Podcasts about Uranium

Ep 163: Dec 17, 2025 - RB -  Did One Of Three Interstellar Objects Have Melted, Thermonuclear Device? Fall of 2017 - Omuamua spotted Travelling at 56,000 mph, then changes direction and speeds up “Omuamua was not slowing down as it should have” “We've never seen interstellar objects pass through out solar system” “21/Birosov comet spotted in 2021”, only 2nd known to humans Avi Loeb and Amir Siraj investigated list of meteors at CNEOS and found another meteor travelling 100,000 mph Possible interstellar object entered Earth's atmosphere Memo dated March 1, 2022 confirmed it as interstellar with 99.999% confidence Object was moving at 60m/sec Expedition mounted to retrieve object near Papua, New Guinea John Brandenburg, Ph.D took an interest in the findings   Interview with John Brandenburg, Ph.D “unusual sample…almost no nickel” “resembles..high strength aerospace alloy” “this is a very strange object” “Uranium and thorium…used in nuclear bombs” “if this is nuclear weapons..this is very concerning” “there are intelligent beings…it should be expected” ===== Books mentioned: Interstellar By Avi Loeb, Ph.D  Death on Mars By John Brandenburg, Ph.D ==== Upcoming Appearances: Conscious Life Expo 2026 February 20th-23rd, 2026 https://consciouslifeexpo.com/linda-moulton-howe-2026/?ref=njyynty   ====   #LindaMoultonHowe #Earthfiles — For more incredible science stories, Real X-Files, environmental stories and so much more. Please visit my site https://www.earthfiles.com — Be sure to subscribe to this Earthfiles Channel the official channel for Linda Moulton Howe https://www.youtube.com/Earthfiles. — To stay up to date on everything Earthfiles, follow me on FaceBook@EarthfilesNews and Twitter @Earthfiles.  To purchase books and merchandise from Linda Moulton Howe, be sure to only shop at my official Earthfiles store at https://www.earthfiles.com/earthfiles-shop/ — Countdown Clock Piano Music:  Ashot Danielyan, Composer:  https://www.pond5.com/stock-music/100990900/emotional-piano-melancholic-drama.html

Host Ed Coyne and Sprott CEO John Ciampaglia recap a surprising 2025 for the uranium market, characterized by flat spot prices that contrasted sharply with strong mining equities and bullish long-term demand signals for nuclear power. Together, Ed and John look ahead to 2026, highlighting the potential for renewed contracting, higher prices and pivotal U.S. policy decisions that are likely to boost demand for uranium and nuclear power.This podcast is provided for information purposes only from sources believed to be reliable. However, Sprott does not warrant its completeness or accuracy. Any opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice. Past performance is not indicative of future results. This communication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinions and recommendations herein do not take into account individual client circumstances, objectives, or needs and are not intended as recommendations of particular securities, financial instruments, or strategies. You must make your own independent decisions regarding any securities, financial instruments or strategies mentioned or related to the information herein. This communication may not be redistributed or retransmitted, in whole or in part, or in any form or manner, without the express written consent of Sprott. Any unauthorized use or disclosure is prohibited. Receipt and review of this information constitute your agreement not to redistribute or retransmit the contents and information contained in this communication without first obtaining express permission from an authorized officer of Sprott.

Interview with Christopher Taylor, Chairman, and Claudia Tornquist, President & CEO of Kodiak Copper Corp.Our previous interview: https://www.cruxinvestor.com/posts/kodiak-copper-tsxvkdk-q4-2025-resource-estimate-will-mark-critical-inflection-point-7948Recording date: 10th December 2025Kodiak Copper has announced its maiden resource estimate for the MPD project in British Columbia, marking a significant milestone after six years of exploration. The resource comprises 440 million tons at 0.39% copper equivalent (indicated) and 0.32% (inferred), containing 2.4 billion pounds of copper and 1.7 million ounces of gold across seven discrete deposits.The company achieved remarkable exploration efficiency, discovering nearly 2 million ounces of gold with only 90,000 meters of drilling—a superior discovery rate compared to peer projects. Chairman Chris Taylor noted this efficiency exceeded even his previous work at Great Bear Resources, which sold for C$1.8 billion.Metallurgical results are encouraging, showing 80% copper recovery and 60% gold recovery with no deleterious elements. The company is conducting optimization work to potentially improve gold recovery rates, which could significantly enhance project economics given current gold prices substantially above the $4,000 per ounce assumption used in resource calculations.All seven deposits remain open for expansion, with drilling already indicating significant growth opportunities. The company has identified approximately 20 additional exploration targets across the property, including areas with surface samples showing 4-5% copper grades—higher than any current resource deposit yet never drill-tested.Management is prioritizing resource expansion over immediate economic studies, believing this approach maximizes shareholder value by demonstrating the district's full scale potential. President Claudia Tornquist emphasized that "size is what will make this project attractive." The company maintains $7-8 million cash to fund a 2026-2027 drilling program, with a resource update expected in approximately one year.The project benefits from favorable market dynamics, with copper and gold at or near all-time highs and limited pipeline of development projects to address structural supply deficits. Located in British Columbia's established mining jurisdiction, MPD is positioned as a potential future copper-gold producer in a supply-constrained market.View Kodiak Copper's company profile: https://www.cruxinvestor.com/companies/kodiak-copper-corpSign up for Crux Investor: https://cruxinvestor.com

Standard Uranium CEO Jon Bey joined Steve Darling from Proactive to discuss the company's operational progress throughout 2025 and outline its strategic roadmap heading into 2026, highlighting a year marked by successful capital raising, advancing exploration programs, and the expansion of its joint venture portfolio. Bey noted that Standard Uranium raised nearly C$7.0 million during 2025, providing the financial foundation to advance multiple exploration initiatives across its project portfolio. A significant portion of that capital has been allocated to the Davidson River project, which is now fully funded and preparing for the largest drill program in the project's history. Drilling at Davidson River is scheduled to begin in late May 2026 and is expected to be a major catalyst for the company. One of the year's key developments was the return of 100% ownership of the Sun Dog project to Standard Uranium after joint venture partner Arrow Energy was unable to meet its funding commitments. Bey explained that this outcome has positioned the company to re-engage the market, confirming that multiple confidentiality agreements have already been signed with interested joint venture partners. Subject to final agreements, drilling at Sun Dog is expected to resume in late summer 2026. The company also continued to advance its project generator business model by securing new joint venture agreements. Standard Uranium entered into a partnership with Aventis on the Corvo project and a separate agreement with Collective Metals on the Rocas project. Both projects are on track to begin drilling in the first quarter of 2026, further diversifying the company's near-term exploration pipeline. Looking ahead, Bey confirmed that Standard Uranium's full management and technical team will attend the Vancouver Resource Investment Conference in January 2026. The company plans to meet with investors and stakeholders at the event to provide updates on its exploration plans and outline anticipated catalysts for the year ahead. #proactiveinvestors #standarduraniumltd #tsxv #stnd #otcqb #sttdf #mining #uranium #corvoproject #UraniumExploration #AthabascaBasin #DavidsonRiver #MiningInnovation #Geophysics #AmbientNoiseTomography #ResourceInvesting #FleetSpace #UraniumDiscovery #MiningNews

