Podcasts about natural resources

Oak wilt is a serious disease and the best way to protect your trees is by pruning them only in the dormant season. No one is telling you to go outside on one of the coldest days of the year to prune your oaks, but this is a great time to look out the window, make a plan, study the long-term forecast and put it on your calendar. On this Horticulture Day, Iowa Department of Natural Resources district forester Mark Vitosh joins to share everything you need to know about pruning and dispel myths around exploding trees. Then, Aaron Steil joins to help answer your gardening questions.

Interview with Brian Miller, Director & CEO Of Astra ExplorationOur previous interview: https://www.cruxinvestor.com/posts/astra-exploration-tsxvastr-pitch-perfect-november-2025-8536Recording date: 20th January 2026Astra Exploration (TSXV:ASTR) is aggressively advancing its flagship La Manchuria precious metals project in Argentina following encouraging initial drilling results that have validated management's exploration thesis. CEO Brian Miller outlined the company's progress and 2026 strategy in a recent discussion covering exploration results, geological interpretation, and capital allocation priorities.The company's most significant achievement was securing La Manchuria in mid-2024 and completing an inaugural drill program in early 2025 that intersected exceptional near-surface grades. Miller emphasized the quality of mineralization: "The grades that we've intersected there, they're not common to get repeat grades because I'm literally talking about ounces of gold and kilograms of silver in open drill intercepts near surface. And they're not one-offs. We've repeated several of those."Critically, Phase 1 results demonstrated that the mineralized system extends well beyond previous geological interpretations. The project was thought to be faulted off at both ends along strike, but Astra has proven the system continues in both directions with new parallel zones identified. This expansion fundamentally changes the scale potential, with the deposit now opening up in multiple dimensions including at depth.Astra initiated a 10,000-meter Phase 2 drill program in October 2025, with the first half focused on extending the surface footprint through shallow drilling and the second half targeting deeper zones starting March 2026. Assays from the initial phase are currently pending and expected to provide critical information about lateral continuity and the effectiveness of geophysical targeting methodology.Rather than rushing toward formal resource estimation, management is prioritizing demonstration of scale through step-out drilling. This capital-efficient approach aims to prove system extent before the expensive, dilutive infill drilling required for resource definition. The company maintains its original thesis of multi-million-ounce potential.Argentina's unprecedented political and economic reforms have attracted major mining companies including Lundin, BHP, Kinross, and Barrick to deploy significant capital in the country, validating the jurisdiction and reducing perceived country risk. Management views 2026 as having potential to match or exceed 2025's success, with near-term valuation dependent on pending assay results that will determine how much metal the expanded system contains.View Astra Exploration's company profile: https://www.cruxinvestor.com/companies/astra-explorationSign up for Crux Investor: https://cruxinvestor.com

Some trees, like oaks, need to be pruned during the dormant season to avoid diseases — though you'll likely want to wait for warmer winter days. Mark Vitosh, district forester with the Iowa Department of Natural Resources, joins the show to talk about winter tree maintenance.

@thefowlhunter sits down this week with Delta Waterfowl CEO Jason Tharpe to discuss his recent trip to Washingon DC for the House Committee of Natural Resources' meeting on Hunting and Fishing Access in the Great Outdoors. Among many things, this has kicked off three main objectives with our friends at Delta and Jason tells us about those and what it means moving foward. #enjoythejourney   Transcript and or full video and be found below for more information: https://youtu.be/YWJf7jNejBU https://docs.house.gov/Committee/Calendar/ByEvent.aspx?EventID=118813   Learn more about Delta Waterfowel by visiting: https://deltawaterfowl.org/  

Interview with Alberto Orozco, CEO, Capitan SilverOur previous interview: https://www.cruxinvestor.com/posts/capitan-silver-tsxvcapt-triples-exploration-target-at-historical-cruz-de-plata-silver-district-8232Recording date: 20th January 2026Capitan Silver is entering 2026 with significant momentum following a transformative year that repositioned its Cruz de Plata silver project in Durango, Mexico. CEO Alberto Rosco outlined an ambitious exploration program backed by a recent $29 million financing that will fund 60,000 meters of drilling across what the company now recognizes as a complete mineral system rather than a simple silver trend.The strategic shift came through property consolidation that expanded the project from 7 kilometers to 20 kilometers of vein targets. Through systematic mapping and sampling, the geological team identified that high-grade silver mineralization sits near the contact between an intrusive body and sedimentary rocks, with this controlling structure extending westward and northward in a circular pattern. The company also eliminated a significant royalty and increased gold resources at the adjacent Capitan Hill deposit by 115% to 525,000 ounces.Rosco emphasized that Cruz de Plata's outcropping nature provides substantial cost advantages throughout exploration and potential development. Most previous drilling remained in the top 150 meters, with the 2026 program designed to extend testing to 150-300 meters depth on the advanced Jesus Maria trend while using reverse circulation rigs for rapid, cost-effective testing of new targets to the west, north, and within the intrusive itself.Management remains focused on building an operating mine rather than pursuing early monetization, drawing on the team's experience developing and operating projects in Mexico through their previous work at Argonaut Gold. "We're developing this for the long haul. We see a very big system here and we're very excited about it," Rosco stated, comparing Cruz de Plata to successful intermediate sulfidation deposits like Penasquito and MAG Silver's Juanicipio.With approximately 50 unreleased drill holes from the previous program and multiple rigs operating simultaneously in 2026, investors can expect consistent news flow as Capitan Silver works to demonstrate the scale of its expanded mineral system.Learn more: https://www.cruxinvestor.com/companies/capitan-silverSign up for Crux Investor: https://cruxinvestor.com

Interview with Scott Caithness, Managing Director of Hawk Resources Ltd.Our previous interview: https://www.cruxinvestor.com/posts/hawk-resources-asxhwk-december-drilling-targets-five-prospects-in-historic-copper-district-8487Recording date: 20th January 2026Hawk Resources has successfully raised A$5 million to fund an aggressive exploration campaign across two high-potential critical minerals projects, with the capital raise closing within an hour of opening due to strong investor demand. The oversubscribed raise demonstrates market confidence in the company's dual-pronged strategy targeting near-term copper-gold catalysts in Utah alongside a potentially transformational scandium opportunity in Western Australia.Managing Director Scott Caithness confirmed drilling has commenced at the company's flagship Cactus copper-gold project in Utah, with a 4,000-meter program testing six previously undrilled targets. The project carries significant historical pedigree, having been mined between 1905 and 1920 at grades of 2% copper with meaningful gold credits. Recent verification drilling by Hawk intersected 30 meters at 1.8% copper from surface, confirming the presence of high-grade mineralisation that remains accessible for modern exploration techniques.The company has allocated approximately A$3 million toward the Cactus drilling campaign, with results expected to flow from March 2026 onwards. Hawk's systematic approach integrates geophysical data, historical drilling records, and the first-ever project-wide soil sampling program to identify high-priority targets. The Copperopolis target exemplifies this methodology—a large chargeability anomaly with encouraging surface geochemistry that has never been drill-tested, despite a 1974 hole nearby intersecting 30 meters at 2% copper.Complementing the Utah copper focus, Hawk has reserved A$1-1.5 million to advance its recently acquired scandium project in Western Australia. The asset features a 4 kilometer by 7 kilometer soil anomaly with scandium grades exceeding 500 parts per million, reaching peaks of 1,200 ppm in a commodity currently worth $3,400 per kilogram. Historical shallow drilling intersected significant scandium mineralisation, though verification through laboratory assays remains the immediate priority.Caithness positions Hawk as a critical metals company with copper focus, offering investors exposure to supply-constrained commodities essential for electrification and advanced manufacturing while maintaining strategic optionality through its diversified project portfolio.View Hawk Resources' company profile: https://www.cruxinvestor.com/companies/alderan-resourcesSign up for Crux Investor: https://cruxinvestor.com

Welcome to the daily304 – your window into Wonderful, Almost Heaven, West Virginia. Today is Thursday, January 22, 2026. #1 – From WVDNR - WVDNR announces trout stocking locations The West Virginia Division of Natural Resources is stocking fish in streams and lakes across the state this winter, reminding anglers that recent trout stocking locations are posted at WVdnr.gov/fish-stocking so they can plan leisurely outdoor trips and recreational fishing. Learn more: https://wvdnr.gov/fishing/fish-stocking/   #2 – From WOWK-TV - Charleston Restaurant Week returns Jan. 26-31 Charleston Restaurant Week is scheduled for January 26–31, bringing back one of the capital city's favorite winter traditions with participating restaurants offering special three-course menus at set prices. Book your reservations today! Read more: https://www.wowktv.com/news/west-virginia/kanawha-county-wv/anticipation-builds-ahead-of-charleston-restaurant-week/amp/   #3 – From BLUE RIDGE OUTDOORS - Wander the Parks and Trails of Hardy County, WV   Hardy County's parks and trails offer scenic outdoor opportunities for hiking, biking, birdwatching, and exploring West Virginia's natural landscapes, inviting residents and visitors to wander beneath wooded canopies and along valley ridges. Plan your Hardy County getaway today and discover Almost Heaven right at your back door. Read more: https://www.blueridgeoutdoors.com/sponsored-content/wander-the-parks-and-trails-of-hardy-county-wv/ Find these stories and more at wv.gov/daily304. The daily304 curated news and information is brought to you by the West Virginia Department of Commerce: Sharing the wealth, beauty, and opportunity in West Virginia with the world. Follow the daily304 on Facebook, Twitter, and Instagram @daily304. Or find us online at wv.gov and just click the daily304 logo. That's all for now. Take care. Be safe. Get outside and enjoy all the opportunity West Virginia has to offer.  

Interview with Nolan Peterson, CEO of Atlas SaltOur previous interview: https://www.cruxinvestor.com/posts/atlas-salt-tsxvsalt-rare-public-salt-play-targets-10-of-north-americas-de-icing-market-8676Recording date: 16th January 2026Atlas Salt is positioning itself to address a critical infrastructure need in North America through the development of the Great Atlantic Salt project on Newfoundland's west coast. The company targets the deicing road salt market, where demand consistently outstrips domestic supply by 30-40%, forcing North American buyers to source from Egypt and Chile with significantly longer lead times and higher costs.CEO Nolan Peterson, who joined the company in June 2025, explained the market dynamics: "There is a salt shortage year-over-year when you're balancing domestic production versus domestic needs. And domestically, I'm grouping Canada and the United States as one market." The timing appears particularly opportune, with Ontario currently experiencing severe shortages despite having a full year to prepare following last year's supply crisis.The project's geographic advantage is substantial. Located in Newfoundland with direct port access, Atlas Salt can deliver product to the same markets served by foreign producers in 15 to 20% less time and cost, according to Peterson. This proximity enables rapid response to spot market opportunities and provides supply chain stability that foreign sources cannot match.The updated feasibility study demonstrates robust economics with total capital requirements of approximately $600 million CAD. The project generates an NPV of $920 million CAD with a 21.3% after-tax IRR and $188 million in annual after-tax free cash flow over a 25-year mine life. "Our contrast is that we have steady stable cash flow year after year kind of like a dividend or a bond if you will once you get over that initial hurdle," Peterson explained.Construction activities are beginning imminently following financing completed in October 2025, with the company targeting Q2 2026 for a finalized debt package covering 60-80% of capital needs from sovereign wealth funds and infrastructure banks. Atlas Salt has already signed an MOU with Scotwood Industries, the largest distributor of packaged retail deicing salt in North America, while pursuing additional commercial partnerships and potential vertical integration opportunities.View Atlas Salt's company profile: https://www.cruxinvestor.com/companies/atlas-saltSign up for Crux Investor: https://cruxinvestor.com

