.youtube.com/@GlobalOneMedia?sub_confirmation=1

John Miniotis, President & CEO of AbraSilver Resource (TSX: ABRA), joins us to discuss the company's Diablillos silver-gold project in Argentina. He highlights a current resource of over 250 million ounces of silver equivalent, a feasibility study expected in 2026, and strong project economics—including a projected 30% after-tax rate of return and low sustaining costs.Tune in to discover AbraSilver Resource's upcoming milestones, such as ongoing drill results and progress in environmental permitting. Learn more about AbraSilver Resource: https://www.abrasilver.com/AbraSilver Resource will be at the Commodities Global Expo 2025, taking place on May 11-13 at the Four Seasons in Fort Lauderdale, Florida. Secure your spot at the Commodities Global Expo 2025 and connect with AbraSilver Resource: https://topshelf-partners.com/Watch the full YouTube interview here: https://youtu.be/Kmk_SAN42CYAnd follow us to stay updated: https://www.youtube.com/@GlobalOneMedia?sub_confirmation=1

Interview with Philip Williams, Director & CEO of Iso Energy Ltd.Our previous interview: https://www.cruxinvestor.com/posts/isoenergy-tsxiso-nyse-listing-on-horizon-as-company-expands-athabasca-basin-drilling-6792Recording date: 25th April 2025IsoEnergy, led by CEO Philip Williams, has established itself as a diversified uranium explorer and developer with a portfolio spanning Canada, the United States, and Australia. The company is advancing its flagship Hurricane project in Canada's Athabasca Basin, which boasts an exceptional resource of 48.6 million pounds at 34.5% grade, making it one of the highest-grade uranium deposits globally.The Hurricane deposit's value extends beyond its impressive grade. Strategically located in the eastern Athabasca Basin near existing infrastructure, including the McClean Lake mill, the deposit continues across a property boundary onto land owned by Cameco and Orano. Recent drilling has revealed promising results, with elevated radioactivity detected in multiple locations, including a significant intercept 2.8 kilometers from the main deposit.Williams employs a "fried egg" analogy to describe their exploration approach: "In the center of the egg is the ultra-high grade. And as you get to the outside of the egg, when you move out of the yolk into the whites, that's where you have lower grade." Recent findings suggest they've identified the "whites" of potentially new deposits and are now searching for the high-grade "yolks."Beyond Hurricane, IsoEnergy owns past-producing uranium mines in the United States that could restart within 3-6 months when market conditions improve. These conventional mines offer significant operational flexibility, as Williams notes: "You can turn them on, turn them off, batch mine them," unlike larger projects requiring substantial capital investment.With $50 million in cash and a $30 million equity portfolio, IsoEnergy is well-positioned to advance its business plan despite market volatility. The company's diversified strategy reduces the risks associated with single-asset, single-jurisdiction uranium companies.Williams highlights a fundamental disconnect in the uranium market: "It costs more marginally to produce uranium than it's trading at right now. So at some point the rubber will hit the road." He believes an eventual price correction is inevitable as producers cannot sustain losses indefinitely.IsoEnergy's ultimate vision is to build a robust, diversified uranium producer delivering shareholder returns across multiple timeframes. As Williams concludes, "In uranium, if you want to be a relevant long-term bigger player, you need to have multiple assets" – a strategy that positions IsoEnergy to weather the sector's volatility while capitalizing on expected long-term growth in uranium demand.View IsoEnergy's company profile: https://www.cruxinvestor.com/companies/isoenergySign up for Crux Investor: https://cruxinvestor.com