Watch The X22 Report On Video No videos found (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:17532056201798502,size:[0, 0],id:"ld-9437-3289"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");pt> Click On Picture To See Larger PictureCalifornia is destroying their gasoline market, they want the state to own it, socialism. Oil prices are dropping, gas prices are dropping soon gas will be close to $1. Trump is reversing the [CB] illusion, jobs are being returned to the private sector. All in preparation to go back to the Constitution. The [DS] will continue to push back and try to delay everything Trump is trying to do. The House is prepared to make his EO into law, this will protect the country into the future. Trump had the real Generals stand behind him, these are the individuals that will protect the Republic from the [DS]. Trump is undoing decades of corruption, exposing the [DS] treasonous crimes, they will fight to hide their treasonous acts but this will fail. In the end the Military is the only way. Economy (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:18510697282300316,size:[0, 0],id:"ld-8599-9832"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs"); https://twitter.com/US_OGA/status/2000639453866651711?s=20 https://twitter.com/KobeissiLetter/status/2000951982874636662?s=20 https://twitter.com/profstonge/status/2000628845918265518?s=20 https://twitter.com/KobeissiLetter/status/2000925538131829101?s=20 https://twitter.com/RealEJAntoni/status/2000925018281402525?s=20 https://twitter.com/profstonge/status/2000952081012940948?s=20 https://twitter.com/RapidResponse47/status/2000966123274068007?s=20 https://twitter.com/RealEJAntoni/status/2000936248370717073?s=20 https://twitter.com/EricLDaugh/status/2000922549060858200?s=20   $2,000 per household, depending on the number of workers.” “[The economy] is gonna start lifting off in Q1 and Q2.” This is HUGE! Political/Rights https://twitter.com/KanekoaTheGreat/status/2000701268806062358?s=20 https://twitter.com/KanekoaTheGreat/status/2000713713423196652?s=20 https://twitter.com/KanekoaTheGreat/status/2000766725231665257?s=20 https://twitter.com/KnightsTempOrg/status/2000645606964933100?s=20 WEIRD? Police Publish and Quickly Delete Photos of Rob Reiner's Son Being Cuffed for Slaughtering Parents, Give No Explanation Nick Reiner, the 32-year-old son of liberal activist and famed director Rob Reiner, has been arrested and charged with the brutal murder of his parents. The LAPD Gang and Narcotics Division published dramatic photos of Nick's handcuffed arrest on Instagram on Monday, but quickly deleted them without explanation. Rob Reiner, 78, known for classics like The Princess Bride, Spinal Tap, and When Harry Met Sally, and his wife Michele Singer Reiner, 68, were found stabbed to death in their Brentwood, Los Angeles home on Sunday afternoon. The New York Post reports: Nick Reiner, whose face is blurred out, is seen being forced to the ground with his hands cuffed behind his back, according to one photo. Another snap showed law enforcement pushing the suspect against the front of a squad car. In the caption, the unit only identified the man as “a double homicide suspect.” The arrest was made by US Marshals with the assistance of the LAPD's robbery homicide division, according to the post. An LAPD spokesperson declined to comment when asked why the force's gang and narcotics unit deleted the arrest photo shortly after it was published. The since-deleted photos: Nick, who has long battled severe drug addiction starting in his teens, co-wrote and starred in the 2016 semi-autobiographical film Being Charlie, directed by his father, which chronicled a young man's struggles with substance abuse and rehab. Insiders report that Nick “really resented” his father and “hated himself for not being as successful,” amid ongoing family tensions. The night before the murders, Rob and Nick reportedly got into a “very loud argument” at Conan O'Brien's Christmas party, loud enough for other guests to notice. Source: thegatewaypundit.com https://twitter.com/nypost/status/2000870292227260695?s=20 https://twitter.com/barrycunningham/status/2000736216354853228?s=20   lists are…well you know. TAKE A LISTEN https://twitter.com/RealSLokhova/status/2000919590449394156?s=20 Real Texas Conservative  The tragic deaths of filmmaker Rob Reiner and his wife Michele on December 14, 2025, have cast a somber shadow over Hollywood, prompting reflections on legacy, loss, and the lingering scars of political division. In response, President Donald Trump’s Truth Social post on December 15, 2025 – framing their passing through the lens of “Trump Derangement Syndrome” (TDS) – has ignited controversy. Yet, when examined against the backdrop of Reiner’s decade-long barrage of vitriolic rhetoric against Trump, the statement emerges not as callous, but as an appropriate blend of pointed satire, genuine sympathy, and a timely concern for mental health. This piece builds an ironclad case for its fittingness, rooted in factual history, psychological insight, and legal precedent. To understand the appropriateness of Trump’s words, one must first confront the unyielding hostility Reiner directed at him since 2015. Reiner, celebrated for directing classics like “This Is Spinal Tap” and “The Princess Bride,” transformed into one of Trump’s most vocal detractors after his presidential candidacy. In a 2016 interview with The Hollywood Reporter, Reiner labeled Trump a “con man” and “dangerous,” warning he would erode democratic norms. This escalated over the years. By 2018, Reiner tweeted comparisons of Trump to Hitler, accusing him of fostering fascism and white supremacy. His 2024 documentary “God & Country” explicitly tied Trump’s influence to Christian nationalism, portraying it as a threat to American democracy. Reiner’s social media feed became a relentless stream of attacks, calling Trump a “pathological liar,” “sociopath,” and “existential danger” in posts that amassed millions of views. Even in 2025, shortly before his death, Reiner urged boycotts of Trump-related events, framing his re-election as apocalyptic. These were not isolated jabs but a sustained campaign, often personal and inflammatory, that Reiner himself admitted stemmed from deep-seated outrage. This history of antagonism, predominantly initiated by Reiner, sets the stage for why Trump’s response is not only defensible but proportionate. Far from escalating the feud posthumously, Trump’s post acknowledges Reiner’s talents – “a tortured and struggling, but once very talented movie director and comedy star” – while attributing the tragedy to TDS, a “mind-crippling disease” fueled by “raging obsession.” This framing isn’t baseless invention; it’s grounded in credible psychological analysis. Critics have questioned the timing of Trump’s post, issued just a day after the tragedy, as potentially too raw or opportunistic. However, this immediacy is precisely what makes it authentic and effective, aligning with Trump’s longstanding style of direct, unfiltered leadership in a 24/7 news cycle where narratives solidify within hours. Historical precedents abound; consider how President Lincoln addressed critics’ deaths or political losses with prompt wit during the Civil War, using fresh moments to foster national introspection and prevent distorted legacies. Similarly, Trump’s swift response cuts through emerging media spin – already framing Reiner solely as a heroic anti-Trump voice – by injecting balance and psychological truth right when public discourse peaks. Delaying would risk seeming calculated or detached, whereas this timing underscores sincerity, especially paired with the post’s sympathetic close. In essence, it’s not haste but strategic candor, transforming grief into a teachable moment on division’s dangers before emotions calcify. Transitioning from personal history to broader insight, TDS has been recognized by mental health experts as a manifestation of intense political polarization leading to real psychological strain. Psychiatrist Dr. Keith Ablow, in analyses shared on platforms like the Mark Simone Show, described TDS as rooted in “mass hysteria,” where individuals project anxieties onto a political figure, resulting in paranoia, chronic stress, and potential health declines. Research in the Journal of Abnormal Psychology supports this, linking partisan hatred to elevated cortisol levels, anxiety disorders, and weakened well-being. Trump’s reference to TDS isn’t mockery; it’s a diagnostic observation, highlighting how Reiner’s fixation – evident in his own words – might have contributed to personal tolls, especially amid reports of familial strife surrounding the deaths. By raising this, Trump shifts the narrative from vendetta to vigilance, urging awareness of how ideological obsessions erode lives. Moreover, the post’s satirical edge aligns with a storied tradition of political commentary, making it intellectually apt rather than insensitive. Trump employs hyperbole – “driving people CRAZY” amid America’s “Golden Age” – to underscore the irony of Reiner’s paranoia against tangible achievements like record economic growth, Middle East peace accords, and energy independence during his administration. This mirrors Jonathan Swift’s exaggerated proposals in “A Modest Proposal” or Abraham Lincoln’s witty rebukes of critics, using humor to expose societal flaws without literal malice. Legally, such expression is shielded by the First Amendment; the Supreme Court’s ruling in Hustler Magazine v. Falwell affirms that satirical opinions about public figures, absent provable falsehoods, are protected speech. Trump’s “reportedly due to” phrasing acknowledges speculation, ensuring it remains opinion, not defamation. What elevates the statement to appropriateness is its undercurrent of grace amid past unkindnesses, including Trump’s rare direct engagement with Reiner pre-tragedy despite the instigations. The post concludes with “May Rob and Michele rest in peace!” This isn’t perfunctory; it’s a sincere extension of sympathy, humanizing both parties and transcending the feud while modeling reciprocity in an era of unrelenting acrimony. Trump’s words match rhetoric’s intensity yet cap it with compassion and a mental health caveat, turning potential gloating into a nudge toward understanding division’s toll. In conclusion, Trump’s response is ironclad in its fittingness because it reciprocates a decade of Reiner’s attacks with measured satire, validates psychological realities, and prioritizes sympathy over score-settling. It doesn’t diminish the tragedy but illuminates division’s costs, encouraging reflection. Postscript: While the author is not an attorney or mental health practitioner, his nearly two decades as a seasoned content writer and editor have honed expert research skills, enabling rigorous analysis grounded in verifiable facts and legal precedents. https://twitter.com/DC_Draino/status/2000931274744324237?s=20 https://twitter.com/AlecLace/status/2000700955457630718?s=20 https://twitter.com/KurtSchlichter/status/2000694706054029700?s=20  reason for it. Sadly, past experience, teaches us that the most likely reason for the lack of transparency is that the answers are not going to support the left-wing agenda of the local Rhode Island Democrats. I could be wrong. But if I was wrong, I have a nagging suspicion. I would've had answers to those questions already. The FBI is offering a $50,000 reward for information leading to the arrest of this man. Trump blames Brown, not FBI, for delay in finding shooting suspect President Trump blamed Brown University for the delay in locating the suspect in the fatal mass shooting on the school's campus in Rhode Island on Saturday. “You'd really have to ask the school a little bit more about that because this was a school problem,” Trump said when asked on Monday if FBI Director Kash Patel has told him why it's been difficult for the FBI to identify the suspected shooter. “They had their own guards. They had their own police. They had their own everything, but you'd have to ask that question really to the school, not to the FBI. We came in after the fact, and the FBI will do a good job, but they came in after the fact,” he said. Source: thehill.com War/Peace https://twitter.com/WarClandestine/status/2000694318512652750?s=20 JUST IN: US OBLITERATES 3 More Venezuelan Drug Boats Just Hours After President Trump Designates Fentanyl as a Weapon of Mass Destruction United States Southern Command on Monday announced that Joint Task Force Southern Spear took out three narcotrafficking vessels in the Eastern Pacific.  A total of eight “narco-terrorists” were killed in the strikes. “Intelligence confirmed that the vessels were transiting along known narco-trafficking routes in the Eastern Pacific and were engaged in narco-trafficking,” US SOUTHCOM said. Video from the strikes shows massive explosions on each boat, turning them into burning piles of rubble. https://twitter.com/Southcom/status/2000756230252314901?s=20 Source: thegatewaypundit.com Trump: Syria is a key part of peace efforts in the Middle East Washington, Dec. 16 (SANA) U.S. President Donald Trump described the developments in Syria this year as “remarkable,” highlighting that the United States is committed to ensuring lasting peace in the Middle East, with Syria playing an essential role in that peace. Source: sana.sy 1306 Q !xowAT4Z3VQ ID: e7b971 No.1248119 Apr 30 2018 10:51:06 (EST) Define the terms of the Iran nuclear deal. Does the agreement define & confine cease & desist ‘PRO' to the republic of Iran? What if Iran created a classified ‘satellite' Nuclear facility in Northern Syria? What if the program never ceased? What other bad actors are possibly involved? Did the U.S. know? Where did the cash payments go? How many planes delivered? Did all planes land in same location? Where did the U1 material end up? Is this material traceable? Yes. Define cover. What if U1 material ended up in Syria? What would be the primary purpose? SUM OF ALL FEARS. In the movie, where did the material come from? What country? What would happen if Russia or another foreign state supplied Uranium to Iran/Syria? WAR. What does U1 provide? Define cover. Why did we strike Syria? Why did we really strike Syria? Define cover. Patriots in control. Q British Intelligence Head Says Prepare for War Against Russia  The newly appointed head of MI6, Blaise Metreweli, formerly known by her position as “Q”, is literally the granddaughter of factual Ukraine Nazi, Constantine Dobrowolski.  Now, as head of MI6 Metreweli wants war with Russia. In a rather remarkable speech to the British people, Blaise Metreweli proclaimed Europe is in “the space between peace and war,” with a direct military conflict with Russia looming as the biggest threat.  Metreweli declared, “Our world is being actively remade, with profound implications for national and international security.” Source: theconservativetreehouse.com https://twitter.com/disclosetv/status/2000898313579561365?s=20 https://twitter.com/MarioNawfal/status/2000896186413441184?s=20   have already been filed. The World Bank estimates the total at $524 billion over the next decade – triple Ukraine’s 2024 GDP. Zelensky: “It’s not enough to force Russia into a deal. It’s not enough to make it stop killing. We must make Russia accept that there are rules in the world.” Mechanism: Register of Damage (created 2023): collects claims from individuals, companies, and the Ukrainian state. Claims Commission: reviews, validates, and awards compensation case-by-case. Categories: sexual violence, child deportations, infrastructure destruction, religious sites bombed. Funding plan: Frozen Russian assets held by the EU, supplemented by member contributions. Dutch FM David van Weel: “The goal is to have validated claims that will ultimately be paid by Russia.” Enforcement? Still being worked out. Complication: Trump's team floated amnesty for war crimes as part of a peace deal – makes prosecuting the very individuals being billed impossible. Next steps: Convention takes force after 25 nations ratify it (if funds secured). Russia calls frozen-assets proposal “illegal,” denies war crimes, threatens retaliation. Reality check: This is post-WWII-style reparations applied to an ongoing conflict. The $524B estimate covers through 2024 only – 2025's escalated attacks on utilities, transport, and civilians already make the number outdated. https://twitter.com/AwakenedOutlaw/status/2000626884145754206?s=20   breaking out. Their position is legitimately insane. Sadly, what’s clear is that the European leadership is comprised of war-mongering, bloodthirsty psychopaths. The idiom, “With friends like these, who needs enemies?” comes to mind. Only in this case, it’s not a sarcastic observation. ______ EU Globalists Threaten to Dump $2.34 Trillion in U.S. Debt to Stop Trump's Ukraine Peace Deal JUST IN: Senate Advances $900 BILLION Defense Spending Bill with Military Aid to Ukraine Senate advances $900 billion defense spending bill The US Senate on Monday voted to end the filibuster and advance the National Defense Authorization Act to a final vote.  The bipartisan vote, 76-20, invoked cloture on the bill, bringing it one step closer to final passage, which could still take days. Still, some lawmakers seek to amend the bill further, which would then require House passage before landing on the President's desk. Burchett: Big vote tonight was the NDAA, National Defense Authorization Act, and it was $900.6 billion. There’s money in there for, of course, Ukraine, $800 million total, and some other things, money in there for recognizing an Indian tribe out of North Carolina— has nothing to do with national security— Syria, money, Iraq. But we just got to quit this stuff. Somebody's, America’s got to start paying attention. Trump didn’t even ask for that. You’ve got the war pimps that push for this stuff. And they always will tell you, Oh, it’s, “Burchett, man, they’re gonna spend all that money here buying those missiles.” You know, is that what we’re basing our votes on is they’re going to buy implements to kill other people on? I’m all for getting rid of our enemies, but this is just too much, way too much, and things are just not what they appear. We need to wake up. I voted no. Over 100 Democrats voted to pass this. That ought to tell you right there what this is about. Got some liberal stuff tucked in there, and it’s over 3000 pages. We get it on Sunday, and we’re voting on it today. There’s no way, no way, we will ever know what was in there, and just— anyway, frustrated, we’ll keep fighting. Thank y’all for sending me here. Source: thegatewaypundit.com https://twitter.com/MarioNawfal/status/2000775317577744797?s=20   commands down to 8. Under the plan expected to be presented to Secretary Hegseth this week: U.S. Central Command, European Command, and Africa Command would be downgraded and placed under a new “U.S. International Command.” U.S. Southern Command and Northern Command would merge into “U.S. Americas Command” (Americom), reflecting the administration’s shift toward Western Hemisphere operations. The remaining commands: Indo-Pacific, Cyber, Special Operations, Space, Strategic, and Transportation. A senior defense official on the urgency: “Time ain’t on our side, man. The saying here is, ‘If not us, who, and if not now, when?'” The plan aligns with Trump’s national security strategy declaring that “the days of the United States propping up the entire world order like Atlas are over.” Former Defense Secretary Chuck Hagel expressed concern: “The world isn’t getting any less complicated. You want commands that have the capability of heading off problems before they become big problems.” Congress has required the Pentagon to submit a detailed blueprint before any changes can take effect. The Monroe Doctrine comes to CENTCOM. https://twitter.com/WarClandestine/status/2000687672936030583?s=20   been done long ago, which is eradicate the cartels that are plaguing the Western hemisphere via drug/human trafficking. The cartels have gone unchecked for decades, while they murder millions of Americans and commit heinous crimes against humanity. Trump confirms that designating the cartels as a foreign terrorist organizations “is a big deal from a legal and military standpoint”. Trump is going to use the full force of the US MIL to shut this entire corrupt network down. The Dems/MSM, and the weaklings on the Right, are going to squeal and moan the entire way, but this must be done. Trump is going to neutralize this threat to the American People and do what past Presidents failed to do. Medical/False Flags [DS] Agenda https://twitter.com/MarioNawfal/status/2000857179142680769?s=20   been part of it. Her late father served as a colonel in the Somali army under dictator Siad Barre, whose regime carried out mass killings in the 1980s. That makes her backstory more complicated than she lets on. A resurfaced video shows a man resembling Omar's father discussing brutal tactics. There's no proof he committed war crimes, but some say he was close enough to know what was happening. Photos also show Omar's siblings with General Morgan – known as the “Butcher of Hargeisa” – and Omar herself at a 2022 event where Morgan was present. One relative even referred to him as “uncle.” Omar hasn't commented on the new findings, and her silence has led some to question how she can call for accountability abroad without addressing her own family's history. https://twitter.com/JamesRosenTV/status/2000723473182965780?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E2000723473182965780%7Ctwgr%5Eb493e83212e9c33013500c56069b3622c19b2e21%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fredstate.com%2Frusty-weiss%2F2025%2F12%2F16%2Fice-officials-rip-ilhan-omar-over-ridiculous-story-about-her-son-being-racially-profiled-n2197175 https://twitter.com/thestoicplumber/status/2000748048683815183?s=20 https://twitter.com/EricLDaugh/status/2000742064959455252?s=20 U.S. Attorney Jeanine Pirro: D.C. Authorities Were Artificially Deflating Crime Stats With ‘Manipulated' Numbers https://twitter.com/USAttyPirro/status/2000637280789188855?s=20  into MPD's reported deflation of crime statistics. The need for accurate information to fight crime is essential. After a review of almost 6000 reports and the interview of over 50 witnesses, it is evident that a significant number of reports had been misclassified, making crime appear artificially lower than it was. The uncovering of these manipulated crime statistics makes clear that President Trump has reduced crime even more than originally thought, since crimes were actually higher than reported. His crime fighting efforts have delivered even more safety to the people of the District. The conduct here does not rise to the level of a criminal charge. However, it is up to MPD to take steps to internally address these underlying issues. Source: breitbart.com https://twitter.com/amuse/status/2000822708389745055?s=20 There is FEC data analysis that strongly suggests that Mark Kelly, Elissa Slotkin, Jason Crow, Chris Deluzio, Chrissy Houlahan and Maggie Goodlander have been recipients of illegally laundered campaign funds. Kelly is currently under investigation. They’re all backed by Soros!! President Trump's Plan https://twitter.com/MrAndyNgo/status/2000710555674325272?s=20  extremists after transitioning. https://twitter.com/george18kennedy/status/2000781888152129887?s=20   Staff of the Army (senior uniformed leader of the U.S. Army, member of the Joint Chiefs). – Admiral Daryl Caudle – Chief of Naval Operations (senior uniformed leader of the U.S. Navy, member of the Joint Chiefs). – General Eric M. Smith – Commandant of the Marine Corps (senior uniformed leader of the U.S. Marine Corps, member of the Joint Chiefs). – General Kenneth S. Wilsbach, USAF – Chief of Staff of the Air Force (senior uniformed leader of the U.S. Air Force, member of the Joint Chiefs). – General B. Chance Saltzman, USSF – Chief of Space Operations (senior uniformed leader of the U.S. Space Force, member of the Joint Chiefs). https://twitter.com/MJTruthUltra/status/2000668738203312188?s=20 TAKE A LISTEN https://twitter.com/nicksortor/status/2000725299420352640?s=20 https://twitter.com/EricLDaugh/status/2000916623243300901?s=20   Something BETTER be done about this. https://twitter.com/RobLutherLawyer/status/2000697951295840722?s=20 https://twitter.com/FBIDirectorKash/status/2000961090612813971?s=20 https://twitter.com/SusieWiles/status/2000943061627548148?s=20   story. I assume, after reading it, that this was done to paint an overwhelmingly chaotic and negative narrative about the President and our team. The truth is the Trump White House has already accomplished more in eleven months than any other President has accomplished in eight years and that is due to the unmatched leadership and vision of President Trump, for whom I have been honored to work for the better part of a decade. None of this will stop our relentless pursuit of Making America Great Again! https://twitter.com/EricLDaugh/status/2000957946352820238?s=20  codification of the President’s executive orders.” “A very aggressive legislative agenda coming right out of the gates in January. We’re going to continue to work, for example, on health care to continue to bring costs down for the American people, to bring down the cost of living overall.” “He’s up to about 200 of those [orders], probably about 150 of them are codifiable by Congress and we’re working steadily through that list.” “You’re going to see us delivering for the American people while the effects of that giant piece of legislation that we did on July 4th, got signed on July 4th, comes into implementation.” “So much more, much more yet to do and the President and I talk about that almost every day and he’s excited about it and I am.” https://twitter.com/seanmdav/status/2000685717497004167?s=20 to procedurally gum up the works behind the scenes. JD Vance Points Out the Consequence of the Senate “Blue Slip” Veto of Judicial Nominees It was passed by Congress on May 13, 1912, and ratified on April 8, 1913 The 16th Amendment to the United States Constitution grants Congress the authority to impose and collect income taxes without the need to apportion them among the states or base them on census data. constitution.congress.gov It was passed by Congress on July 2, 1909, and ratified on February 3, 1913. all of this is an outcome of the 17th Amendment, which stopped the state legislatures from having control over their senators.  Under the original constitutional framework, the Senate was designed to represent the interests of the state, as the Senators were appointed by state legislature, not popular votes.  The Sea Island assembly destroyed this cornerstone when they triggered the 17th Amendment. Repeal the 17th Amendment, and just about everything in federal government changes. Machiavelli said, “It must be remembered that there is nothing more difficult to plan, more doubtful of success, nor more dangerous to manage than a new system. For the initiator has the enmity of all who would profit by the preservation of the old institution and merely lukewarm defenders in those who gain by the new ones.”  A prescient and oft repeated quote that is pertinent to the situation. When our founders created the system of government for our constitutional republic, they built in layers of protection from federal control over the lives of people in the states.  Over time, those protections have been eroded as the federal bureaucracy has seized power.  One of the biggest changes that led to the creation of the permanent political class was the 17th Amendment. Our founders created a system where Senators were appointed by the state legislatures.  In this original system, the Senate was bound by obligation to look out for the best interests of their specific states.  Under the ‘advise and consent‘ rules of Senate confirmation for executive branch appointments, the intent was to ensure the presidential appointee -who would now carry out regulatory activity- would not undermine the independent position of the states.  .When the 17th Amendment (direct voting for Senators) took the place of state appointments, the perspective of ‘advise and consent' changed.  The Senate was now in the position of ensuring the presidential appointee did not undermine the power of the permanent bureaucracy, which is the root of power for the upper-chamber. Senate committees, Homeland Security, Judiciary, Intelligence, Armed Services, Foreign Relations, etc. now consists of members who carry an imbalanced level of power within government.  The Senate now controls who will be in charge of executive branch agencies like the DOJ, DHS, FBI, CIA, ODNI, DoD, State Dept and NSA, from the position of their own power and control in Washington DC. In essence, the 17th Amendment flipped the intent of the constitution from protecting the individual states to protecting the federal government. Seventeenth Amendment- “The Senate of the United States shall be composed of two Senators from each State, elected by the people thereof, for six years; and each Senator shall have one vote. The electors in each State shall have the qualifications requisite for electors of the most numerous branch of the State legislatures. When vacancies happen in the representation of any State in the Senate, the executive authority of such State shall issue writs of election to fill such vacancies: Provided, That the legislature of any State may empower the executive thereof to make temporary appointments until the people fill the vacancies by election as the legislature may direct.” (link)   The biggest issue following the passage of the 17th Amendment became Senators who were no longer representing the interests of their state.  Instead, they were representing the interests of the power elite groups who were helping them fund the mechanisms of their re-election efforts. A Senator only needs to run for re-election every six years.  The 17th Amendment is the only amendment that changed the structure of the Congress, as it was written by the founders. Over time, the Senate chamber itself began using their advice and consent authority to control the executive and judicial branch.  The origination of a nomination now holds the question: “Can this person pass the Senate confirmation process?” source: theconservativetreehouse.com https://twitter.com/j3669/status/2000683161273897213?s=20 https://twitter.com/EricLDaugh/status/2000952036238746070?s=20 https://twitter.com/EricLDaugh/status/2000671858417422538?s=20   is going to save the GOP, AGAIN. (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:13499335648425062,size:[0, 0],id:"ld-7164-1323"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="//cdn2.customads.co/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");