Interview with Philippe Cloutier, President & CEO of Cartier Resources Inc.Our previous interview: https://www.cruxinvestor.com/posts/cartier-resources-tsxvecr-agnico-backed-junior-targets-mining-camp-scale-gold-discovery-8319Recording date: 19th January 2026Cartier Resources represents a compelling investment opportunity in Canadian gold exploration, combining exceptional drilling economics, strategic backing from Agnico Eagle Mines, and systematic execution of a mining camp-scale discovery programme across 15 kilometres of Quebec's prolific Cadillac Fault.The investment thesis centres on resource growth from the current 3.2 million ounce baseline at the flagship Chimo Mine toward 4-5 million ounces by year-end 2026, with longer-term potential for 12-15 million ounces across multiple deposits. Independent consultants have formally identified exploration targets for an additional 1.1 million ounces achievable through disciplined drilling, validating management's systematic approach to proving up a mining camp rather than a single-asset development story.Cartier's operational advantages stem directly from location within Val-d'Or's established mining infrastructure. The company has secured all-in drilling costs of C$105-110 per metre—from site preparation through assay results to press release—representing exceptional value in the current inflationary environment. This cost structure enables an aggressive 250,000-metre programme with two rigs currently operating 24/7 and plans to deploy four to six additional rigs, matching in one year the total drilling accomplished over the previous decade.Strategic validation from Agnico Eagle, which holds a 27% stake acquired through its O3 Mining purchase, provides both financial support and technical credibility. Monthly technical committee meetings enable rapid reallocation of drilling resources based on emerging results, whilst Agnico's involvement significantly enhances Cartier's profile amongst institutional investors who view major mining company participation at the exploration stage as validation of project quality and future acquisition potential.The company has initiated critical de-risking studies that progressively enhance project economics. Independent metallurgical testwork targets 96-97% gold recovery rates versus historic 93% recoveries, whilst evaluating toll-milling opportunities at four different processing facilities within 60 kilometres. Establishing toll-milling arrangements could reduce capital expenditure by approximately C$120 million by eliminating dedicated mill construction requirements. Environmental baseline studies and a preliminary economic assessment scheduled for 2026 delivery provide the technical foundation for various development scenarios.Cartier's recent surpassing of C$100 million market capitalisation represented a critical threshold that unlocked institutional investor access previously unavailable. The company has traded over 80 million shares since July 2025, representing complete shareholder base rotation toward sophisticated investors with longer time horizons and larger position sizes. This evolution provides improved liquidity, reduced volatility, and establishes the foundation for additional institutional participation as exploration objectives are achieved.Management has demonstrated disciplined capital allocation by optioning three non-core Windfall District projects to Exploits Discovery for C$2 million cash, nearly 10 million shares, and retained royalties whilst maintaining singular focus on the Cadillac Project. Integration of AI-driven targeting methodologies has already validated discoveries like the Contact zone, accelerating exploration timelines by six to eight months compared to traditional approaches.With C$10 million in treasury supporting aggressive drilling without near-term dilution, gold prices sustained above US$4,600 per ounce dramatically improving project economics, and multiple catalysts including ongoing drill results, metallurgical studies, and year-end PEA delivery, Cartier offers substantial upside leverage at current valuations. The company trades at significant discount to peers with comparable resource bases despite superior jurisdictional advantages, strategic backing, and cost structure. For investors seeking exposure to Abitibi gold discovery potential with clearly defined catalysts and multiple value realisation pathways, Cartier Resources represents a compelling core holding within precious metals portfolios during a critical value inflection period.View Cartier Resources' company profile: https://www.cruxinvestor.com/companies/cartier-resources-incSign up for Crux Investor: https://cruxinvestor.com

Interview with Alex Dorsch, MD & CEO of Chalice MiningRecording date: 20th January 2026Chalice Mining is developing the Western world's leading palladium-nickel-copper project at Gonneville, discovered in 2020 near Perth, Australia. The project has advanced from discovery to prefeasibility study (PFS) stage, with Final Investment Decision (FID) and construction planned for 2028-29.The project's exceptional economics stem from open-pit mining starting at surface level, delivering all-in sustaining costs of $370/oz compared to $900-1,800/oz for South African competitors operating deep underground mines. This positions Gonneville in the second quartile of the global cost curve. The PFS demonstrates a 23-year mine life with NPV8 of A$3.3 billion at current prices and 40% IRR, producing 170,000 oz/year initially and scaling to 250,000 oz/year in stage two.Palladium prices have surged 105% from $880/oz to $1,800/oz over seven months, driven by supply constraints with over 90% production concentrated in Russia and South Africa. Demand remains resilient as electric vehicle adoption progresses slower than anticipated, supporting hybrid vehicles that require palladium catalytic converters.Chalice's two-stage development strategy balances ambition with capital discipline. Stage one requires A$820 million capex, fundable through 50-70% debt financing given strong project margins and abundant critical minerals financing from sovereign wealth providers. The company has invested A$325 million in technical work, including A$15 million on metallurgical testing—significantly more than typical junior miners at this stage.A simplified flowsheet redesign produces three standard products processable by conventional smelters, eliminating downstream technology risk. The project's Perth location provides infrastructure advantages and residential workforce access, reducing capital requirements to A$200-250 million versus multi-billion dollar bills for remote projects.With regulatory approvals expected in early 2028, Chalice offers rare exposure to palladium development outside Russian and South African dominance in a structurally constrained supply market.View Chalice Mining's company profile: https://www.cruxinvestor.com/companies/chalice-miningSign up for Crux Investor: https://cruxinvestor.com

Members of the House Committee on Natural Resources pay tribute to the late Rep. Doug LaMalfa (R-California). LaMalfa passed away on January 6, 2026, at the age of 65. He sponsored and co-sponsored a number of Indian Country bills during his time in the U.S. House of Representatives, which included a stint as chair of the House Subcommittee on  Indian and Insular Affairs. " I think he did that job admirably as well," Rep. Jeff Hurd (R-Colorado), the current chair of the subcommittee, said at a markup session on January 22, 2026. Speakers: Rep. Bruce Westerman (R-Arkansas), Chair of House Committee on Natural Resources Rep. Jared Huffman (D-California), Ranking Member of House Committee on Natural Resources Rep. Pete Stauber (R-Minnesota) Rep. Celeste Maloy (R-Utah) Rep. Paul Gosar (R-Arizona) Rep. Russ Fulcher (R-Idaho) Rep. Jeff Hurd (R-Colorado) The markup took place in Room 1324 of the Longworth House Office Building.

Interview with Luke Norman, Executive Chairman of US Gold Corp.Our previous interview: https://www.cruxinvestor.com/posts/us-gold-corp-nasdaqusau-feasibility-study-imminent-with-major-20262028-catalysts-8678Recording date: 16th January 2026US Gold Corp has distinguished itself within the junior gold sector by securing full mining permits for its CK Gold project in Wyoming whilst maintaining an exceptionally tight share structure of just 16.5 million shares outstanding. The company completed a $31.2 million financing in December 2025 with participation from major institutional investors including VanEck, Goehring & Rozencwajg, and Libra Capital, marking a validation milestone that complements its established retail shareholder base.The CK Gold project represents one of the few fully permitted, shovel-ready gold-copper developments in North America. Having received final non-conditional mining permits in December 2024, US Gold Corp has eliminated a significant source of timeline uncertainty that affects competing projects. This permitting achievement, combined with the project's location just 20 miles from Cheyenne, Wyoming, provides practical advantages in accessing established infrastructure, skilled labour, and contractor services that should translate into lower capital and operating costs.The company expects to release its Definitive Feasibility Study (DFS) in late January or early February 2026, establishing the pathway to project finance. Executive Chairman Luke Norman outlined an 18-month timeline from financing to production, with first-year output forecast at 130,000 ounces gold and 24 million pounds copper. With gold prices exceeding $4,600 per ounce, project economics benefit materially compared to earlier technical assessments conducted at lower metal price assumptions.Management has identified multiple financing pathways reflecting strong global demand for gold-copper concentrates. The preference for debt financing aims to preserve the company's tight share structure, which provides significant operating leverage with a $330 million market capitalisation against a 1.7 million ounce reserve base. Potential financing structures include forward sales arrangements, concentrate offtake agreements, and traditional project debt, creating optionality in capital structure.Beyond the permitted reserve, US Gold Corp plans to commence drilling targeting an additional one million ounces below the current resource. With 80% of historical drilling bottoming in mineralisation, management estimates this exploration programme could add approximately one billion dollars in net present value. This drilling represents a strategic shift toward value optimisation now that economic viability and permitting have been established.The investment proposition centres on scarcity value within North American gold development opportunities. As major producers face declining reserve grades and extended permitting timelines, fully permitted projects in tier-one jurisdictions command premium valuations. US Gold Corp's combination of permits, institutional validation, infrastructure advantages, and tight share structure positions the company for potential multiple reratings throughout 2026 as it advances through definitive feasibility release, project financing, and construction commencement.The straightforward metallurgical flowsheet—crush, grind, flotation, and tri-stack processing—reduces technical execution risk, whilst the Wyoming location provides jurisdictional certainty and operational advantages. With institutional capital flowing into the gold sector and concentrate demand characterised as "insatiable," US Gold Corp offers investors exposure to near-term North American gold production with significant exploration upside and multiple catalysts ahead.View U.S. Gold's company profile: https://www.cruxinvestor.com/companies/us-gold-corpSign up for Crux Investor: https://cruxinvestor.com

Tonight on the KRBD Evening Report….The city council approves utility rate increases and how the state Department of Natural Resources is moving forward with its effort to overhaul how it manages one of Alaska's three state forests.

Interview with Richard Young, CEO, i-80 GoldOur previous interview: https://www.cruxinvestor.com/posts/i-80-gold-tsxiau-production-path-to-200000-ounces-8586Recording date: 16th January 2026Nevada-based i-80 Gold is executing an ambitious three-phase development plan to transform from a small producer into a mid-tier gold company, targeting production growth from under 50,000 ounces annually to over 600,000 ounces within six years. All five projects are brownfield developments at historic Nevada mines, offering reduced execution risk through existing permits and infrastructure.The company delivered five preliminary economic assessments in Q1 2025 and has raised approximately $300 million toward a targeted $900 million to $1 billion recapitalisation. Management expects to complete balance sheet restructuring by end of Q1 2026, which will enable full construction approval for the critical Lone Tree autoclave refurbishment project.The Lone Tree facility refurbishment represents a cornerstone investment, with total capital costs of approximately $430 million and completion scheduled for end of 2027. Once operational, the facility is projected to produce 200,000 ounces annually and generate $200-400 million in EBITDA at current gold prices. i-80 Gold will be one of only two companies operating an autoclave in Nevada.Project economics have improved substantially with higher gold prices. At $3,000 gold, the net asset value of the five projects was approximately $5 billion versus the company's current market capitalization of $1.3 billion fully diluted. At current gold prices above $4,600, NAV is estimated between $8-10 billion, with all-in sustaining costs averaging approximately $1,400 per ounce.The company has significantly strengthened its technical team and is advancing feasibility studies for multiple underground mines including Archimedes and Granite Creek. Management is also accelerating work on Mineral Point, the flagship asset capable of producing 300,000 ounces over a 17-year mine life, pulling development forward by approximately two years.Operating exclusively in Nevada provides advantages including world-class geology, skilled workforce, supportive regulatory environment, and the current macro environment featuring high gold prices without corresponding input cost inflation.Learn more: https://www.cruxinvestor.com/companies/i-80-goldSign up for Crux Investor: https://cruxinvestor.com