Interview with Shane Williams, President & CEO of West Red Lake Gold MinesAlex Black, Executive Chairman of Rio2 Ltd.Recording date: 25th April 2025In a recent panel discussion, Shane Williams, CEO of West Red Lake Gold Mines, and Alex Black, Executive Chair of Rio2, shared valuable perspectives on gold mine development that investors should consider when evaluating mining stocks.The executives lead distinctly different projects: West Red Lake's Madsen mine is a high-grade underground operation in Canada, while Rio2's Fenix Gold is a large open-pit low-grade project in Chile. This contrast highlights the diverse approaches within the gold mining sector.Williams described Madsen as a data-driven operation requiring intensive geological understanding through 150,000 meters of detailed drilling. "It's not a visual mine. So you can't visually follow the gold," he explained. The mine employs three levels of geological modeling and will process 800 tons daily with an expected annual production of 65,000-70,000 ounces at full capacity.In contrast, Black characterized Fenix Gold as "a massive 400 million ton ore body sitting at the top of a hill." Rio2 will move approximately 20,000 tons daily with a grade of about 0.5 grams per ton, compared to Madsen's 8 grams. First gold production is anticipated in January 2026, targeting 100,000 ounces annually by year-end.Both executives emphasized that successful mine development depends on experienced management teams – a resource increasingly scarce in the industry. "There's been a brain drain in the mining sector over the last 20 years," Black noted, while Williams cautioned investors against taking management credentials at face value.The discussion highlighted several red flags investors should watch for, including projects with extended development timelines. "A project should take three to four years to build roughly," Williams stated. "If that project is not moving, there's something there that either they can't advance or there's some issues."The executives advocated for leadership approaches focused on empowerment rather than micromanagement. "If you're a micromanager, you're going to lose," Black emphasized, particularly in project development where numerous workstreams must progress simultaneously.They also discussed industry challenges including the need for consolidation among junior miners, management ego as a barrier to necessary mergers, and the importance of transparency with shareholders.For investors, the key takeaways include thoroughly evaluating management credentials, understanding the specific challenges of different mining methods, recognizing timeline red flags, and appreciating the necessity of transparency and appropriate leadership approaches in successful mine development.Sign up for Crux Investor: https://cruxinvestor.com

Forex trader Marc Walton shares the ultimate blueprint for building wealth outside the 9-5 grind. With over 30 years of experience as a self-made trader and entrepreneur, Marc reveals how he used alternative investments and a home-based trading strategy to create lasting financial freedom.In this value-packed episode, you'll discover how to:Avoid the costly mistakes most beginner Forex traders makeUse cyclical investing to ride major booms in crypto and goldBreak free from the paycheck-to-paycheck life and become a digital nomadThink like an investor, not a worker — and why that mindset matters now more than everUnderstand how emerging trends like AI in finance and quantum computing are disrupting traditional investingWhether you're just starting out, stuck in a career you hate, or looking to level up your investment game, Marc's story offers hard-earned wisdom and practical strategies to help you escape the rat race and master your financial future.Timestamps:00:00 - Intro: From Beach Busker to Forex Trader 02:00 - Starting Over After Bankruptcy & Divorce 03:50 - The Real Cost of Early Retirement 06:30 - Discovering Forex & Losing £20K 09:00 - Finding a Mentor & Turning Pro 10:30 - Cyclical Investing Explained 13:20 - Crypto Boom: 5000% Gains in 9 Months 15:10 - Gold, Mining Stocks & Timing the Market 17:00 - Why Most People Are Financially Trapped 20:00 - How AI & Quantum Will Reshape Finance 22:00 - The Danger of Selling Hours for Money 24:10 - Thoughts on Trump, Tariffs & Stablecoins 27:00 - Ethereum vs Solana & the Future of DeFi 30:00 - Are Resumes Obsolete? 33:00 - Why Most Financial Advisors Are Outdated 36:00 - How to Connect with Marc WaltonTo check out the YouTube (video podcast), visit: https://www.youtube.com/@drchrisloomdphdDisclaimer: Not advice. Educational purposes only. Not an endorsement for or against. Results not vetted. Views of the guests do not represent those of the host or show.  Click here to join PodMatch (the "AirBNB" of Podcasting): https://www.joinpodmatch.com/drchrisloomdphdWe couldn't do it without the support of our listeners. To help support the show:CashApp- https://cash.app/$drchrisloomdphdVenmo- https://account.venmo.com/u/Chris-Loo-4Spotify- https://podcasters.spotify.com/pod/show/christopher-loo/supportBuy Me a Coffee- https://www.buymeacoffee.com/chrisJxClick here to schedule a 1-on-1 private coaching call: https://www.drchrisloomdphd.com/book-onlineClick here to check out our bookstore, e-courses, and workshops: https://www.drchrisloomdphd.com/shopClick here to purchase my books on Amazon: https://amzn.to/2PaQn4pFor audiobooks, visit: https://www.audible.com/author/Christopher-H-Loo-MD-PhD/B07WFKBG1FFollow our YouTube channel: https://www.youtube.com/chL1357Follow us on Twitter: https://www.twitter.com/drchrisloomdphdFollow us on Instagram: https://www.instagram.com/thereal_drchrislooFollow us on Threads: https://www.threads.net/@thereal_drchrislooFollow us on TikTok: https://www.tiktok.com/@drchrisloomddphdFollow our Blog: https://www.drchrisloomdphd.com/blogFollow the podcast on Spotify: https://open.spotify.com/show/3NkM6US7cjsiAYTBjWGdx6?si=1da9d0a17be14d18Subscribe to our Substack newsletter: https://substack.com/@drchrisloomdphd1Subscribe to our Medium newsletter: https://medium.com/@drchrisloomdphdSubscribe to our LinkedIn newsletter: https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=6992935013231071233Subscribe to our email list: https://financial-freedom-podcast-with-dr-loo.kit.com/Thank you to all of our sponsors and advertisers that help support the show!Financial Freedom for Physicians, Copyright 2025