Interview with Jeremy Gillis, Director Capital Markets of Sendero ResourcesOur previous interview: https://www.cruxinvestor.com/posts/sendero-resources-tsxvsend-drilling-high-grade-targets-in-argentinas-vicua-copper-district-5346Recording date: 10th December 2025Sendero Resources has emerged as a compelling exploration story following a comprehensive restructuring that brought together mining industry veterans to advance a district-scale land position in Argentina's proven Vicuña copper-gold belt. Trading at approximately $30 million market capitalization with just 24 million shares outstanding, the company controls 211 square kilometers along the same structural corridor as billion-dollar discoveries including Filo del Sol, Josemaría, and Los Helados.The transformation began in 2024 when new leadership overhauled the struggling junior explorer, recruiting CEO Alex Gostevskikh (ex-Kinross, Centerra) and Steven McMullan, a PDAC prize-winning geologist whose discovery work contributed to Kamoa—now the world's fourth-largest producing copper mine. This production-focused technical team brings a critical economic lens to evaluating mineralization from the earliest exploration stages.What distinguishes Sendero's approach is comprehensive data reprocessing. The team analyzed 40 years of historical exploration data from the property—including 16,000 meters of drilling that showed mineralization throughout with no blank holes—plus 300,000 meters of drilling data from neighboring Filo del Sol. This work identified specific pathfinder elements and structural controls consistent between major district discoveries and Sendero's ground, including anomalous silver signatures that mirror Filo del Sol's high-grade zones.The company has attracted blue-chip mining investors including Peter Marrone (Yamana Gold, Allied Gold) and Argentine billionaire Eduardo Elsztain, who participated in progressively higher-valuation financings. The most recent $4 million raise closed at $0.95 per share with no warrants—a significant premium to earlier rounds. With management and strategic investors controlling 60-70% of shares, minimal public float exists.Sendero plans a focused 3,600-meter drill program for Q1 2026, targeting a newly identified area along a fault corridor that management believes hosts discovery-scale mineralization. Rather than testing multiple historical targets, the six-hole program concentrates on what the team considers the highest-probability opportunity for a significant find in this world-class gold-copper district.View Sendero Resources' company profile: https://www.cruxinvestor.com/companies/sendero-resourcesSign up for Crux Investor: https://cruxinvestor.com