Interview with Philip Williams, Director & CEO of IsoEnergy Ltd.Our previous interview: https://www.cruxinvestor.com/posts/isoenergy-tsxiso-multi-jurisdictional-uranium-portfolio-8580Recording date: 15th January 2026IsoEnergy Ltd. (TSX:ISO) differentiates within the uranium sector through near-term production advancement at the Tony M project in Utah while maintaining exposure to ultra-high-grade exploration upside at the Hurricane deposit in Saskatchewan's Athabasca Basin. The company has commenced bulk sampling operations at Tony M, extracting approximately 2,000 tons of material for processing at the White Mesa Mill. This program validates three critical decision criteria for full-scale production restart: current operating costs for mining, trucking, and processing; updated capital requirements; and scalability of beneficiation techniques tested on smaller samples that could substantially reduce waste material sent to mill. The strategic toll milling arrangement with Energy Fuels' White Mesa Mill—the only operational conventional uranium mill in the United States—eliminates processing infrastructure capital while providing established metallurgical pathway, as the mill historically processed ore from Tony M during previous 2007-2008 production period. Tony M's existing surface and underground infrastructure substantially reduces restart capital intensity compared to greenfield mine development, positioning the project as IsoEnergy's primary near-term production opportunity. CEO Philip Williams emphasized the competitive advantage: "In our market cap range, there's not so many of them so we want to be one of those producers and be able to deliver material into a rapidly rising uranium price environment which we think is coming in the United States." Concurrently, IsoEnergy has mobilized two drill rigs to Hurricane for a winter campaign exceeding 5,000 meters. The program tests expansion potential within and adjacent to known ultra-high-grade mineralization, extending up to 3 kilometers along structural trend. Hurricane ranks among the world's highest-grade uranium deposits, with exceptional grade concentration reflected in small physical footprint relative to contained uranium. The exploration strategy follows the Athabasca Basin geological model where high-grade deposits form as multiple lenses along structural corridors, suggesting discovery potential for additional proximate ore zones.Portfolio diversification spans multiple development stages and top-tier jurisdictions. Beyond Tony M and Hurricane, IsoEnergy maintains the Coles Hill project in Virginia—a large-scale development opportunity potentially benefiting from federal policy support for domestic production—plus a 50% joint venture with Purepoint Energy exploring additional Athabasca Basin targets. The pending acquisition of Toro Energy, expected to close April 2026, adds Western Australian exposure and development-stage assets.IsoEnergy operates within a bifurcated uranium market where large-cap producers trade at premiums to net asset value while smaller companies trade at substantial discounts, creating consolidation conditions. The company's mid-tier market capitalization provides optionality as both potential acquirer of discounted junior assets and potential target for larger producers seeking high-grade Athabasca Basin exposure. NextGen Energy's 30% ownership provides strategic shareholder stability, while IsoEnergy maintains approximately $60 million in equity positions in smaller uranium companies.Management reports accelerating institutional investor engagement as the production timeline clarifies and uranium market fundamentals strengthen. The recent addition of commercial and marketing expertise signals preparation for uranium sales as production approaches. Near-term catalysts include the Tony M production restart decision following bulk sampling results, Hurricane drilling outcomes, Toro acquisition closure, and potential uranium import policy changes under the Section 232 investigation.Williams acknowledged uranium equity performance ultimately depends on physical price movement despite strong fundamentals: "The space can get ahead of the price for some period of time, but the price has to also move." However, when utility contracting accelerates—whether driven by policy changes, supply disruptions, or other factors—price movements can occur rapidly given concentrated uranium market structure.View IsoEnergy's company profile: https://www.cruxinvestor.com/companies/isoenergySign 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-major-projects-office-fast-tracks-crawford-build-8552Recording date: 14th January 2026Canada Nickel has achieved critical milestones positioning its Crawford nickel sulfide project for a construction decision by year-end 2026, securing both federal Major Projects Office designation in November 2025 and Ontario's "one project, one process" fast-track permitting status on January 13, 2026. These designations reflect coordinated government commitment to establishing domestic critical mineral supply chains independent of Chinese influence.The company has transformed the Timmins region into the world's largest nickel sulfide district, expanding from two resources at year-end 2024 to eight separate resources totaling over 20 million tons of contained nickel. The recently announced Reid deposit demonstrates superior economics with half Crawford's strip ratio, one-third less overburden, and 15% chromium content. CEO Mark Selby indicated the company has identified three to four additional deposits potentially offering higher value than the flagship Crawford project.Strategic validation comes from a diversified investor base including Anglo American, Agnico Eagle, Samsung SDI, and Taykwa Tagamou Nation, which invested $20 million directly. This cornerstone group spans major mining operators, battery supply chain participants, and Indigenous partners, demonstrating confidence across the value chain.Canada Nickel's downstream processing strategy targets 70-90 cent per pound North American premiums by converting concentrate into products for stainless steel and battery markets. This approach aligns with government priorities around value-added manufacturing while capturing sustained regional pricing advantages. The company has completed front-end engineering design with Hatch, moving beyond standard feasibility-level work to reduce execution risk.The 2026 timeline includes federal permit approval by mid-year, initial government funding announcements in Q1, and financing package completion by Q3. Ontario Minister Stephen Lecce publicly committed to "go full tilt to unlock one of the world's largest nickel deposits," representing invested political capital that reduces regulatory uncertainty. Combined with first-quartile cost positioning from iron and chromium byproducts, existing infrastructure, and an experienced local workforce, Crawford represents Canada's tactical execution of critical mineral supply chain independence.View Canada Nickel's company profile: https://www.cruxinvestor.com/companies/canada-nickelSign up for Crux Investor: https://cruxinvestor.com

Interview with Ryan King, EVP Capital Markets of Equinox GoldOur previous interview: https://www.cruxinvestor.com/posts/equinox-gold-tsxeqx-canadian-gold-giant-forms-in-merger-of-equals-with-calibre-mining-6826Recording date: 14th January 2026Equinox Gold concluded 2025 with record-breaking production of 920,000 ounces, including a quarterly high of 247,000 ounces in Q4, driven primarily by its ramping Canadian operations. The Greenstone mine in Northern Ontario demonstrated particularly strong momentum, increasing output by 29% quarter-over-quarter as the company transitions from construction to operational excellence.In a strategic pivot prioritizing quality over quantity, Equinox announced the sale of its four Brazilian mines for over $1 billion. These assets, producing 200,000-250,000 ounces annually, will be divested to reduce the company's $1.5 billion debt load by more than $800 million and refocus operations on tier-one North American jurisdictions. Executive Vice President Ryan King emphasized that management's expertise lies in optimizing large-scale open pit operations rather than managing multiple smaller mines.Production guidance for 2026 is set at 700,000-800,000 ounces with all-in sustaining costs of $1,800-1,900 per ounce. Canadian assets alone are expected to deliver 400,000-500,000 ounces at industry-leading margins, representing two-thirds of total output from the company's highest-quality operations.The company maintains a robust organic growth pipeline without requiring acquisitions. Castle Mountain in California is advancing through federal permitting with a decision expected in Q4 2026, potentially adding 200,000-225,000 ounces annually. The Los Filos expansion in Mexico could contribute 250,000-300,000 ounces yearly once community land access issues are resolved. Combined with phase 2 expansion opportunities at Newfoundland assets, these projects could add 450,000-700,000 ounces of annual production.Management is prioritizing operational execution and deleveraging over mergers and acquisitions, with the company potentially becoming nearly debt-free by year-end 2026. This improved financial position opens possibilities for shareholder returns through buybacks or dividends while maintaining a $300 million capital expenditure budget and $75-100 million exploration program focused on expanding resources at existing operations.View Equinox Gold's company profile: https://www.cruxinvestor.com/companies/equinox-goldSign up for Crux Investor: https://cruxinvestor.com

Interview with Mark Chalmers, President & CEO of Energy Fuels Inc.Our previous interview: https://www.cruxinvestor.com/posts/energy-fuels-nyseuuuu-completes-oversubscribed-700-million-funding-for-ree-uranium-duo-track-8223Recording date: 14th January 2026Energy Fuels CEO Mark Chalmers discusses the company's breakout 2025 performance as the best-performing uranium stock, with returns more than double its nearest competitor. This in-depth interview covers Energy Fuels' unique positioning as America's only integrated critical minerals platform, combining uranium production targeting 2+ million pounds annually with rare earth processing capabilities at the White Mesa Mill.Key discussion points include:- Uranium production ramp to 2M+ pounds and December's record 350,000-pound monthly output- White Mesa Mill's rare earth processing capabilities and recent IMREC circuit addition- Toliara project in Madagascar: world-class heavy mineral sands with $1.5B+ NPV- $700M convertible note at just 0.75% coupon—dramatically below competitor rates- Donald project and White Mesa upgrade feasibility studies expected Q1 2026- Government engagement on critical minerals security- Strong balance sheet with ~$1 billion cash providing development flexibilityView Energy Fuels' company profile: https://www.cruxinvestor.com/companies/energy-fuels

Interview with Mike Garbutt, President & CEO of Clean Air MetalsRecording date: 13th January 2026Clean Air Metals (TSXV:AIR) is advancing one of North America's rare primary platinum assets at a pivotal moment for the metal. The company's Thunder Bay North project in Ontario holds 14.9 million tons of indicated resource with a polymetallic composition including platinum, palladium, copper, nickel, gold, and silver. With an 11-year mine life processing 2,500 tons daily, the project's economics have transformed as metal prices surged.CEO Mike Garbett, who brings 14 years of operational experience from Falconbridge and project development expertise, explained the compelling market dynamics. "Platinum is an interesting case. It is a precious metal, but it has some great industrial use. The bottom line is it's a pretty small market, 6 to 7 million ounces, and there's a growing deficit, nearing a million ounces a year," he noted.The company's Preliminary Economic Assessment showed a post-tax NPV of CAD $219 million at 39% IRR using conservative metal prices. However, with spot prices approximately doubling since the study, Garbett stated they're now "looking at $700 million NPV at 8% discount rate and 100% IRR, just astronomical numbers."Management is pursuing a dual-track strategy for 2026. The primary path involves toll milling, which ships material to existing facilities and keeps upfront capital under CAD $100 million. Simultaneously, the company is evaluating a standalone mill option that could position the site as a regional processing center for northwestern Ontario.Recent exploration success strengthens the investment case. The company intersected 50 meters of mineralization 400 meters down plunge on the Escape deposit, validating targeting methodology across 2.5 kilometers of largely untested strike length. With approximately CAD $1 million in treasury, Clean Air Metals is pursuing strategic partnerships with mid-tier producers for non-dilutive financing while advancing technical studies and exploration permitting toward near-term production.View Clean Air Metals' company profile: https://www.cruxinvestor.com/companies/clean-air-metals-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-with-400-cash-flow-growth-8884Recording date: 14th January 2026Integra Resources has achieved a significant milestone for its DeLamar gold-silver project in Idaho through acceptance into the federal FAST-41 permitting program. This designation establishes a defined 15-month review timeline with the Bureau of Land Management targeting a record of decision in Q2/Q3 2027, providing unprecedented certainty for a US mining development.According to George Salamis, President and CEO of Integra Resources, "for the first time in DeLamar's history as our project, the US federal government has put our project on a clock and it's a fast clock, far faster than certainly anybody expected." The FAST-41 framework assigns a dedicated Federal Permitting Council advisor to coordinate inter-agency reviews while maintaining rigorous environmental standards through compressed response times rather than reduced scrutiny.A key feature of the designation is quarterly congressional accountability, with the assigned coordinator required to report directly to Congress on project progress and explain any delays. This oversight mechanism creates strong incentives for maintaining momentum while a public tracking dashboard allows shareholders to monitor advancement in real-time.The company has demonstrated effective regulatory collaboration, reducing the project footprint by 25% between preliminary and final feasibility studies through consultations with the BLM. Public hearings scheduled for spring 2026 will serve as the first formal litmus test for stakeholder acceptance, though extensive pre-engagement with Idaho stakeholder groups has already occurred.Salamis emphasised the capital planning benefits, noting that "these clear timelines for us equate to better capital planning, and the reduced risk for us means lower cost of capital ultimately to finance and build this project." The designation fundamentally addresses what Salamis identified as "the single biggest risk for new mines anywhere in the world, let alone the US"—permitting uncertainty—while Integra simultaneously advances required state-level permits for air quality, water quality, and cyanidation that must synchronise with the federal timeline.View Integra Resources' company profile: https://www.cruxinvestor.com/companies/integra-resourcesSign up for Crux Investor: https://cruxinvestor.com