Interview with Dr. Mike Jones, MD of Impact Minerals Ltd.Our previous interview: https://www.cruxinvestor.com/posts/impact-minerals-asxipt-developing-critical-high-purity-alumina-project-in-australia-6331Recording date: 23rd April 2025Impact Minerals has announced a transformative 50/50 joint venture to acquire Hipura Proprietary Limited, positioning the company to fast-track its entry into the high-purity alumina (HPA) market. The acquisition includes a nearly-completed pilot plant capable of producing at least 25 tons per annum of HPA, requiring just final electrical connections and approximately $500,000 in capital to commission over the next 3-6 months.The $2.2 million acquisition price is split equally between Impact and its partners, with Impact contributing $1.1 million. Both parties have also committed a further $1 million in working capital ($500,000 each) to bring the pilot plant to operational status."This acquisition significantly accelerates our path to production," said Dr. Mike Jones, Managing Director of Impact Minerals. Hipura's solvent extraction technology is similar to that used by Alpha HPA, which has achieved a billion-dollar market capitalization in the HPA space.The joint venture company, named Alluminous, will operate independently with a board structure consisting of two members from Impact, two from other shareholders, and an independent chairperson who will have the casting vote in case of disagreements.A key strategic element is the potential integration with Impact's existing Lake Hope project in Western Australia. Impact is exploring whether material from Lake Hope could serve as feedstock for the Hipura process, potentially reducing costs compared to the chemical feedstock currently required.The acquisition positions Impact as the second most advanced HPA producer in the Australian market behind Alpha HPA. "No one else in the HPA space has either got a pilot plant or can produce anywhere near that kind of quantity. We've taken a huge step forward over our peers," noted Dr. Jones.The HPA market has seen growing interest, particularly in applications for semiconductors, LED lighting, and batteries. Alpha HPA has reported indicative demand exceeding 30,000 tons for its 10,000-ton plant, suggesting strong market potential.Unlike Alpha HPA's large-scale approach requiring significant capital expenditure, Impact believes the Hipura process enables a modular approach with smaller, more capital-efficient plants that can be scaled up as demand grows.With North American investment groups involved in the joint venture, Impact is also eyeing potential geographical expansion, particularly targeting the growing semiconductor industry demand for HPA in North America.The transaction is described as "clean" with no hidden liabilities or unresolved IP issues, providing a fresh start for the technology under the new joint venture arrangement.View Impact Minerals' company profile: https://www.cruxinvestor.com/companies/impact-mineralsSign up for Crux Investor: https://cruxinvestor.com

Compass, episode 12Our previous episode: https://www.cruxinvestor.com/posts/gold-shines-while-traditional-safe-havens-falter-7015Recording date: 23rd April 2025Mining royalty companies are emerging as an attractive investment option for those seeking commodity exposure with reduced operational risk. Recent market developments, particularly the acquisition of Orogen Royalties' tier one royalty on the Silicon deposit by Triple Flag, have highlighted the value proposition of these unique business models.Unlike traditional mining operations, royalty companies operate on a fundamentally different model. They hold the right to a percentage of revenue, typically 1-2% of the net smelter return, providing commodity price exposure without the corresponding operational costs or risks. This business model originated in the oil and gas industry but has been successfully applied to mining, particularly in gold where returns are straightforward to calculate.The key advantage of royalty companies lies in their risk profile. As Samuel Pelaez, President & CEO at Olive Resource Capital explains, these companies have "no exposure to the cost portions or the risk that's attributable to cost overruns and margin compression." Their sole exposure is to commodity prices and production success. Additionally, most royalty agreements include rights to exploration upside, covering new discoveries within the area of interest.This capital-light business model allows companies like Franco Nevada to operate with minimal staff while commanding a market capitalization of C$46 billion. Once due diligence is complete and royalties are secured, the business essentially involves waiting for royalty checks to arrive.Royalty companies typically trade at premium valuations of 10-20 times revenue compared to traditional mining companies. This reflects their lower risk profile and appeal to generalist investors seeking gold exposure without the complexity of evaluating individual mining projects."Tier one royalties" – those on large-scale assets in good jurisdictions – are particularly valuable but rarely held by small public companies. The recent acquisition of Orogen's royalty on AngloGold Ashanti's Silicon-Merlin project (with approximately 16 million ounces of gold resource) by Triple Flag valued it at approximately 15-16 times projected annual revenue.When evaluating royalty companies, investors should focus on royalties that are either currently cash-flowing or have a clear path to production. As Derek Macpherson, Executive Chair at Olive Resource Capital notes, "A royalty that isn't producing cash flow or doesn't have a clear path to production is worth zero."As gold prices remain strong, royalty companies continue to offer an appealing way to gain leveraged exposure to precious metals without taking on the full range of risks associated with mining operations.Sign up for Crux Investor: https://cruxinvestor.com