The ASX 200 slipped another 36 points to 8598 (0.4%) as we wait for US data and Futures turned negative. Asian markets also under pressure as the AI trade sees air leaving. Banks slipped, CBA steady, WBC down 1.1% with the Big Bank Basket down to $271.96 (), other financials falling, ASX down another 2.9% with GQG off 3.1% and MQG bucking the trend up 0.2%, Insurers were firm, SUN up 0.8% and MPL rising 0.4%. REITs slid lower, GMG  down 0.1% and VCX falling 1.6%. Tech stocks in trouble again, WTC down 3.0% and XRO off 2.0% with the All-Tech Index down 1.6%. Retail fell, JBH down 1.0% and healthcare also under pressure. PME down 3.3% and COH falling on deaf ears, off 1.4%.Resources tried hard to hold up, gold miners saw profit taking again, NST down 2.4% and NEM off 0.6%. BHP and RIO went sideways, FMG dropped 2.8% and oil and gas stocks fell hard on crude prices, WDS down 2.3% and STO off 2.1%. Uranium stocks under pressure again on the AI trade. PDN off 4.8% and WHC falling 1.2%.In corporate news, REA fell 1.7% on news Google is entering the housing ad space. SXE rose 2.5% on a new order, DRO soared 22.2% on a $50m order from Europe. SGR unchanged after Steve McCann resigned. ORI up 2.8% after its AGMOn the economic front, ANZ- Roy Morgan Consumer sentiment  eased and two major banks predicted rate rises for February.Asian markets fell hard on AI fears, Japan down 1.3%, HK down 1.9% and China off 1.4%.US futures were down, Dow down 160 and Nasdaq down 168.Want to invest with Marcus Today? Our MT20 portfolio is designed for investors seeking exposure to our strategy while we do the hard work for you. If you're looking for personal financial advice, our friends at Clime Investment Management can help. Their team of licensed advisers operates across most states, offering tailored financial planning services.  Why not sign up for a free trial? Gain access to expert insights, research, and analysis to become a better investor.