Interview with Jason Jessup, CEO of Magna Mining Inc.Our previous interview: https://www.cruxinvestor.com/posts/magna-mining-tsxvnicu-permits-cash-and-polymetallic-grades-set-stage-for-rapid-growth-7927Recording date: 12th January 2026Magna Mining executed a remarkable transformation in 2025, evolving from a junior exploration company into a diversified base and precious metals producer focused exclusively on Ontario's Sudbury mining camp. The company's growth trajectory accelerated dramatically following its February 2025 acquisition of the McCreedy West copper mine from KGHM International, expanding its workforce from 25 to over 200 employees while establishing cash flow positive operations.McCreedy West reached a critical operational inflection point in Q4 2025, achieving three simultaneously active stopes that enable consistent production. The mine currently focuses on the high-grade 700 copper zone, though CEO Jason Jessup indicated the company is evaluating a restart of the Intermediate nickel zone if prices sustain above $7.75 per pound. This operational foundation positions the company for sustained cash generation in 2026.The company's Levack mine presents perhaps the most exciting near-term opportunity following the August 2025 R2 zone discovery. Results showed spectacular high-grade copper and precious metals intersections, with many delivering multiple ounces of precious metals alongside significant copper and silver grades. The geological team describes R2 as the upper branches of a system that could lead to much larger mineralisation at depth. A preliminary economic assessment expected in Q3 2026 will evaluate a dual-access strategy using both ramp and existing shaft infrastructure.Meanwhile, Crean Hill advances toward a prefeasibility study in 2026, with grid power connection and permanent dewatering infrastructure progressing. Unlike typical development projects, Magna has secured definitive offtake terms with Vale and favorable indications from Glencore based on bulk sample metallurgical testing, providing unusual commercial certainty.With over 500 square kilometers of prospective ground, $50 million in treasury, and proven M&A capabilities, Magna has positioned itself as the natural consolidator of non-core Sudbury assets. The company's polymetallic focus across copper, nickel, platinum, palladium, gold, and silver provides commodity diversification while capitalising on one of the world's most prolific mining districts.View Magna Mining's company profile: https://www.cruxinvestor.com/companies/magna-miningSign up for Crux Investor: https://cruxinvestor.com

What if your Australian Shepherd's biggest superpower isn't speed or herding instinct… but their nose? In this episode of The Instinctive Australian Shepherd, host Jacque Tinker sits down with Kallie Bongtrager, a Nursery Inspector and Compliance Officer with the Indiana Department of Natural Resources—and a handler who takes her working Aussies into the field to help detect one of the most disruptive invasive pests in the U.S.: the spotted lanternfly. Kallie shares what her job looks like on the ground—inspecting nurseries, tracking plant pests and pathogens, and responding to public reports—then takes us deep into the real-world process of training detection dogs on lanternfly egg masses (including the surprising challenges: "dead" vs. "live" eggs, changing scent over time, tiny odor cones, and why trust in your dog matters more than your eyes). You'll also meet her three Aussies: Que (retired, still brilliant, still hungry) Epic (the seasoned field dog with the "freeze-and-dance" alert) River (the young trainee learning the difference between "search" and "follow my footsteps") Along the way, you'll hear a jaw-dropping story about egg masses hidden inside a woodpecker hole and under bark—found by scent alone—plus a candid look at how conservation detection work is built through experimentation, mistakes, and miles. If you've ever wondered what "a real job" for an Aussie can look like outside the ranch—or you're looking for ways to channel that busy brain into meaningful work—this one will light you up. Topics include: conservation detection dogs, spotted lanternfly impact, training aids and scent tubes, field searches on the edge of infestations, handler trust, and why mental work can tire an Aussie better than endless fetch. www.theinstinctiveaussie.com  

Interview with Shane Williams, President & CEO, West Red Lake Gold MinesOur previous interview: https://www.cruxinvestor.com/posts/west-red-lake-gold-tsxvwrlg-cash-positive-miner-targets-100k-oz-by-2028-without-dilution-8551Recording date: 13th January 2026West Red Lake Gold Mines declared commercial production at its Madsen Gold Mine effective January 1, 2026, achieving this milestone just seven months after completing its bulk sample program. The mill averaged 689 tonnes per day in December 2025, representing 86% of permitted capacity with strong 94.6% recovery rates, producing 3,215 ounces of gold. This performance met the company's internal requirements of 30 consecutive days at 65% or greater throughput combined with operational stability.The company generated US$30 million in gold sales revenue during Q4 2025, selling 7,200 ounces at an average price of US$4,150 per ounce. For full-year 2025, Madsen poured 20,000 ounces generating US$73 million in revenue, with the company ending the year holding CAD$46 million in cash and gold receivables. Management confirms the operation is self-funding with positive monthly cash flow, eliminating future dilution risk.West Red Lake Gold is transitioning to higher-grade ore from the 4447 zone in South Austin, expecting Q1 2026 mill feed to average over 6 grams per tonne gold compared to 4.94 g/t in December. The company targets 800 tpd sustained throughput by mid-2026 while advancing multiple growth initiatives including the Fork deposit, newly identified 904 Complex, and shaft optimization studies that could significantly increase production capacity.—Learn more: https://www.cruxinvestor.com/companies/west-red-lake-gold-mines-incSign up for Crux Investor: https://cruxinvestor.com

Are you familiar with your local conservation district office? So you know about the initiatives they are leading? Wherever you are in the United States, discovering the work of your local Conversation District will tell you a lot about the issues are priorities in your area. Chandra Kinney, District Manager for the Kalamazoo Conservation District, sat down with us to talk about the local initiatives in our area. You won't be surprised to know that our county, in the southwest region of the Great Lakes state, has priorities related to wetlands, deer management, and agriculture - very relevant work that every Michigander can get behind. Participate in the next community assessment to keep the Conversation District's priorities relevant! Follow on Facebook or join their newsletter (link on their website) to be notified when the assessment opens.Kalamazoo Conservation District website: https://www.kalamazooconservation.orgFacebook page: https://www.facebook.com/KalamazooConservationDistrict

On Today's Episode –“Save Okefenokee Swamp From UNESCO Control,” Mark and Bonner talk about the 450,000 acres, designated as a wildlife refuge by President Roservelt, and located mostly in Georgia, but spreading as far south as Florida, that was nominated to become a UNESCO World Heritage Site, by the Biden Administration. Numerous GA. County commissioners and other concerned stakeholders who want to keep this wildlife refuge in American hands. Says one commissioner, "...more than anything, I don't like any organization that I would consider an entangling alliance. Many of the UNESCO members are adversarial nations. China, Afghanistan, Russia would sit around a table and potentially vote on what should be domestic issues....."Tune in for all the Funhttps://news.stanford.edu/stories/2018/11/stanford-scholar-examines-unescos-world-heritage-programBonner R. Cohen is a senior policy analyst with the Committee for a Constructive Tomorrow, where he concentrates on energy, natural resources, and international relations. He also serves as a senior policy adviser with the Heartland Institute, senior fellow at the National Center for Public Policy Research, and as adjunct scholar at the Competitive Enterprise Institute. Articles by Dr. Cohen have appeared in the Wall Street Journal, Forbes, Investor's Business Daily, New York Post, Washington Times, National Review, Philadelphia Inquirer, Detroit News, Atlanta Journal-Constitution, Miami Herald, and dozens of other newspapers in the U.S. and Canada. He has been interviewed on Fox News, CNN, Fox Business Channel, BBC, BBC Worldwide Television, NBC, NPR, N 24 (German language news channel), Voice of Russia, and scores of radio stations in the U.S. Dr. Cohen has testified before the U.S. Senate committees on Energy & Natural Resources and Environment & Public Works as well as the U.S. House committees on Natural Resources and Judiciary. He has spoken at conferences in the United States, United Kingdom, Germany, and Bangladesh. Dr. Cohen is the author of two books, The Green Wave: Environmentalism and its Consequences (Washington: Capital Research Center, 2006) and Marshall, Mao und Chiang: Die amerikanischen Vermittlungsbemuehungen im chinesischen Buergerkrieg (Marshall, Mao and Chiang: The American Mediations Effort in the Chinese Civil War) (Munich: Tuduv Verlag, 1984). Dr. Cohen received his B.A. from the University of Georgia and his Ph.D. – summa cum laude – from the University of Munich.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In this episode of Good Morning Liberty, host Nate welcomes Steve Gruber from Real America's Voice. They delve into Steve's background in politics and media, the evolution of trustworthy journalism, and the current state of media dishonesty. The discussion expands into Steve's career trajectory, the growth of his show, and the differentiation of independent media from mainstream narratives. Other key topics include the effectiveness and pitfalls of the U.S. healthcare system, government spending, and examples of fraud in federal programs. Additionally, the conversation covers energy policies, the impact of natural resources on national prosperity, and the strategic significance of territories like Greenland. Views on term limits, public sector unions, and fiscal policy are also debated, providing a comprehensive look at vital political issues. https://linktr.ee/SteveGruber https://www.youtube.com/@thestevegrubershow https://x.com/stevegrubershow 00:00 Intro 00:20 Steve Gruber's Background and Career Journey 03:42 Media Dishonesty and Free Speech 06:04 Climate Change and Media Narratives 09:02 Government Fraud and Mismanagement 21:26 Healthcare System Issues 28:35 Energy Policies and Natural Resources 33:53 American Energy and Environmental Standards 35:35 Critique of Anti-Nuclear Sentiments 38:20 Venezuela's Political and Economic Situation 47:34 Discussion on the Monroe Doctrine and Greenland 54:38 Debate on Government and Political Reforms

Interview with Joseph Ovsenek, President & CEO of Tudor GoldOur previous interview: https://www.cruxinvestor.com/posts/tudor-gold-tsxvtud-pitch-perfect-december-2025-8839Recording date: 9th January 2026Tudor Gold Corp. (TSXV:TUD) is progressing one of the largest recent gold discoveries through a critical development phase at its Treaty Creek project in British Columbia's Golden Triangle. The company is targeting release of an updated resource estimate by the end of January 2026, focusing on high-grade mineralisation within the existing 21.66 million ounce Gold Storm deposit.President and CEO Joseph Ovsenek outlined an ambitious dual-track strategy for 2026: refining the existing deposit's high-grade component while exploring for additional discoveries along the prospective Sulphurets Thrust Fault. The updated resource estimate targets more than 5 million ounces at grades exceeding 2 grams per ton gold, representing a fundamental shift toward concentration on the richest mineralisation suitable for underground mining.Following the resource update, Tudor plans to release a Preliminary Economic Assessment in Q3 2026, outlining economics for a potential 250,000-300,000 ounce per year operation from a 10,000 ton per day underground mine. "We feel Treaty Creek has the potential to be a 250-300,000 ounce gold producer. That's...for most major gold companies...a tier one asset," Ovsenek stated.A critical enabler of the development strategy involves transitioning to underground exploration. Tudor filed permits in August 2025 for an underground decline, expecting approval in 2026. Underground access would enable year-round drilling at approximately $200-225 per meter—half the cost of surface drilling—while tripling the effective drilling season from four months to twelve months annually.The company raised approximately $26 million in recent financings, with $16 million designated for flow-through exploration targeting 5-10 million additional ounces along underexplored portions of the property. Treaty Creek benefits from advantageous positioning just 40 kilometers from both paved highway and transmission line infrastructure, substantially reducing future development capital requirements compared to more remote Golden Triangle projects.With gold prices sustained above $4,500 per ounce, Tudor Gold's advancement of Treaty Creek positions the project as a potential tier-one asset in a favourable market environment for large-scale, long-life gold operations.View Tudor Gold's company profile: https://www.cruxinvestor.com/companies/tudor-goldSign up for Crux Investor: https://cruxinvestor.com