Interview with VP of Critical Minerals, Debra BennethumOur previous interview: https://www.cruxinvestor.com/posts/energy-fuels-nyse-uuuu-reshoring-critical-mineral-production-back-to-the-us-6878Recording date: 23rd April 2025Energy Fuels stands at a pivotal moment in its corporate evolution, transforming from a 45-year veteran uranium producer into potentially America's premier rare earth elements processor. This strategic pivot capitalizes on the company's existing infrastructure, technical expertise, and unique competitive advantages in an increasingly critical sector. The rare earth oxide produced by Energy Fuels—particularly neodymium-praseodymium (NDPR)—is essential for manufacturing permanent magnets used in electric vehicle motors, wind turbines, and defense applications. Unlike many aspirational rare earth companies, Energy Fuels has already commissioned a 1,000-ton per annum production facility at its White Mesa Mill with plans to expand to 6,000 tons by 2028, demonstrating real production capability rather than conceptual plans.The company's strategic advantage stems from its approach to processing monazite sand—a byproduct of heavy mineral sand operations—which provides a more favorable cost structure than competitors. Critically, Energy Fuels' uranium processing expertise, existing facilities, and regulatory permits create significant barriers to entry for potential competitors, as monazite contains uranium that must be properly processed and managed. This positions Energy Fuels as potentially the only American company that can economically process this valuable rare earth source at scale, with the company's leadership believing they can compete with Chinese producers on cost—a critical factor for securing automotive contracts.Recent additions to the leadership team enhance this competitive position. Debra Bennethum, who joined as VP of Critical Minerals in June 2024, brings 13 years of procurement and supply chain experience at General Motors, including direct involvement in sourcing critical minerals for EV batteries and drive units. This automotive industry expertise provides Energy Fuels with invaluable insights into OEM procurement processes and requirements, potentially accelerating customer acquisition and contract negotiations.The timing for Energy Fuels' strategic pivot appears opportune. Recent Chinese export restrictions on seven rare earth elements have highlighted vulnerabilities in global supply chains, accelerating automotive manufacturers' interest in securing domestic supplies. The semiconductor shortage during the pandemic further prompted OEMs to develop more direct relationships with material suppliers to avoid similar disruptions. These dynamics create strong tailwinds for Energy Fuels as it develops its rare earth business.For investors, Energy Fuels offers a compelling combination of execution progress and substantial market opportunity. The company has already secured validation partnerships with manufacturers like POSCO International, with potential for product to enter saleable vehicles as early as this year. The automotive industry's typical 5-7 year contract structures for vehicle programs offer visibility for potentially stable, long-term revenue streams. Additionally, Energy Fuels' diversified revenue approach—maintaining its uranium business while developing rare earth production—provides multiple avenues for growth while reducing concentration risk. With a feasibility study update expected by year-end and financial projections to follow in 2025, investors may soon have clearer visibility into the value proposition of what could become America's cornerstone rare earth producer in an increasingly critical mineral-dependent economy.—Learn more: https://cruxinvestor.com/companies/energy-fuels-incSign up for Crux Investor: https://cruxinvestor.com