The ASX 200 started off the week down 62 points to 8635 (0.7%). Miners bore the brunt of the selling after a stellar week last week, with BHP down 2.9% and RIO falling 2.4% on lower iron ore and copper prices.  Gold miners too in profit taking mode after solid gains on Friday. GMD fell 5.4% and NEM off 0.9%. Lithium miners were also in profit taking mode as PLS fell 3.9% and LTR off 6.4%. Uranium stocks dropped hard as the AI trade in the US was called into question again, and thus the energy trade. NXG fell 4.5% and PDN down 4.7% with BOE off 8.2%. The banks were relatively calm as CBA fell 0.6% with the other three higher. The Big Bank Basket eased to $272.41 (-0.1%). Other financials eased, ASX under pressure following the ASIC reforms, GQG up 1.1% and SOL falling 1.2%. Insurers were generally better. Healthcare mixed as CSL stumbled 2.5% lower, TLX falling another 4.2%. REITs mixed, industrials mixed too. TLS down 0.8% and TPG up 1.8% with tech trying to find a base, WTC down 0.7% and XRO up 0.6%. The All-Tech Index up 0.04%. Retailers also found some bargain hunters, JBH up 2.3% and APE recovering 1.0%. In corporate news, TWE in a trading halt pending outlook statement. EOS jumped 28.9% on an US$80m order from South Korea. 4DX rose 9.9% on news of approvals in Canada. WGX announced plans to spin off non-core assets and FMG announced plans to buy the remaining shares in Alta Copper. Nothing locally on the economic front but Japanese factory sentiment improved opening the way to a rate rise this week. China announced its weakest retail numbers since Covid. Asian markets eased on US falls, Japan down 1.4%, HK down 0.9% and China off 0.2%.US futures were better, Dow up 160 and Nasdaq up 52.10-year yields steady at 4.72%.Want to invest with Marcus Today? Our MT20 portfolio is designed for investors seeking exposure to our strategy while we do the hard work for you. If you're looking for personal financial advice, our friends at Clime Investment Management can help. Their team of licensed advisers operates across most states, offering tailored financial planning services.  Why not sign up for a free trial? Gain access to expert insights, research, and analysis to become a better investor.

Recording date: 10th December 2025Olive Resource Capital's November 2025 portfolio performance—reaching year-to-date highs despite October's commodity market volatility—demonstrates the strategic value of disciplined gold position management within diversified resource portfolios. Whilst the firm identifies compelling contrarian opportunities in oil equities trading at generational lows, their analysis paradoxically reinforces gold's foundational importance through quantitative validation and macro context.The most striking evidence emerges from commodity ratio analysis. The oil-to-gold ratio currently sits at 20% of its 25-year historical average, representing an extraordinary dislocation that simultaneously confirms oil's severe undervaluation and validates gold's exceptional relative strength. This 500% premium to historical norms reflects fundamental repricing within commodity markets, with gold demonstrating superior pricing power amidst coordinated global liquidity expansion.Executive Chairman Derek McPherson and President & CEO Samuel Pelaez articulated the macro framework supporting hard asset valuations: persistent deficit spending across the United States, China, Canada, and European nations creates monetary conditions under which gold has historically thrived. "There is tons of liquidity coming and so your hard assets which oil is one of are going to be economic at least economic stability if not economic growth," McPherson explained, referencing macroeconomist Lyn Alden's observation that debt-financed economic support creates inexorable momentum favouring tangible assets over financial claims.China's commodity accumulation behaviour provides instructive parallels. The nation's documented gold reserve building during 2022-2024 contributed significantly to gold's rally from $1,800 to over $4,000 per ounce. Now applying similar logic to crude oil—stockpiling 700,000 barrels daily beyond refining needs—China demonstrates sovereign recognition of strategic hard asset acquisition during relative weakness. This pattern validates gold's completed appreciation cycle whilst identifying emerging opportunities in complementary commodities.Olive Resource Capital's tactical approach exemplifies professional position management. The team trimmed gold exposure during September 2025's strength, capturing profits whilst maintaining strategic core holdings, then added positions during October-November weakness at improved valuations. "We've actually been adding positions and effectively reducing our cash balance," McPherson confirmed, describing deployment across selective gold equities alongside exploratory oil positions.This disciplined rebalancing contrasts sharply with wholesale rotation between commodity sectors. Gold maintains permanent strategic importance through unique characteristics: portfolio insurance properties, liquidity during market stress, and systematic sensitivity to monetary conditions. Whilst cyclical opportunities in energy or base metals may offer superior near-term returns, gold provides stability and appreciation independent of specific economic outcomes.The investment framework applies across commodity cycles. Pelaez referenced Agnico Eagle's 20-30x return from 2015-2025, demonstrating rewards from acquiring premier assets during sector pessimism. "You can buy top of class best management best run companies and you still stand an opportunity to make multiples on your money," he observed regarding current oil valuations—a principle equally applicable to quality gold producers offering continued leverage to further monetary metal appreciation.For sophisticated investors, gold's role transcends cyclical trading. The monetary environment—coordinated deficit spending, currency debasement, sovereign reserve diversification—creates conditions for sustained appreciation whilst maintaining portfolio foundation that enables tactical exploration of complementary opportunities. The lesson from Olive Resource Capital proves clear: gold serves as strategic anchor whilst other commodity sectors rotate through relative value cycles.Learn more: https://cruxinvestor.comSign up for Crux Investor: https://cruxinvestor.com

Interview with David Wolfin, President and CEO, Avino Silver & GoldOur previous interview: https://www.cruxinvestor.com/posts/avino-silver-gold-tsxasm-junior-to-intermediate-producer-transformation-underway-8062Recording date: 9th December 2025Avino Silver & Gold Mines Limited is executing an ambitious expansion plan to transform from a single-asset producer into a diversified mid-tier mining company. The Mexico-based operation, which traces its roots to 1968, currently generates between 2.5 and 2.8 million ounces of silver equivalent annually and aims to triple its producing asset base within five years through organic development of properties it already owns.The company's third quarter 2025 results underscore the financial strength supporting this growth trajectory. Avino achieved record revenues of $21 million USD with $9.9 million in gross profit and approximately $5 million in free cash flow. All-in sustaining costs remain in the low $20s per ounce, creating substantial margins as silver approaches $60 per ounce. Revenue composition is diversified across 49% silver, 19% gold, and 31% copper, providing natural commodity price hedging.La Preciosa represents the most immediate production catalyst. Located 19 kilometers from the existing Avino mill, the project commenced ore extraction one month ahead of schedule, shipping over 6,700 tons during the recent quarter. Early drilling results have significantly exceeded previous feasibility estimates, with intercepts reaching 787 grams per ton of silver compared to the 200 g/t resource grade established by prior operator Coeur Mining. President and CEO David Wolfin noted these high-grade hits suggest actual mining grades will substantially exceed earlier projections.The company's third potential producing asset involves reprocessing historical oxide tailings adjacent to current operations. With 6.7 million tons in proven and probable reserves and capital requirements under $50 million, the project offers particularly attractive economics with projected all-in sustaining costs around $10 per ounce. At current metal prices, Wolfin estimates the project's net present value at approximately $250 million.Supporting this expansion, Avino has more than doubled its exploration budget for 2026, planning 20,000 to 30,000 meters of drilling across both properties. Institutional ownership has risen from under 10% to 32% over two years through organic open-market purchases, validating the growth thesis. Management expects to release updated resource and reserve estimates for both La Preciosa and Avino in the first quarter of 2026.Learn more: https://www.cruxinvestor.com/companies/avino-silver-gold-mines-ltdSign up for Crux Investor: https://cruxinvestor.com