Recording date: 12th January 2026Olive Resource Capital delivered exceptional performance in 2025, reporting a 151% return after all fees and expenses, significantly outperforming commodity benchmarks despite maintaining only 50% precious metals exposure. The fund's diversified approach across gold, copper, and other commodities demonstrated the value of strategic stock selection during a favorable commodity cycle.Executive Chairman Derek Macpherson and President & CEO Samuel Pelaez announced the results in their January 12, 2026 investment update, highlighting December's 11% gain that capped a strong fourth quarter. The impressive investment performance translated directly to shareholder value, with the stock price appreciating 240% during 2025. This helped compress the fund's discount to net asset value from approximately 40% at year-start to an estimated 60-70% by year-end, though meaningful upside remains if shares continue converging toward full NAV.Looking ahead to 2026, management expects increased merger and acquisition activity driven by record free cash flow generation at major producers. Gold prices averaged $4,100-4,300 per ounce in Q4 2025, approximately $500 above Q3 levels, creating substantial acquisition capital. The combination of elevated commodity prices and three consecutive years of declining oil costs has expanded operating margins significantly across the sector.Key portfolio holdings exemplify Olive's investment thesis. K92 Mining produced 47,000 ounces in 2025 at 8 grams per tonne while advancing multiple expansion phases with internal funding. Ivanhoe Mines announced full financing for its Platreef PGM project's phase two expansion, targeting 450,000 ounces by late 2027 en route to becoming the world's largest primary platinum group metals operation. Arizona Sonoran Copper is negotiating to terminate joint venture encumbrances, potentially clearing obstacles for strategic alternatives.Management identified a valuation gap between gold producers trading at 7-12 times earnings versus the S&P 500's 13-14 times multiple, suggesting room for continued sector appreciation as generalist investors recognize improving fundamentals and robust cash generation across commodity producers.Sign up for Crux Investor: https://cruxinvestor.com

Interview with Hayden Locke, President & CEO of Marimaca Copper Corp.Our previous interview: https://www.cruxinvestor.com/posts/marimaca-copper-tsxmari-superior-grades-add-upside-to-december-2025-pea-target-8544Recording date: 9th January 2026Marimaca Copper enters 2026 positioned to transition from explorer to developer following three critical achievements in 2025. The company completed its Definitive Feasibility Study for the flagship Marimaca oxide project, demonstrating industry-leading capital costs under $600 million USD and competitive operating metrics. Environmental approval was secured, clearing a major permitting hurdle that often delays mining projects. Most significantly, the company made what CEO Hayden Locke describes as a potential tier-one discovery at Pampa Medina, containing multiple million tons of copper across a 3-kilometer by 1.5-kilometer mineralized area.The company raised $80 million CAD in oversubscribed financing from Australian and US investors, providing comfortable runway through detailed engineering without near-term dilution concerns. Management plans to pursue construction financing throughout 2026 while prioritising shareholder-friendly structures. This financial cushion allows the team to focus on engineering maturity and robust risk management systems before committing significant capital.Marimaca's development philosophy emphasises operational simplicity over engineering elegance. As a first-time builder, management is willing to sacrifice marginal capital savings if cost reductions materially increase operational risk. The company plans to spend 2026 increasing engineering detail and implementing monitoring systems capable of tracking daily progress, spending, and budget variances. This measured approach targets build-ready status by late 2026, resisting pressure to rush production despite favorable copper markets.The Pampa Medina discovery validates a two-pronged growth strategy. The oxide portion offers near-term expansion potential, growing production from 50,000 to 70-75,000 tons of copper cathode annually. Every drill hole across 20-plus attempts has hit mineralised sedimentary horizons, representing an exceptional exploration hit ratio. The broader sulfide resource provides longer-term strategic upside, though development will naturally lag several years behind the main oxide project.With copper prices strengthening significantly above the DFS assumption of $4.30 per pound, Marimaca benefits from favorable market timing as global electrification drives structural demand growth while new supply remains constrained. The company's disciplined capital approach and focus on execution quality position it to navigate the challenging transition from developer to producer while maintaining the operational robustness necessary for long-term success.View Marimaca Copper's company profile: https://www.cruxinvestor.com/companies/marimaca-copperSign up for Crux Investor: https://cruxinvestor.com

Interview with Dan Noone, CEO of G2 Goldfields Inc.Our previous interview: https://www.cruxinvestor.com/posts/g2-goldfields-tsxgtwo-high-grade-gold-developer-targets-imminent-strategic-exit-7459Recording date: 7th January 2026G2 Goldfields represents a rare opportunity to invest in a first-quartile gold development asset trading at a substantial discount to fair value. The company's initial Preliminary Economic Assessment for the Oko project in Guyana has validated exceptional economics that position it among the highest-quality undeveloped gold deposits globally.The PEA outlines a 14-year mine producing 3.2 million ounces of gold with average annual production of 281,000 ounces. At $3,000 gold, the project delivers net present value of $2.6 billion, 39% internal rate of return, and 2.6-year payback against initial capital expenditure of $664 million. The capital intensity ratio of 3.9 substantially exceeds comparable projects and reflects the compounding advantages of high-grade resources averaging 3.2-3.3 grams per tonne with underground zones exceeding one ounce per tonne.What differentiates successful gold development stories from value traps is the pathway to systematic risk reduction. G2 has identified four key de-risking milestones for 2026: environmental permitting advancement, metallurgical confirmation, resource conversion drilling, and geotechnical studies. The permitting timeline of 24-30 months has been de-risked by neighbouring G Mining's 23-month experience at Oko West, whilst Guyana's improving regulatory framework reflects the country's economic diversification through offshore oil development.The 2026 drilling programme prioritises conversion of inferred resources to indicated category, focusing on early mine life production ounces and the high-grade underground zones that drive project economics. Management estimates approximately 70% of ounces reside in roughly 40% of the rock, highlighting the high-grade nature that makes resource definition particularly valuable.G2 currently trades at approximately 0.5 times net asset value compared to the historical average of 1.0 times NAV for first-quartile assets approaching development. This valuation gap represents quantifiable upside as de-risking milestones are achieved throughout 2026. Historical takeover premiums for first-quartile gold assets have averaged 1.7x NAV, creating additional acquisition potential from mid-tier and major producers seeking high-margin reserve replacement.The investment thesis strengthens considerably when considering current gold price dynamics. At $4,000 gold, project NPV increases to $4.2 billion with 54% IRR and two-year payback. With gold currently trading above $4,500 per ounce, supported by monetary policy uncertainty and geopolitical tensions, the project's economics substantially exceed the conservative base case assumptions.Management credibility is established through CEO Dan Noone's successful delivery of the Aurora mine in 2014 for $258 million, demonstrating capability to execute projects on budget in frontier jurisdictions. The team is augmenting technical capabilities with experienced mining engineers whilst engaging specialised consultants for detailed engineering and permitting work.Near-term catalysts include updated resource estimates and economics by year-end 2026, environmental permitting milestones within 12-15 months, and quarterly drill results. For investors seeking exposure to high-quality gold development with quantifiable valuation upside, proven de-risking pathway, and leverage to strong gold fundamentals, G2 Goldfields offers a compelling risk-reward proposition within the precious metals sector.View G2 Goldfields' company profile: https://www.cruxinvestor.com/companies/g2-goldfieldsSign up for Crux Investor: https://cruxinvestor.com

Interview with Ippolito Ingo Cattaneo, CEO of Ajax ResourcesRecording date: 9th January 2026Ajax Resources plc, a London-listed natural resources investment company with a £6 million market capitalisation, has positioned itself as an opportunistic acquirer of undervalued South American mining projects. With £2.5 million in cash and a portfolio spanning Argentina and Brazil, the company is executing a strategy centred on acquiring technically advanced assets at significant discounts to their historical expenditure.CEO and largest shareholder Ippolito Ingo Cattaneo, who owns 18.38% of the company, explained the investment thesis: "The goal is to focus on assets that have a high historical expenditure. We acquire projects that have a latent value which simply hasn't been realised and opportunistically acquire them from companies that may have undergone board changes, strategy changes or are simply not performing."The company's flagship Eureka copper-gold project in Jujuy Province, Argentina, exemplifies this approach. Despite 400 years of artisanal mining history, the project has never been drill-tested with modern methods. Ajax acquired all 12 licenses from Bezant Resources for just £170,000—a fraction of the $8 million paid in 2010. Equipment is currently being mobilised for a 1,500-meter initial drilling program, with a maiden JORC-compliant resource estimate targeted for mid-2026.The recent acquisition of the Pereira Velho gold project from Appian Capital Advisor provides strategic validation. Appian, a major private equity group specialising in mining investments, accepted predominantly equity consideration and will become a significant shareholder—an unusual arrangement that endorses Ajax's capabilities. The project sits 20 kilometers from the Serrote mine, which Appian sold in May 2025 for $420 million after acquiring it for $30 million in 2018.Ajax's board-driven structure, with directors predominantly compensated in equity rather than cash, aligns management incentives with shareholder value creation. The company has raised approximately £3.6 million across three funding rounds since 2022, with the board consistently contributing significant capital. Cattaneo's ambitious target is clear: transform Ajax from its current £6 million valuation to a £100 million market capitalisation through disciplined execution and near-term production, leveraging Argentina's political transformation under President Milei and favorable copper market fundamentals.Sign up for Crux Investor: https://cruxinvestor.com

Interview with Dylan Langille, VP Exploration of White Gold Corp.Our previous interview: https://www.cruxinvestor.com/posts/white-gold-corp-tsxvwgo-23m-financing-funds-major-drill-program-at-yukon-gold-project-8485Recording date: 8th January 2026White Gold Corp is embarking on an aggressive expansion program under new exploration leadership, targeting significant growth of its 3-million-ounce gold resource across a vast 300,000-hectare land package in west-central Yukon. The junior explorer has recruited Dylan Langille, who brings proven discovery credentials from seven years at Kinross's Great Bear project, where he helped grow the resource from 5 million to 7 million ounces following the company's $1.8 billion acquisition.The company recently secured $23 million in financing to fund 25,000 to 30,000 meters of drilling in 2027—representing 30% of all historical drilling across its four flagship deposits. This program focuses exclusively on resource expansion rather than infill, with Langille emphasizing that "2026 is going to be focused strictly on growth." The strategy reflects management's assessment that demonstrating scale potential takes precedence at this stage, particularly given the limited drilling to date. Golden Saddle, which contains 2.1 million ounces, has only 60,000 meters of drilling, while Arc has been tested to just 120 meters vertical depth across a 1.5-kilometer strike length.A key near-term catalyst is the maiden preliminary economic assessment expected in the first half of 2027, driven by Golden Saddle's high-grade core containing 1.1 million ounces at 3 grams per ton and 700,000 ounces at 5 grams per ton. This exceptional grade is expected to support robust economics even before the planned resource expansion.White Gold also benefits from significant infrastructure developments in the district. Neighboring Fuerte Metals plans a production decision by 2027 at its Coffee deposit, including road construction through White Gold's property portfolio. This infrastructure fundamentally changes the economic equation for satellite discoveries, potentially enabling toll-milling arrangements that make smaller deposits economically viable.The company's systematic approach to district-scale consolidation positions it to unlock value in a historically productive but technically underexplored region that has produced over 25 million ounces of placer gold.View White Gold's company profile: https://www.cruxinvestor.com/companies/white-gold-corpSign up for Crux Investor: https://cruxinvestor.com

Interview with Gerald Panneton, Executive Chairman of Gold Terra Resource Corp.Our previous interview: https://www.cruxinvestor.com/posts/gold-terra-resources-tsxvygt-resource-update-pea-in-612-months-ahead-of-newmont-option-8117Recording date: 7th January 2026Gold Terra Resources is advancing a compelling high-grade gold opportunity in Canada's historic Yellowknife district, where the Campbell Shear system produced 14 million ounces at 14-22 grams per tonne before shutting down in 2003 at $340 gold. With gold now exceeding $4,400 per ounce, CEO Gerald Panneton is executing a strategic pivot that transforms previously sub-economic mineralization into a robust production opportunity.The company is positioning to acquire the Con Mine by 2027, leveraging critical infrastructure advantages including existing mining lease and surface rights that eliminate major permitting hurdles. Gold Terra has identified approximately one million ounces at 5-7 g/t between surface and 1,000 meters by re-evaluating historical drilling with lower cutoff grades that remain economically robust at current prices. Key target areas include the Yellorex zone with 500,000-700,000 ounces and Zone 103 with another 500,000 ounces - both areas that were considered sub-economic when the mine closed.The 2026 execution plan centers on systematic de-risking through 15,000 meters of drilling focused on resource conversion and expansion, with an updated mineral resource estimate targeted for September and a preliminary economic assessment by year-end. The conceptual operation would process 2,000 tonnes per day, producing approximately 140,000 ounces annually with breakeven costs estimated at $1,500-$2,000 per ounce - implying margins exceeding $2,000 per ounce at current gold prices.Blue-chip mining investors including Eric Sprott, David Harquail, and Mackenzie Funds have validated the strategy through a recent $7 million financing, with 95% participation from existing shareholders. The company has already invested $20 million in 30,000 meters of drilling, establishing a substantial technical database.Panneton, who developed the Detour Lake mine into a 30-million-ounce discovery, projects that Gold Terra could achieve billion-dollar market capitalization as a cash-flowing producer by 2029-2030, representing substantial upside from current valuation of approximately $30 per ounce of resources.View Gold Terra's company profile: https://www.cruxinvestor.com/companies/gold-terra-resource-corpSign up for Crux Investor: https://cruxinvestor.com