Interview with John Cash, CEO of Ur-Energy Inc.Our previous interview: https://www.cruxinvestor.com/posts/ur-energy-nyseurg-uranium-producer-targeting-22mlb-output-in-us-6676Recording date: 23rd April 2025Ur-Energy, one of North America's few active uranium producers, is making significant operational progress at its Lost Creek facility in Wyoming while preparing to launch its second mine, Shirley Basin, by early 2026. After facing production challenges throughout 2024, the company reported substantial improvements in Q1 2025, now consistently producing at around 400,000 pounds annualized.CEO John Cash indicates the company has secured seven contracts worth approximately 5.84 million pounds over the next few years, primarily with US utilities. These contracts include inflation escalation provisions, offering protection against rising costs. For 2025, Ur-Energy's contract commitments total 440,000 pounds, increasing to over 1.2 million pounds in 2026.The company estimates production costs of approximately $45/lb at Lost Creek and $50/lb at Shirley Basin as they achieve economies of scale, well below the current long-term uranium price of $80/lb. This provides healthy margins despite recent operational challenges that resulted in losses of $6.19 per pound in 2024, compared to a profit of nearly $31/lb in 2023.Development at Shirley Basin appears on schedule, with significant construction already completed. The company has made progress staffing the new operation and plans to hire approximately 40-50 more hourly staff by late summer to ensure proper training before production begins.As a US-based producer selling primarily to US utilities, Ur-Energy is largely insulated from potential tariffs and trade restrictions. The company could benefit from the recent Section 232 investigation into critical minerals, which explicitly includes uranium and might yield supportive measures for domestic producers.Cash believes the uranium market remains in a supply deficit, with many promised projects unlikely to materialize. He suggests prices might need to increase by another $10-20/lb to incentivize sufficient new production, highlighting the disconnect between projected and realistic uranium supply in the coming years.View Ur-Energy's company profile: https://www.cruxinvestor.com/companies/ur-energy-incSign up for Crux Investor: https://cruxinvestor.com

Interview with George Salamis, President & CEO of Integra Resources Corp.Our previous interview: https://www.cruxinvestor.com/posts/integra-resources-tsxvitr-us-gold-producer-on-path-to-300000-oz-pa-6833Recording date: 23rd April 2025Integra Resources (TSX: ITR; NYSE: ITRG) has successfully transformed from a development-stage company into a producing gold miner with the acquisition of the Florida Canyon mine, creating a compelling investment opportunity in the gold sector. The company's recent Q1 2025 results showcased robust production of 19,323 ounces of gold and established a solid financial foundation with $61.1 million in cash, demonstrating the operational and financial strength that underpins its growth strategy.The company's three-asset portfolio in the western United States creates a clear path to significant production growth. Florida Canyon currently produces approximately 75,000 ounces annually, but with the planned development of DeLamar and Wildcat, Integra aims to reach approximately 300,000 ounces of annual production. This growth trajectory follows a self-funded model where "one asset pays for the second which pays for the third," eliminating the need for dilutive equity financing that has historically constrained the company's ability to create shareholder value.The timing of Integra's transformation could not be more opportune, with gold prices reaching record levels around $3,400 per ounce. This price environment has dramatically enhanced the economics of Florida Canyon beyond initial expectations when the acquisition was made. While implementing prudent risk management through a put option strategy with a floor of $2,400 for 75% of 2025's expected production, Integra maintains full exposure to gold price upside, creating an attractive risk-reward profile.Integra has assembled what CEO George Salamis describes as a "builder's team" with the technical expertise to both operate existing mines and develop new projects. Key additions include COO Cliff LaFleur from Silvercrest and VP of Permitting Dale Kerner from Perpetua Resources, strengthening the company's ability to execute its development strategy. The current U.S. administration's supportive stance toward domestic mining projects further enhances Integra's operating environment, potentially accelerating permitting timelines for both DeLamar and Wildcat.From a valuation perspective, Integra currently trades at approximately 0.35x price-to-net asset value, compared to a junior producer peer average of 0.6x, suggesting significant potential for revaluation as the company executes its growth strategy. This discount largely stems from the market's focus primarily on Florida Canyon's value while attributing little value to the development-stage assets. As Integra advances DeLamar and Wildcat toward production using internally generated funds, this valuation gap should narrow.The company's strategic focus on optimization initiatives at Florida Canyon, including improvements to the electrowinning circuit, carbon-in-column circuit, and potential fleet upgrades, presents additional opportunities to enhance cash flow beyond current levels. These incremental improvements, combined with a planned 10,000-meter exploration program aimed at extending Florida Canyon's mine life beyond six years, could provide near-term catalysts for share price appreciation.For investors seeking exposure to gold with a combination of current production and significant growth potential, Integra Resources offers a compelling investment case. The company's transition from a perpetual fundraising cycle to a self-funded growth model, coupled with its experienced management team and strategic asset base in a favorable jurisdiction, positions it well to deliver substantial returns as it executes its clearly defined path to becoming a mid-tier gold producer.—View Integra Resources' company profile: https://www.cruxinvestor.com/companies/integra-resourcesSign up for Crux Investor: https://cruxinvestor.com