Interview with Marcio Fonseca, President & CEO, and Daniel Schieber, VP Corporate Development & Corporate Relations of GR Silver Mining.Our previous interview: https://www.cruxinvestor.com/posts/gr-silver-mining-tsxvgrsl-pitch-perfect-october-2025-8302Recording date: 10th December 2025GR Silver Mining has positioned itself at the forefront of Mexico's silver exploration sector following a transformational 2025 that saw the company secure $17.5 million in financing, bringing total cash to approximately $28 million CAD—the strongest balance sheet in company history. This capital infusion, primarily from institutional investors and experienced Canadian capital markets participants, provides 12-18 months of fully-funded operations to execute an aggressive 2026 exploration program without near-term dilution concerns.The company's San Marcial silver discovery hosts 134 million ounces of silver equivalent resources discovered at industry-leading costs of just 17 cents per ounce, generating approximately five ounces of resources for every dollar invested in drilling. With only 20% of the primary geophysical anomaly tested to date, management plans to more than double historical drilling meterage in 2026, targeting over 36,000 meters with multiple rigs operating simultaneously under a five-year permit covering 46 drill sites. This aggressive approach aims to expand the resource footprint by 600-800 meters along strike while testing parallel zones that could significantly increase the overall resource base.GR Silver's dual-track strategy combines resource growth at San Marcial with pilot plant development at the fully-permitted historic Plomosas mine, creating near-term production optionality while de-risking San Marcial's permitting pathway. The company has identified 21 mining areas at Plomosas requiring no development capital, with existing infrastructure including power, water permits, and tailings facilities that would otherwise represent major capital expenditures and multi-year permitting delays.Toronto analysts indicate in-situ valuations for comparable companies typically range $3-4 per ounce of silver resources, yet GR Silver trades at approximately $1 per in-situ ounce. Located just 40 kilometers from Vizsla Silver's $2.5 billion market cap Panuco project, GR Silver's current valuation is roughly 20 times smaller despite resources one-third the size, suggesting substantial re-rating potential as the company advances toward its first Preliminary Economic Assessment scheduled for 2026 while maintaining top 10 TSX Venture trading status with 6.5-7 million shares daily volume.—View GR Silver Mining's company profile: https://www.cruxinvestor.com/companies/gr-silver-miningSign up for Crux Investor: https://cruxinvestor.com

Interview with Gordon Neal, President, Domestic Metals Recording date: 9th December 2025Domestic Metals has acquired a promising Montana copper porphyry project from Rio Tinto through an earn-in agreement that highlights the property's significant potential. The company can earn 60% ownership by spending $3.15 million USD on exploration work, with Rio Tinto retaining 40% plus an unusual 20% clawback provision—a protective measure that underscores the major miner's conviction in the project's long-term value.The Smart Creek-Sunrise property occupies compelling geological ground, located 50 kilometers northwest of the historic Butte mine, which has produced 22 billion pounds of copper over a century. The project sits within the same Helena formation geology, with company geologists noting that rocks match Butte's characteristics in age and composition. Rio Tinto drilled 26 of 40 total holes on the property, with results improving progressively from southeast to northwest. The best intercept to date shows 109 meters at 0.75% copper, including 80 meters at 0.97% copper, suggesting drilling was advancing toward rather than away from the porphyry center.President Gordon Neal brings proven credentials, having built MAG Silver from $50 million to $2.5 billion market capitalization and New Pacific Metals from $100 million to $1.5 billion. His track record in capital markets and project development provides credibility to the company's exploration strategy.The company recently raised $4 million to fund comprehensive IP and magnetotelluric geophysical surveys in January-February 2026, followed by 3,000+ meters of drilling starting February-March. Assay results are expected April-May 2026. A critical advantage is Montana's streamlined permitting environment, with drill permits obtained in four months versus 5-7 years in Arizona. The Forest Service recently extended 36 expired drill permits using existing paperwork—unprecedented flexibility that enables rapid, capital-efficient advancement of what could become a significant domestic copper discovery.Sign up for Crux Investor: https://cruxinvestor.com

Nuclear energy is now widely seen as one part of the solution to reducing carbon emissions. But how much of a profile did it get at COP30 - the 30th UN Climate Change Conference, held in Belém, Brazil?Jonathan Cobb, Senior Programme Lead, Climate, for World Nuclear Association, was in Brazil for the event and in this edition he outlines what was achieved, and not achieved, at COP30 and what the significant moments were for nuclear energy.He looks ahead to the next editions of COP - in Turkey and Ethiopia - before COP33, which will be held somewhere in Southeast Asia in 2028, and which is due to be when all the National Determined Constributions will have to have been submitted, with a new global stocktake document to be agreed.Also in this edition we hear from Thomas Lamb, CEO of Myriad Uranium, who talks about the history of, and his hopes for, their Copper Mountain project in Wyoming in the USA. He also considers the impact of AI on uranium exploration.Key links to find out more:World Nuclear NewsEmail newsletter:Sign up to the World Nuclear News daily or weekly news round-upsContact info:alex.hunt@world-nuclear.orgEpisode credit:  Presenter Alex Hunt. Co-produced and mixed by Pixelkisser Production

Interview with Alex Walker, CEO, East Star ResourcesOur previous interview: https://www.cruxinvestor.com/posts/east-star-resources-lseest-driving-towards-near-term-copper-production-in-kazakhstan-4519Recording date: 9th December 2025East Star Resources (LSE: EST) has established a distinctive development model for junior mining companies, securing strategic partnerships that fund exploration and production while maintaining significant equity positions across multiple copper and gold projects in Kazakhstan.The company's approach centers on two major partnerships that fundamentally alter its capital structure. Endeavour Mining, a FTSE 100 company, has committed $5 million over two years with potential for an additional $20 million, while simultaneously taking an equity position to become East Star's largest shareholder. The joint venture targets tier-one gold discoveries of 3+ million ounces, with Endeavour carrying East Star through to prefeasibility studies on successful projects where the company retains 20% ownership.Separately, Hong Kong Shanghai Mining Services - an EPCM contractor that has built over 500 processing plants globally - will fully fund development of the Verkhuba copper deposit to production. East Star retains 30% ownership of the 20 million ton resource grading 1.2% copper without contributing additional capital, with production targeted for 2027-2028.CEO Alex Walker explained the strategy addresses fundamental challenges facing junior explorers: "You can spend a few million dollars per target and not have enough to show for it." The partnership structure allows East Star to advance multiple projects simultaneously while achieving cash flow neutrality in 2026 through management fees and partner funding.The company maintains 100% ownership of three porphyry projects and the Rulikha VMS deposit, which hosts a 500,000+ ton copper equivalent exploration target based on digitized Soviet drilling data. This retained optionality provides leverage to future copper price movements and additional partnership opportunities.Kazakhstan's reformed mining code, modeled on Western Australia's first-come-first-serve system, combined with extensive infrastructure including smelters, railways, and concentrators, provides what Walker describes as "the cheapest place in the world to dig a hole." Recent entry by Ivanhoe, Rio Tinto, and First Quantum validates the jurisdiction's emerging status as a strategic copper-gold province.Learn more: https://www.cruxinvestor.com/companies/east-star-resourcesSign up for Crux Investor: https://cruxinvestor.com

Interview with Blake Hylands, CEO, Lithium Ionic Our previous interview: https://www.cruxinvestor.com/posts/lithium-ionic-tsxvlth-low-cost-brazil-mine-ready-for-2027-production-as-market-rebalances-8304Recording date: 9th December 2025Lithium Ionic is positioning itself to capitalize on a dramatic market recovery as lithium prices have tripled since mid-2025, driven by energy storage demand exceeding initial projections. CEO Blake Hylands reports the company's stock has doubled during this period but remains "massively undervalued" relative to improving fundamentals and the company's proximity to construction.The company is advancing its Brazilian lithium project with a manageable $191 million capital requirement and industry-leading economics. At $600 all-in sustaining costs, the project maintains profitability even when spot prices dipped to $800-900, providing crucial downside protection that higher-cost competitors lack. Current spot prices around $1,200 offer healthy margins, with the project's feasibility study using conservative assumptions below today's pricing.Hylands emphasised that 2026 represents a transformational year, with construction targeted to begin by mid-year. The company has assembled the experienced "Sigma team" that successfully built the Sigma Lithium project, providing execution credibility and enabling an 18-24 month timeline to production once construction commences. This speed advantage is significant, as competing projects remain 5-10 years from production.Progress on project financing has accelerated substantially, with the company "being inundated with offtake and prepay opportunities" as market participants rush to secure future supply. Multiple lenders have expressed interest in financing the entire project, with discussions spanning China, North America, and other jurisdictions. The financing structure will incorporate near-term debt followed by lower-cost options including export credit agencies and government-backed facilities.The permitting process is advancing through new regional procedures, with strong federal and state government support. Both financing and permits are expected to conclude early in 2026, clearing the path for construction. Hylands set clear accountability metrics, stating "anything less than that, I'd be disappointed" regarding the company's ability to announce financing completion, permit approval, and construction commencement by year-end 2026.Learn more: https://www.cruxinvestor.com/companies/lithium-ionic-corpSign up for Crux Investor: https://cruxinvestor.com