Interview with Tim Crossley, MD of Adyton Resources Corp.Our previous interview: https://www.cruxinvestor.com/posts/adyton-resources-ady-gold-copper-with-near-term-production-2290Recording date: 7th January 2026Adyton Resources (TSXV:ADY) is executing a differentiated strategy in Papua New Guinea's gold sector that combines near-term production with significant exploration upside. Managing Director Tim Crossley, who brings extensive operational experience from BHP and over a decade of PNG-specific expertise, has structured the company to advance on two parallel tracks without compromising either objective.'The cornerstone of this approach is an innovative joint venture structure on Fergusson Island with East Vision Investment Holdings, a Singaporean-Chinese group that recently completed a 50-megawatt hydropower project in PNG. This asset-level JV fully funds development to production, with East Vision earning into 50% ownership by meeting milestones. The initial target is the Wapolu project, a former producing mine with existing infrastructure including tailings impoundments, airstrip, and wharf facilities. Production is targeted for October 2026 at approximately 15,000 ounces annually, with the higher-grade Gameta project following 12-15 months later to bring total production to over 80,000 ounces per year.Critically, this JV-funded production pathway preserves Adyton's entire balance sheet for exploration at Feni Island, the company's flagship asset. Following a CAD$20 million raise in August 2025, the company has deployed over 8,000 meters of drilling since March, testing targets across a whole-of-island land package in what Crossley describes as "a 120 million ounce discovery belt" between Lihir and Bougainville. A mineral resource estimate update is planned for late 2026, with the ultimate goal of proving a 5+ million ounce resource with copper credits.The island-based operations provide distinct advantages: barge mobilisation eliminates helicopter costs, and ocean transit requires no customary landowner consents, simplifying social license compared to mainland operations. With Fergusson cash flows potentially funding continued Feni exploration without further dilution, Adyton is positioning itself to transition from explorer to producer while maintaining substantial discovery optionality in one of the world's most prospective gold belts.View Adyton Resources' company profile: https://www.cruxinvestor.com/companies/adyton-resources-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-growing-gold-producer-with-63m-treasury-8093Recording date: 5th January 2026Integra Resources has successfully completed its transformation from developer to established gold producer, delivering a 400% increase in adjusted cash flow year-over-year during 2025 while consistently meeting production guidance across four consecutive quarters at its Florida Canyon operation in Nevada's Great Basin.CEO George Salamis outlined how 2025 focused on stabilizing the asset after years of underinvestment by previous owners, addressing deferred maintenance through fleet equipment replacement, water infrastructure development, and catch-up capitalized stripping work. "We made that transition in late 2025, transitioning from sort of pure developer to cash flow and producer. And I think we proved that throughout the course of the year," Salamis explained.The company's mid-2026 feasibility study for Florida Canyon will demonstrate significant expansion potential, incorporating exploration success, mine life extension, and approximately 50 million tons of previously uneconomic low-grade stockpile material now viable at current gold prices. This material's proximity to heap leach pads eliminates costly multi-kilometer haulage distances, creating meaningful operational efficiencies.DeLamar, Integra's flagship development project, advanced substantially with delivery of a robust feasibility study showing $775 million base case NPV ($1.8 billion at spot prices) and 46% after-tax IRR. The simplified two-phase heap leach design reduces upfront capital requirements and development risk compared to the previous single-pad configuration. The project enters federal NEPA permitting in 2026, with management expecting significantly shorter timelines than historical 2-3 year durations due to the current administration's focus on accelerating domestic mining approvals.Nevada North, located just 26 miles from Florida Canyon, will advance from preliminary economic assessment to pre-feasibility study during 2026, offering additional growth optionality with infrastructure synergies.Integra's self-funding capability from Florida Canyon operations eliminates dilution concerns while enabling simultaneous advancement of its three-asset portfolio, positioning the company as a multi-asset gold producer in one of North America's premier mining jurisdictions.View Integra Resources' company profile: https://www.cruxinvestor.com/companies/integra-resourcesSign up for Crux Investor: https://cruxinvestor.com

Recording date: 28th December 2025Samuel Pelaez, President & CEO, and Derek Macpherson, Executive Chair, at Olive Resource Capital conducted a comprehensive year-end review of their investment decisions spanning July 2024 through September 2025, providing transparent insights into both successful calls and missed opportunities during a significant precious metals bull market.The portfolio's standout performer was Omai Gold Mines, delivering a 10x return from an initial $0.125 position established in July 2024. Pelaez emphasized that success stemmed not merely from stock selection but from conviction-based holding through the development phase. "We had conviction for it as well, right? We held," Macpherson explained, highlighting their philosophy of establishing positions in quality juniors before momentum develops rather than chasing running stocks.Mid-tier producers with embedded growth optionality proved highly profitable. K92 Mining, Aris Mining, and AngloGold Ashanti each delivered 220-260% returns, outperforming the GDX benchmark's 130% gain by a 2:1 ratio. These companies shared underappreciated expansion projects with capital already invested that markets had failed to recognize.Post-U.S. election investments capitalized on anticipated permitting improvements. Arizona Sonoran Copper appreciated from $1.29 to over $5.00, while AngloGold Ashanti surged from $21 to $91—a remarkable 300% return on a multi-billion dollar company.The managers candidly acknowledged execution shortfalls. They missed substantial returns on Fresnillo, which appreciated 500% after they correctly identified it as undervalued but failed to act. Position sizing emerged as a recurring issue, with inadequate allocations to highest-conviction names limiting overall portfolio impact.Olive's perpetual capital structure proved advantageous during April 2025's tariff-related volatility. Without redemption pressures, the managers deployed cash opportunistically during market dislocations, capturing the subsequent rally that traditional funds missed.Macpherson cautioned against overconfidence: "It's very easy when you get into a market like this to confuse a bull market for brains." Both managers emphasized systematic portfolio review as essential for understanding investment discipline, risk tolerance, and identifying areas for improvement in future market cycles.Sign up for Crux Investor: https://cruxinvestor.com

Interview with Tara Christie, President & CEO of Banyan Gold Corp.Our previous interview: https://www.cruxinvestor.com/posts/banyan-gold-tsxvbyn-high-grade-explorer-attracts-institutional-interest-with-76m-oz-resource-7940Recording date: 30th December 2025Banyan Gold (TSXV:BYN) has emerged as a compelling opportunity in North America's gold development space, hosting 7.6 million ounces across 2.2 million indicated and 5.4 million inferred resources at its road-accessible AurMac project in Canada's Yukon Territory. The company closed 2025 with nearly $40 million in treasury following strategic financings, including backing from Peruvian mining family Alpayana, positioning it to execute an aggressive 40,000-meter drill program in 2026 at efficient costs of $350 per meter.Management implemented a transformative geological model in 2025 that identifies predictable high-grade zones exceeding 1 gram per ton gold. This technical advancement enables focused drilling on areas that will drive early mine economics through starter pits, converting previously classified waste blocks to ore while expanding deposit boundaries. The company shifted its development strategy from heap leaching to conventional milling with gravity-CIL processing, delivering 93% recovery rates and reducing technical risk for future partners.A preliminary economic assessment scheduled for second half 2026 represents a critical milestone, utilizing gold price assumptions around $3,000 per ounce versus the $2,050 used in current resource estimates. This higher pricing could substantially expand pit shells and highlight project economics at a time when major producers desperately need large-scale assets in secure jurisdictions.An unexpected silver discovery adds further upside, with intercepts reaching 14 kilograms per ton within broader high-grade zones. With silver trading at multi-year highs, this mineralization could materially enhance project value.Trading at approximately 0.16 times net asset value compared to peer averages of 0.4, Banyan presents significant valuation upside. The combination of existing infrastructure including hydroelectric power, a mining-friendly Yukon government, district-scale potential, and completed metallurgical derisking positions the company as an attractive M&A candidate for majors seeking reserve replacement in Tier 1 jurisdictions.View Banyan Gold's company profile: https://www.cruxinvestor.com/companies/banyan-gold-incSign up for Crux Investor: https://cruxinvestor.com

Recording date: 23rd December 2025Olive Resource Capital executives are positioning against consensus views heading into 2026, predicting commodity strength driven by unprecedented fiscal stimulus rather than the widely anticipated recession that has dominated economic forecasts for three consecutive years.Sam Pelaez, President, CEO, and CIO, identified oil as his top commodity performer despite—or rather because of—overwhelming bearish sentiment. With Atlanta Fed GDP tracking above 3%, Federal Reserve liquidity injection, and Chinese expansionary fiscal policy, Pelaez argues the global economy will surprise to the upside. He characterised oil as "the most hated commodity" trading in oversold conditions, positioning it for recovery as excessive negative positioning unwinds against improving fundamental backdrop.Executive Chairman Derek Macpherson selected platinum as his best performer, citing structural market deficits and anticipated regulatory shifts. The critical catalyst involves potential rollback of electric vehicle mandates eliminating internal combustion engines by 2030-2035. Such policy reversals would extend ICE production timelines, directly supporting platinum demand through catalytic converter applications in a tight, supply-constrained market.In their most controversial prediction, both executives identified silver as likely to disappoint relative to extremely bullish expectations. Pelaez noted that 25-year volume-weighted data suggests silver has already corrected to average levels, with the biggest move occurring over the past eight weeks. He anticipates commodity leadership rotating from precious metals to industrial commodities as economic growth accelerates, reducing speculative interest in silver despite positive underlying fundamentals.The executives' no-recession call underpins their constructive commodity stance. Macpherson emphasized unprecedented government deficit spending globally—China's trillion-dollar stimulus, aggressive US spending, European defense funding—combined with Federal Reserve rate cuts creates liquidity-driven conditions favouring commodity performance. He stated this liquidity flow makes recession unlikely despite three years of predictions, instead creating stagflation environment supporting material demand.Specific equity opportunities include Ivanhoe Mines as top portfolio performer, offering exposure to one of the world's five largest copper mines with smelter entering commercial production this quarter, plus PGM phase one commissioning and premier zinc deposit. Pelaez highlighted severe scarcity of investable copper opportunities enhancing Ivanhoe's positioning.Merger and acquisition targets identified include Arizona Sonora in copper, where Rio and Hudbay involvement creates competitive tension and neighbour Ivanhoe Electric requires the asset for project viability. In gold, Aurion Resources adjacent to Rupert Resources in Finland faces increasing opportunity cost of inaction after 24 months without transaction. CANEX Metals pursuing hostile merger with Gold Basin neighbour represents classic merger arbitrage opportunity with potential dollar valuation from current 15-16 cent levels.Contrarian dark horse positions suggested in deeply depressed nickel and lithium markets, where extreme bearish sentiment and technical oversold conditions may create rebound opportunities despite uncertain fundamental timing.Geopolitical wild card involves potential Ukraine peace resolution, which executives believe would trigger reconstruction-driven commodity demand surge rather than market weakness from returning Russian supply. They note Russian oil already trades globally at discounts, suggesting peace could actually tighten markets as Russia reprices exports.The Olive Capital framework prioritises positioning against sentiment extremes—buying oversold energy whilst tempering precious metals expectations—rather than confident directional forecasts, explicitly acknowledging uncertainty whilst providing actionable investment thesis for navigating 2026 commodity markets.Learn more: https://cruxinvestor.comSign up for Crux Investor: https://cruxinvestor.com

Recording date: 17th December 2025Olive Resource Capital's leadership team has delivered a nuanced precious metals outlook for 2026 that challenges conventional wisdom whilst identifying specific opportunities backed by fundamental analysis. In this latest Compass podcast, President and CEO Sam Pelaez alongside Executive Chairman Derek Macpherson presented a framework emphasizing selectivity over broad-based precious metals enthusiasm.The firm's highest-conviction call centres on platinum, which Macpherson identified as his top commodity pick for 2026. The case rests on three pillars: persistent market deficits, tight physical supply, and anticipated policy shifts. "The market's in deficit. It's a small market and it's tight," Macpherson explained, before highlighting a critical catalyst: "I think we're going to see some of these EV mandates are going to get rolled off. More ICE engines by 2030 or 2035 are going to evaporate." This reassessment of aggressive electric vehicle timelines supports continued internal combustion engine production, sustaining autocatalyst demand for platinum and palladium. Olive maintains significant positioning in the PGM complex to capture this opportunity.The macroeconomic foundation underpinning precious metals remains robust despite consensus recession fears. Pelaez articulated the firm's contrarian economic view: "I think the global economy surprises to the upside. The general consensus is bearish. The GDP now for the Atlanta Fed is over 3%. The Treasury and the Fed are injecting liquidity right now. China is on an expansionary fiscal policy." Macpherson reinforced this perspective, noting unprecedented global deficit spending: "China's got a trillion dollars worth of stimulus, the US is spending money like it's going out of style. The Europeans all went into deficit spending to fund their defense efforts."This liquidity-driven environment creates favourable conditions for hard assets, though Olive's leadership expects commodity market leadership to potentially rotate from precious towards industrial metals. Gold maintains its portfolio role despite moderated return expectations following 2025's exceptional 60% advance, with Pelaez noting that reduced speculation in precious metals need not preclude continued gold strength supported by central bank buying and monetary accommodation.Perhaps most controversially, both executives expect silver to disappoint investors in 2026 despite positive fundamentals. Pelaez explained: "Every person on the planet seems to be uber-ultra-mega bullish silver. I'm not saying I think silver is going to go down necessarily, but it's going to be the most disappointing because the expectations for it are so high." Technical analysis suggests silver "has already corrected up to the average" based on 25 years of volume-weighted data against gold, with "the biggest move in silver" having "already occurred literally over the past eight weeks."Macpherson acknowledged tactical opportunities, expecting a "blowoff top in silver at a higher price than where we are right now," but anticipates year-end underperformance following silver's characteristic pattern of spiking then rolling off. Olive maintains silver exposure to capture near-term momentum whilst preparing to reduce positions.The firm's strategy emphasises diversified mining equities as preferred investment vehicles, highlighting Ivanhoe Mines with its PGM production "coming online at a perfect time when the market is moving higher." This approach provides leveraged precious metals exposure whilst managing single-commodity risk through companies with multiple revenue streams and operational catalysts.Learn more: https://cruxinvestor.comSign up for Crux Investor: https://cruxinvestor.com

Interview with Peter Akerley, President & CEO of Erdene Resource Development Corp.Our previous interview: https://www.cruxinvestor.com/posts/erdene-resource-development-tsxerd-fulfills-first-gold-pour-in-mongolias-bayan-khundii-8096Recording date: 12th January 2026Erdene Resource Development achieved first gold production at its Bayan Khundii mine in southwestern Mongolia during Q3 2025, marking a significant milestone for the junior miner. The company completed the $115 million construction in 22 months, meeting both timeline and budget targets despite operating in what was previously considered a challenging infrastructure environment.The plant has reached nameplate capacity of 1,950 tons per day, currently processing material at approximately 2 g/t. Erdene is systematically increasing feed grades toward the 3.8 g/t reserve grade, targeting commercial production declaration by April 2026. The company transitioned from bulk mining during commissioning to selective high-grade operations, though technical refinements continue around blasting optimization and material handling.The operating subsidiary carries $123 million in debt, comprising a $50 million commercial loan and approximately $60 million in shareholder loans from partner Mongolian Mining Corporation. Despite debt service obligations, partners approved a $10 million exploration budget for 2026, reflecting confidence that operations have achieved self-sustaining status.Erdene's growth pipeline includes the Dark Horse satellite deposit containing 48,000 ounces at 7 g/t, scheduled for year-three production. The company is evaluating plant expansion options including gravity circuit additions and heap leach processing for oxide material. Major development projects include the Altan Nar gold-copper project advancing toward feasibility over three years and the Zuun Mod molybdenum-copper system delivering a preliminary economic assessment by mid-2026.The strategic context has improved significantly since project conception. Infrastructure constraints that historically challenged southwestern Mongolia are being resolved through Chinese border power connectivity and road construction. Gold prices above $2,600 versus the $1,860 reserve base definition create substantial margin expansion potential, while lower cutoff grades expand the economic envelope across multiple deposits. CEO Peter Akerley describes the strategy as building "a new minerals district in southwestern Mongolia that ultimately will be a multi-mine producer of multiple commodities."View Erdene Resource Development's company profile: https://www.cruxinvestor.com/companies/erdene-resource-developmentSign up for Crux Investor: https://cruxinvestor.com

Interview withStefan Gleason, CEO of Money Metals ExchangeNick Smart, Director & CEO of ValOre MetalsRecording date: 7th January 2026Platinum group elements have emerged from years of undervaluation into what industry executives describe as a fundamental supply-demand inflection point. The second half of 2025 witnessed platinum prices nearly double, driven by structural changes across industrial, jewelry, and investment demand against severely constrained supply. For investors seeking precious metals exposure with distinct fundamentals from gold, the platinum story presents a compelling case rooted in geological scarcity, industrial necessity, and market imbalances forecast to persist through 2030.The supply challenge stems from extreme geological concentration combined with economic realities. While platinum occurs in earth's crust at similar abundance to gold—a few parts per billion—concentrated economic deposits are far scarcer. Global primary platinum production totals just 6 million ounces annually versus 120-130 million ounces for gold. More critically, 90% of platinum reserves sit within South Africa's Bushveld Complex, where aging deep-level underground mines face rising costs and operational difficulties. Outside South Africa, platinum production occurs primarily as a mining byproduct, meaning supply cannot respond to price signals. As Stefan Gleason, CEO of Money Metals Exchange notes, even prices ten times higher won't trigger meaningful supply responses given massive underinvestment and geopolitical constraints.Demand dynamics have shifted dramatically across three sectors. Industrial demand is strengthening contrary to earlier electric vehicle projections, with 75% of new US vehicles remaining internal combustion engines while hybrids—which consume more platinum and palladium than conventional engines—represent the fastest-growing automotive segment globally. Major manufacturers like Ford and Volkswagen are shifting production lines toward hybrids due to superior profit margins and customer acceptance. Nick Smart, CEO of ValOre Metals and a 21-year Anglo American veteran, emphasizes this durability stems from infrastructure limitations and automotive economics.The jewelry sector presents another growth vector as gold reaches twice platinum's price—a relationship inverted only in the past decade. Manufacturers and consumers in India and China are shifting to platinum for cost relief while maintaining luxury appeal, with platinum offering white gold substitution at less than half gold's cost. Investment demand, while currently small at roughly 1% of precious metals sales, is maturing rapidly. China has opened platinum hedging markets, creating what Gleason describes as "a three-way pull" between London shortages, US inventory builds, and new Chinese infrastructure.Physical market stress signals are acute. Above-ground inventories have fallen below six months of supply—what Gleason characterizes as "totally unsustainable." London financing shortages have driven lease rates to 12-15% annualized, creating cascading effects across refineries, users, and producers. The entire above-ground platinum supply could be absorbed with just $6 billion in capital.Looking forward, market forecasts project persistent deficits of approximately 700,000 ounces annually through 2030 against total production of 6 million ounces, even accounting for all known development projects. Ivanhoe's Platreef Mine represents the only recently commissioned PGE project, taking decades to reach its 300,000-ounce phase one capacity. Smart acknowledges the difficulty: "It's very difficult to see how that deficit gets bridged."For investors, the investment thesis centers on structural supply-demand arithmetic rather than speculative narratives. The combination of geological concentration, years of underinvestment, resilient automotive demand, jewelry substitution, and emerging investment infrastructure creates conditions for sustained revaluation. Recommended allocation strategies include 1-2% of precious metals holdings through physical platinum for long-term holding or mining equities focused on projects outside South Africa for geographical diversification.Learn more: https://cruxinvestor.comSign up for Crux Investor: https://cruxinvestor.com

With President Trump's moves to take control of Venezuela's oil production—including the seizure of incoming and outgoing oil tankers—there's been a lot of talk about the country's deep reserves of crude. But not all oil is the same, and getting the Venezuelan reserves out of the ground might be neither cheap nor simple. So who wants that oil, and what is it good for?Petroleum engineer Jennifer Miskimins joins Host Ira Flatow to drill into the ABCs of oil production and refining.Guest: Dr. Jennifer Miskimins is 2026 president of the Society of Petroleum Engineers, and head of the petroleum engineering department at the Colorado School of Mines in Golden, Colorado.Transcripts for each episode are available within 1-3 days at sciencefriday.com. Subscribe to this podcast. Plus, to stay updated on all things science, sign up for Science Friday's newsletters.

Interview with Joseph Ovsenek, President & CEO of P2 Gold Inc.Our previous interview: https://www.cruxinvestor.com/posts/p2-gold-tsxvpgld-pitch-perfect-december-2025-8840Recording date: 11th January 2026P2 Gold Inc. (TSXV: PGLD) represents a compelling Nevada gold-copper development opportunity distinguished by experienced management, near-term production timelines, and substantially improved project economics under current commodity prices. The company is advancing its Gabbs project toward a 2028 first gold pour - less than three years from present - leveraging Nevada's efficient permitting framework and a management team with demonstrated capability in compressed project execution.The management team, led by President and CEO Joseph Ovsenek, brings over 20 years of collective experience including taking Pretium Resources' Brucejack project from discovery to cash-flowing production in under eight years. This track record contradicts industry conventional wisdom of 15-16 year development timelines and provides confidence in the team's ability to execute on aggressive schedules whilst maintaining technical rigour. The team previously contributed to growing the now SSR Mining from $50 million to $2 billion market capitalization whilst establishing multiple producing assets.P2 Gold systematically addressed legacy capital structure issues throughout 2025, eliminating Waterton Precious Metals' 23-million-share overhang and preparing to retire a convertible debenture maturing January 2026. Management's 16.5% ownership stake demonstrates strong alignment with shareholders, whilst the cleaned-up balance sheet removes near-term financing pressures and valuation constraints.The Gabbs project currently hosts 1.2 million ounces of gold equivalent in the indicated resource category plus 2.25 million ounces inferred. A 15,000-metre drilling programme commenced October 2025 aims to convert inferred resources into the indicated category required for feasibility-level mine planning, with completion expected February 2026. The porphyry-type mineralisation demonstrates exceptional geological consistency, with drilling results consistently meeting expectations for grade, depth, and continuity, significantly reducing technical risk.Project economics have transformed under current commodity prices. The October 2025 preliminary economic assessment assumed $1,950 gold, $4.50 copper, and $25 silver, outlining a 14-year mine life producing 109,000 ounces gold and 33 million pounds copper annually from 9 million tonnes throughput. At current spot prices, first-year gross revenues could approach $900 million, enabling initial capex recovery within 5-6 months versus multi-year payback under PEA assumptions. This creates optionality to accelerate mill construction (originally year 6) and evaluate higher throughput scenarios of 11-12 million tonnes annually, potentially boosting gold production toward 150,000 ounces, repositioning Gabbs as a mid-tier rather than smaller-scale producer.The company is pursuing proactive dual-track permitting and technical work designed to compress development timelines. P2 Gold is preparing its Mining Plan of Operations whilst having already initiated environmental baseline studies despite not yet formally filing for environmental permits. Management targets environmental permit receipt by end-2027, enabling 2028 production—a timeline leveraging Nevada's reputation for mining-friendly regulation.Funding through feasibility study completion is secured via the autumn 2025 raise plus expected warrant exercises, eliminating near-term dilution concerns. For construction financing, management will prioritise speed over minimising capital costs, recognising that accelerated production timelines can justify premium financing terms by bringing forward cash flows and reducing market exposure.P2 Gold offers investors exposure to Nevada gold development with multiple catalysts over 24-36 months including feasibility study completion, resource expansion, permitting milestones, and potential strategic interest from larger producers seeking Nevada-based assets with clear production timelines and experienced management.View P2 Gold's company profile: https://www.cruxinvestor.com/companies/p2-goldSign up for Crux Investor: https://cruxinvestor.com