Interview with Alan Carter, President & CEO of Cabral Gold Inc.Our previous interview: https://www.cruxinvestor.com/posts/cabral-gold-tsxvcbr-pitch-perfect-november-2025-8486Recording date: 10th December 2025Cabral Gold Inc. (TSXV:CBR) has secured $45 million US in gold loan financing to construct its first mine at the Cuiú Cuiú project in northern Brazil, with commercial production targeted for Q4 2026. The financing structure avoids equity dilution during the critical construction phase, preserving shareholder value whilst enabling the company's transition from explorer to cash-generating producer.Construction activities have accelerated substantially with 143 personnel on site, 50 pieces of heavy equipment operational, and major foundation concrete pours scheduled by year-end. President and CEO Alan Carter confirmed: "We recently raised $45 million US through a gold loan. Projects in construction. We should be producing gold in the fourth quarter of 2026," noting "there was no equity raise as part of that, which I think surprised a lot of people."The project benefits from unusually deep oxide weathering averaging 60 metres – a geological characteristic Carter describes as "quite unusual from most gold deposits around the world." This creates substantial free-digging material processable through simple metallurgical circuits without conventional crushing and grinding infrastructure, enabling low-capital initial operations.Cabral's strategic differentiation centres on its two-stage development approach designed to eliminate serial equity dilution. The initial 1,500 tonnes per day oxide operation generates internal cash flow to fund aggressive exploration of much larger hard rock resources beneath the weathered zone, transforming the company from market-dependent explorer into self-funding entity. Carter articulated the rationale: "We think that the best way to fund all that work that needs to be done is not by continually diluting the capital structure and doing private placement after private placement and ending up with a massive number of shares issued and outstanding."Unlike typical developers focused solely on construction execution, Cabral maintains three drill rigs and 80 exploration personnel operating concurrently with mine building. Recent drone magnetic surveys confirmed clear structural continuity over 2 kilometres between the Central deposit and PDM discovery, with reconnaissance drilling validating gold intersections along the newly identified trend. Carter characterised this as "tremendously exciting," substantially expanding prospective ground between known deposits.Management describes Cuiú Cuiú as a district-scale gold system with four new discoveries since the 2022 resource estimate and 50 additional peripheral targets with identified gold. Carter positioned the oxide operation within this broader context: "The bigger prize at Cuiú Cuiú is the definition of this very, very large gold district that clearly contains multiple deposits."The permitting pathway utilises Brazilian trial mining licences for initial operations with full mining licence approval for 3,000 tonnes per day expansion anticipated January 2026. Recent public consultations demonstrated no community opposition, de-risking regulatory progression. The full permit isn't operationally required until mid-2027, providing comfortable scheduling buffer.Project execution benefits from experienced Brazilian mining personnel including Luis Salaro, who has built multiple coal mines in Brazil, alongside Ausenco engineering support and what Carter describes as "a very impressive group of consultants."Cabral's investment proposition combines near-term production catalyst, non-dilutive financing preserving equity value, and district-scale exploration potential funded through internal cash generation. The parallel execution of construction and exploration positions the company to enter production with an expanded resource base rather than simply a built mine processing fixed inventory, creating multiple value drivers as Cabral transitions from explorer to cash-generating producer with growth optionality in a strong gold price environment.View Cabral Gold's company profile:https://www.cruxinvestor.com/companies/cabral-goldSign up for Crux Investor: https://cruxinvestor.com

Interview with Dennis Lindgren, CEO of Black Bear MineralsRecording date: 10th December 2025Black Bear Minerals (ASX:BKB) has completed a strategic transformation from lithium explorer to focused North American precious metals developer, acquiring the Shafter Silver Project in Texas for A$30 million whilst advancing the Independence Gold Project in Nevada. This repositioning positions the company at the intersection of exceptional resource grades, existing production infrastructure, and America's growing recognition of critical mineral supply vulnerabilities.The flagship Shafter Project hosts 17.6 million ounces at 289 grams per tonne silver in foreign resource estimates, ranking amongst the ASX's highest-grade silver resources. CEO Dennis Lindgren, formerly with South32 and Alcoa, emphasises the infrastructure advantage: "It's one of the highest grade silver projects on the ASX. It comes with about 150 million in estimated infrastructure and that includes existing underground workings, existing core sheds as well as historical data." This existing infrastructure—including underground workings, mill circuits, and processing facilities operational until 2013—potentially compresses development timelines by years compared to greenfield competitors.Near-term catalysts centre on JORC-compliant resource conversion targeted for the second half of 2026, supported by A$17 million working capital allocated for drilling programmes. Recent rock chip sampling has returned exceptional grades exceeding 3,000 g/t from near-surface areas outside the current resource footprint, whilst historical stockpile evaluation reveals grades averaging over 300 g/t, suggesting previous operators may have applied inappropriate cutoff grades or overlooked valuable mineralization.Beyond silver-focused historical operations, Black Bear's technical review has identified multicommodity potential including zinc, lead, vanadium, and gold across multiple locations. Lindgren noted: "We're picking up really good levels of zinc and lead that we would consider as targets to go forward with." This creates potential by-product credits that could materially improve project economics whilst expanding exploration vectors beyond current silver-equivalent resource calculations.Silver's designation as a US critical mineral fundamentally alters the strategic context surrounding domestic production projects. America produces approximately 30 million ounces annually whilst consuming over 210 million ounces—importing roughly 85% of requirements despite the metal's critical status for national security and economic competitiveness. Lindgren articulated the supply-demand imbalance: "Having another US domestic asset that can actually supply into those markets we think is something that's very attractive particularly with it being critical now."Jurisdictional advantages strengthen Black Bear's development pathway. Texas ranks within the top five global mining jurisdictions with 20% tax rates, partial permitting already in place, and strong community support in Presidio County. Proximity to major Mexican silver operations ensures access to experienced workforce and established supply chains.Portfolio diversification comes through Independence Gold Project in Nevada, hosting 419,000 ounces of near-surface heap-leachable gold at 0.4 g/t and 980,000 ounces of high-grade skarn mineralisation at 6.67 g/t. The company recently completed 5,000 metres of drilling exceeding planned programmes, with assay results expected in early 2026.Management's measured approach prioritises resource definition and JORC compliance over premature production planning, appropriate given recent acquisition timing. However, the infrastructure leverage and critical mineral designation create optionality for accelerated development should commodity fundamentals, government support, or strategic partnerships materialise. Investors should monitor JORC conversion progress, drilling results from both projects, and infrastructure assessment studies as key milestones determining whether Black Bear can validate its high-grade silver thesis and capitalise on structural supply deficits facing American consumers.Learn more: https://cruxinvestor.comSign up for Crux Investor: https://cruxinvestor.com

This Morning's Headlines1. Chip ecosystem2. Uranium talks3. UN maritime meeting4. Coupang CEO resigns5. Fed cuts rates

As the global demand for clean energy intensifies, nuclear power is enjoying a resurgence not seen in decades. However, this renewed interest has exposed a critical vulnerability in the U.S. energy sector: a massive disconnect between uranium consumption and domestic production. As a guest on The POWER Podcast, Thomas Lamb, president and CEO of Myriad Uranium, discussed some of the complexities of the nuclear fuel cycle and how junior exploration companies are racing to secure America's energy future. The Great American Supply Deficit To understand the urgency of the current uranium market, one must first grasp the sheer scale of consumption. A single large-scale nuclear reactor consumes approximately 400,000 to 500,000 pounds of uranium oxide concentrate (U3O8) annually, depending on design, capacity, and operating efficiency. The U.S. operates 94 commercial reactors today, resulting in a national consumption of roughly 37 million to 47 million pounds of U3O8 per year. The domestic production figures, however, paint a starkly contrasting picture. “The United States consumes, for very round numbers, 50 million pounds of uranium per year, and produces a million pounds of uranium per year,” Lamb explained. To be more specific, the U.S. Energy Information Administration reported that domestic production of U3O8 was 677,000 pounds in 2024, and it's been much lower than that in the not-too-distant past. This imbalance creates a precarious reliance on foreign imports. Lamb noted that Kazakhstan alone produces more than 40% of the world's uranium. More concerning for U.S. national security is the country's reliance on Russia, where a surprisingly high percentage of U.S. reactor fuel bundles are sourced. “You have a worldwide supply deficit, and then you have an enormous domestic production deficit in the United States relative to consumption. That makes the U.S. vulnerable,” Lamb said. “What if Kazakhstan, China, [and] Russia kind of work together? What if they cut off the United States? What if some other things happen? The U.S. could be short of uranium.” Revitalizing History: The Copper Mountain Project Myriad Uranium is positioning itself to fill this gap by revitalizing past assets rather than starting from scratch. The company's flagship asset, the Copper Mountain Uranium Project in Wyoming, was a focal point of Union Pacific's energy subsidiary in the 1970s. Union Pacific invested approximately CA$117 million (in 2024 dollars, US$84.7 million) into the site, planning a large-scale mine to fuel reactors in Southern California that were ultimately never built due to the post-1979 nuclear freeze. Because the project was abandoned due to external market forces rather than a lack of resources, it represents a “brownfield” opportunity. “In our case, we already know it's there because a lot of the work was done,” Lamb said. “Now, we just have to … bring the information current,” he added.