Interview with Keith Boyle, Director & CEO of New Found GoldOur previous interview: https://www.cruxinvestor.com/posts/new-found-gold-tsxvnfg-high-grade-strategy-meets-near-term-cash-flow-8695Recording date: 9th January 2026New Found Gold is executing a comprehensive transformation from pure exploration company to emerging gold producer, driven by a complete leadership overhaul and strategic acquisitions designed to accelerate the path to cash flow.The most significant change began with a complete board renewal in December 2024, followed by the appointment of CEO Keith Boyle in January 2025. "They brought me in January of 25, the mandate being let's get the gold, let's get to production," Boyle explained. "We were an exploration company and had been doing that for five years since discovering the Queensway deposit and so it was time to make that shift."The new leadership team brings proven operational credentials. Chief Operating Officer Robert Assabgui previously served as VP of Hudbay's Manitoba division, where he brought the Lalor mine into production. CFO Hashim Ahmed brings project financing expertise from Mandalay Resources and Jaguar Mining. The board now includes former Newfoundland Premier Andrew Furey and experienced mining executives Tamara Brown, Chad Williams, and Allan Palmir.A pivotal strategic move was acquiring Maritime Resources' Hammerdown mine and milling facilities. Hammerdown is targeting steady-state production by mid-2026, providing near-term cash flow that will reduce external financing requirements for the flagship Queensway project. "At these gold prices, it really is going to help us in being able to manage the amount of money that we have to raise externally," Boyle noted.For Queensway, the company released a mineral resource estimate and preliminary economic assessment in July 2025, which helped secure $87 million in financing. Final Investment Decision is targeted for H2 2026, with environmental assessment submission planned for Q1 2026. The company expects favorable permitting timelines in mining-friendly Newfoundland, potentially enabling construction commencement in late 2026.Despite the production focus, New Found Gold maintains aggressive exploration commitments. "We still want to keep the drill bit turning to find that game-changing, that Swan Zone, that next big one, because it will create that additional value for us," Boyle emphasized, highlighting the camp-scale potential of the land package.View New Found Gold's company profile: https://www.cruxinvestor.com/companies/new-found-goldSign up for Crux Investor: https://cruxinvestor.com

Interview with Diane R. Garrett, President & CEO of Hycroft MiningOur previous interview: https://www.cruxinvestor.com/posts/hycroft-mining-nasdaqhymc-pitch-perfect-december-2025-8886Recording date: 9th January 2026Hycroft Mining has executed a remarkable corporate turnaround in 2025, transforming from a debt-burdened developer into a well-capitalized exploration story commanding over $2 billion in market capitalization. The Nevada-based company eliminated all inherited debt that was accruing at 10% interest, triggering an immediate share price rerating and attracting blue-chip institutional investors who now comprise over 80% of shareholders.Under President and CEO Diane Garrett's leadership, the company made its most significant discoveries in over 40 years of site history. The team identified two high-grade silver systems - Brimstone and Vortex - achieving over 90% drill success rates. These continuous, wide vein systems represent the high-grade cores feeding Hycroft's world-class resource of over 10 million ounces of gold and nearly 400 million ounces of silver.The company's financial position provides substantial flexibility, with approximately $200 million in cash including warrant exercises, offering 3+ years of runway with no dilution planned. Management has accelerated exploration from one drill rig to four, rapidly developing resource definition to support production decision-making.Hycroft possesses critical infrastructure advantages worth nearly $1 billion, including complete permitting, existing leach pads, crushing facilities, and two processing plants. This positions the company years ahead of development peers. Metallurgical work on pressure oxidation is complete, while roasting studies continue - the latter potentially generating a third revenue stream through sulfuric acid sales to lithium and fertilizer industries.The company is pursuing a phased development strategy to minimize shareholder dilution. Near-term options include restarting heap leach operations within six months using existing material and infrastructure, followed by high-grade underground mining with lower capital requirements and superior early cash flows. This approach mirrors management's proven Romarco Minerals playbook, where they successfully transformed a perceived low-grade project into a tier-one discovery.Engineering studies are nearing completion for Q1 2026 release, with management maintaining that proper sequencing and thorough technical work minimize execution risk while advancing toward production decisions.View Hycroft Mining's company profile: https://www.cruxinvestor.com/companies/hycroft-mining-holding-corporationSign up for Crux Investor: https://cruxinvestor.com

Think 4-H is just showing cattle? Think again! Special guests Danielle Walker and Taylor Chastain join hosts Sal Sama and Jeff Jarrett in the podcast room for today's episode of The High Ground powered by Premier Companies.  Taylor and Danielle are both extension educators for Purdue University, and Danielle also serves as their Ag and Natural Resources educator and Interim CEO.  Danielle and Taylor will tell us about their roles as extension educators, and you'll also learn more about the ag and natural resources role.  You'll also learn about the Purdue extension service and the variety of ways they are able to provide resources to growers.  From Legos to collections, Danielle and Taylor will share about the variety of projects available in the 4-H program. One day, extension educators will answer questions about potholders and the next day, they'll have questions about bag worms. “It's like every day is Trivial Pursuit for an extension educator!”Subscribe to The High Ground podcast:https://www.buzzsprout.com/1893315The High Ground - powered by Premier Companies will discuss everything from agriculture to energy. Hosted by Jeff Jarret (VP of New Business & Fertilizer) and Sal Sama (VP of Agronomy Sales & Marketing).http://www.premierag.com

Think 4-H is just showing cattle? Think again! Special guests Danielle Walker and Taylor Chastain join hosts Sal Sama and Jeff Jarrett in the podcast room for today's episode of The High Ground powered by Premier Companies.  Taylor and Danielle are both extension educators for Purdue University, and Danielle also serves as their Ag and Natural Resources educator and Interim CEO.  Danielle and Taylor will tell us about their roles as extension educators, and you'll also learn more about the ag and natural resources role.  You'll also learn about the Purdue extension service and the variety of ways they are able to provide resources to growers.  From Legos to collections, Danielle and Taylor will share about the variety of projects available in the 4-H program. One day, extension educators will answer questions about potholders and the next day, they'll have questions about bag worms. “It's like every day is Trivial Pursuit for an extension educator!”Subscribe to The High Ground podcast:https://www.buzzsprout.com/1893315The High Ground - powered by Premier Companies will discuss everything from agriculture to energy. Hosted by Jeff Jarret (VP of New Business & Fertilizer) and Sal Sama (VP of Agronomy Sales & Marketing).http://www.premierag.com

This episode of 'In the Woods' podcast, hosted by Jake Barker of Oregon State University's Extension Service, explores post-wildfire restoration on private forest lands based on the LEAF (Landowner Experience After Fire) survey. Conducted by OSU in response to the 2020 Labor Day fires, the survey gathered insights from over 200 landowners across Oregon on their recovery experiences from 2017 to 2023. Key findings were shared, including the importance of local capacity, coordination, and organizational support in driving effective recovery. Guest Kara Baylog, a program coordinator with OSU's Forestry and Natural Resources extension, discussed the survey's methodology, the barriers landowners faced, and the types of assistance that proved most effective in aiding recovery efforts. For more information on this and other episodes, go to inthewoodspodcast.com.List of Chapters and Timestamps:00:00 Introduction to In the Woods Podcast00:35 Overview of Today's Episode: Post-Wildfire Restoration01:57 Introducing Kara Baylog and the LEAF Survey02:34 Details of the LEAF Survey06:35 Survey Findings: Emotional and Practical Responses08:22 Challenges and Barriers in Post-Wildfire Restoration13:15 Importance of Management Planning17:13 Role of Agencies and Organizations in Recovery24:34 Types of Assistance Provided to Landowners32:33 Future Directions and Final Thoughts37:11 Conclusion and Lightning Round40:14 Credits and Acknowledgements

The Trump administration announced Tuesday that it's freezing child care funds to Minnesota amid accusations of fraud.Jim O'Neill is Deputy Secretary of Health and Human Services. He announced in a social media post that the move is in response to, “blatant fraud that appears to be rampant in Minnesota and across the country.”Gov. Tim Walz's office called the move “a transparent attempt to politicize the issue to hurt Minnesotans and defund government programs that help people.”Minnesota workers gain new benefits around breaks, wages and leave policies starting this week. New laws spell out that employees are entitled to a rest break of 15 minutes or enough time to seek out the nearest convenient restroom for every four hours worked. And they'll have a 30-minute window for a meal break for every six consecutive hours they work. That's different than the “adequate time” standard currently on the books.People who make minimum wage will see a slight bump in pay after an adjustment for inflation. Statewide, the hourly wage will tick up to $11.41 per hour. Workers inside Minneapolis and St. Paul city limits have even higher minimum wages because of rules that call for increases in 2026.More Minnesota workers also qualify for paid family and medical leave starting the first of the year.And the Minnesota Department of Natural Resources has given the green light to additional mineral exploration near Ely, just outside the Boundary Waters Canoe Area.Go deeper with the latest edition of the Minnesota Today newsletter.These new laws take effect in Minnesota as 2026 arrivesTrump administration says it's freezing child care funds to Minnesota after series of fraud schemesMinnesota DNR approves mining exploration plan just outside the Boundary WatersSubscribe on Apple Podcasts, Spotify or RSS.

Interview with Stephen Soock, VP of Investor Relations and Development, Heliostar MetalsOur previous interview: https://www.cruxinvestor.com/posts/heliostar-metals-tsxvhstr-big-high-grade-gold-potential-at-anapola-project-3935Recording date: 29th December 2025Heliostar Metals is pursuing an ambitious strategy to transform from a 30-40,000 ounce gold producer in 2025 to a 300,000 ounce operation by decade's end, with a critical differentiator: the entire expansion will be internally financed without shareholder dilution. In a detailed discussion, Stephen Soock, VP of Investor Relations and Development, outlined how the company plans to leverage cash flow from recently restarted Mexican operations to fund systematic development of high-margin projects.The foundation of this strategy rests on the successful restart of operations acquired from Argonaut Gold in November 2024. La Colorada's return to production early in 2025 established initial cash flow, followed by San Augustine's restart in late December 2025. San Augustine, with 68,000 ounces in reserve and projected production of 45,000 ounces over 14 months, is expected to generate approximately $65 million in 2026 at current gold prices. Soock characterised the operation as "a little bit like an ATM" for funding broader growth initiatives.The flagship Ana Paula project represents the centrepiece of Heliostar's transformation. The underground mine's preliminary economic assessment shows compelling economics: $300 million in initial capital for 100,000 ounces annual production at just over $1,000 all-in sustaining costs, placing it in the bottom 15% of the global cost curve. This exceptional positioning derives from a rare combination of 5.5 grams per ton high-grade ore with bulk tonnage characteristics. The company targets a Q1 2027 feasibility study and H2 2028 production start.Looking further ahead, Cerro del Gallo provides additional growth potential with a 15-year mine life producing 85,000-87,000 ounces annually. Despite recent share price appreciation to nearly $800 million valuation, management maintains capital discipline, with Soock stating unequivocally that near-term equity financing remains unnecessary. Trading at 0.28x net asset value, the company sees continued re-rating potential as operational execution de-risks the development pipeline.View Heliostar Metals' company profile: https://www.cruxinvestor.com/companies/heliostar-metalsSign up for Crux Investor: https://cruxinvestor.com