Interview with Allan Ritchie, Executive Chairman & CEO and David Ward, Managing Director of Adavale ResourcesRecording date: 9th December 2025Adavale Resources Limited (ASX: ADD) has emerged as a compelling Australian gold story, having transformed a A$900,000 acquisition into a 115,000-ounce JORC resource at the London-Victoria project in just nine months. The former BHP gold mine in New South Wales' prolific Lachlan Fold Belt is now the focus of an aggressive exploration and development program led by a management team with significant skin in the game.Executive Chairman Allan Ritchie and newly appointed Managing Director David Ward have structured the company to maximize shareholder alignment. All four directors collectively own over 5% of Adavale and take their remuneration exclusively in shares rather than cash, ensuring minimal corporate overhead. This approach is backed by cornerstone investor Gleneden, who holds 20% of the company and brings decades of resources sector expertise.The technical progress at London-Victoria has been impressive. Phase 1 drilling delivered standout results including 48 meters at 0.82 grams per ton gold, with high-grade zones of 25 meters at 1.2 g/t located 100 meters below the existing pit. Significantly, this intercept occurred outside the current resource envelope, indicating substantial expansion potential. Ward's historical knowledge of the site—having worked for the previous operator—combined with the recent discovery of hundreds of historic BHP grade control maps, is accelerating targeting accuracy.The company employs a dual-strategy approach: advancing London-Victoria toward near-term production through tolling agreements with nearby Alkane Resources' Tomingley facility (50km away), while systematically exploring five greenfields licenses for epithermal and porphyry discoveries. Surface samples at the Ashes prospect have returned up to 10 grams per ton gold, demonstrating early-stage promise.With Phase 2 drilling currently underway at a cost-effective A$350,000 for 13-14 holes, Adavale is executing a capital-efficient program that maintains multiple pathways to value creation in a favorable gold price environment exceeding A$4,000 per ounce.Learn more: https://www.cruxinvestor.com/companies/adavale-resourcesSign up for Crux Investor: https://cruxinvestor.com

Interview with Simon Studer, interim CEO, Kingman MineralsRecording date: 9th December 2025Kingman Minerals Ltd. is advancing plans to revive a 140-year-old gold and silver mine in Arizona's Mohave County, with exploration work set to commence in early 2026. Under the leadership of interim CEO Simon Studer, the company recently completed an oversubscribed $1.5 million financing round that brings total treasury to $2.1 million—sufficient to fund the year's entire exploration program.The Rosebud Mine, discovered in the 1880s and active during the 1920s and 1930s, has yielded remarkably high-grade results in recent sampling. Underground channel samples collected in 2020 revealed values up to 688 grams per ton gold from material left behind by earlier operators. Historical drilling has shown grades ranging from 9-13 grams per ton over 2-meter intervals, though no modern compliant resource estimate currently exists.What makes this opportunity particularly intriguing is that previous operators exclusively focused on the shallow oxide zone above 100 meters depth, never systematically exploring the deeper sulfide mineralization that could represent the bulk of the deposit. The property shows evidence of at least eight distinct sub-parallel vein structures, most of which remain inadequately tested.The 2026 exploration program begins with drone-based magnetometry in mid-December 2025, covering the entire 590-hectare Mohave project area. This geophysical work will provide 3D structural modeling to optimize drill targeting. Drilling is scheduled to begin in Q1 2026, initially testing strike extensions of the two most productive historic veins before expanding to parallel structures.With approximately 42 million shares outstanding and a market capitalization around $4 million, management believes the company is significantly undervalued relative to its high-grade potential and production history. The combination of proven mineralization, systematic modern exploration approach, and 60% insider ownership creates what Studer characterizes as a compelling risk-reward proposition in the junior gold exploration space, particularly given Arizona's favorable mining jurisdiction and existing underground infrastructure.Learn more: https://www.cruxinvestor.com/companies/kingman-mineralsSign up for Crux Investor: https://cruxinvestor.com

Interview with Peter Secker, CEO of Canyon ResourcesOur previous interview: https://www.cruxinvestor.com/posts/canyon-resources-asxcay-fast-tracking-worlds-largest-high-grade-bauxite-development-7892Recording date: 5th December 2025Canyon Resources (ASX:CAY) is advancing rapidly toward mid-2026 production at its Minim Martap bauxite project in Cameroon, executing one of the mining industry's most compressed development timelines. The company has progressed from mining license approval in late 2024 to full development mode, with all major equipment ordered and financing secured.The project's economics are compelling: a pre-tax net present value exceeding $800 million, 29% internal rate of return, and modest capital costs of just $97 million to first production. Operating costs of $35 per ton position Minim Martap competitively in the global market, particularly given the premium-grade ore quality of 51% alumina with less than 2% silica. This quality commands a $10 premium over Guinea's standard pricing, translating to margins of $25-30 per ton at current market prices of approximately $81-82 per ton.CEO Peter Secker emphasized the project's market timing: "Chinese demand for bauxite is strong. Guinea obviously have a few problems with some decisions they've made recently. So everybody is looking for an alternate source of bauxite and Minim Martap coming on stream mid next year. Perfect timing."The development's critical path centers on rail infrastructure. Locomotives ordered from China will arrive in February 2026, with commissioning in March to enable ore hauling by April. The mining contractor, experienced in African bauxite operations, mobilizes in January. Initial production of 2 million tons annually will scale dramatically to 10 million tons by 2031 as World Bank-funded rail upgrades totaling $820 million are completed, potentially generating $200 million in annual free cash flow.Canyon has also raised equity to increase its Camrail stake from 9% to over 30%, seeking operational control over the critical 800-kilometer rail corridor to the Port of Douala. As Cameroon's first major mining project, Minim Martap benefits from strong government support and first-mover advantages in an emerging jurisdiction with significant mineral potential across multiple commodities.View Canyon Resources' company profile: https://www.cruxinvestor.com/companies/canyon-resourcesSign up for Crux Investor: https://cruxinvestor.com

Interview with Trent Mell, CEO of Electra Battery Materials Corp.Our previous interview: https://www.cruxinvestor.com/posts/electra-battery-metals-tsxvelbm-pioneering-north-americas-critical-mineral-independence-7527Recording date: 5th December 2025Electra Battery Materials is progressing with construction of North America's first battery-grade cobalt refinery, marking a significant step toward reducing Western dependence on Chinese critical mineral processing. The Canadian facility, located just north of Toronto, targets production of 6,500 tons annually starting in 2027.CEO Trent Mell described the company's transformation as "Electra 2.0" following a comprehensive financial restructuring. The company raised $82.5 million in new capital from three levels of government, including the U.S. Department of Defense, alongside private investors. Simultaneously, lenders converted 60% of $67 million in debt to equity, demonstrating confidence in the project's viability. This recapitalization addresses the financial constraints that had paralyzed development over the previous two years.The brownfield refinery redevelopment carries an estimated capital expenditure of $69 million and is valued at over $250 million upon completion. At full capacity, the facility targets $30 million in annual EBITDA, with first-year production expected to generate $15-18 million during the 12-month ramp-up period.Commercial stability comes from a five-year tolling agreement with LG, the largest non-Chinese cobalt buyer globally. This contract covers 60-80% of production at fixed processing margins, insulating Electra from cobalt price volatility. Mell emphasized a conservative approach: "Don't get greedy. Lock in a margin. Let's just not mess it up."Demand fundamentals remain robust despite slower electric vehicle adoption rates. Mell noted that industrial and defense applications, including military drones and night vision goggles, would consume the facility's entire output even without EV demand. Indicative interest already stands at twice production capacity.The 2026 construction timeline includes contractor selection in December 2025, with detailed budgets released in January 2026. Cold commissioning begins late 2026, positioning the facility for commercial production throughout 2027. China currently controls approximately 70% of global cobalt refining capacity, making Electra's domestic processing capability strategically significant for North American supply chain security.View Electra Battery Metals' company profile: https://www.cruxinvestor.com/companies/electra-battery-metalsSign up for Crux Investor: https://cruxinvestor.com

Interview with Chris Doornbos, President & CEO of E3 Lithium Ltd.Our previous interview: https://www.cruxinvestor.com/posts/e3-lithium-tsxvetl-pioneering-lithium-development-in-the-heart-of-canadas-energy-industry-5064Recording date: 5th December 2025E3 Lithium has achieved significant technical and regulatory milestones as it advances its Alberta-based direct lithium extraction project toward commercial production by 2028/29. The company successfully commissioned its demonstration facility in September 2025, producing battery-grade lithium carbonate within just three weeks—a timeline CEO Chris Doornbos described as "generally not heard of" for such complex processing equipment. This achievement validates E3's proprietary 30-column DLE system while delivering recovery rates exceeding 95% at the extraction stage.The technical progress comes amid a recovering lithium market, with prices climbing approximately 40% from June 2025 lows. Doornbos attributes this recovery to tight supply-demand fundamentals rather than speculation, noting that demand continues growing from Chinese EV markets, battery storage facilities, and increasingly from US data center infrastructure. With 75% of global lithium production concentrated in China, Western governments are prioritizing domestic supply chain development, creating favorable policy conditions for North American developers.E3 has strategically recalibrated its commercialization approach, targeting 12,000 tons annual carbonate production for Phase 1 rather than the previously planned 32,000 tons of hydroxide. This revision reduces initial capital requirements while maintaining competitive economics at approximately $73,000 per installed ton—comparable to Rio Tinto's portfolio average. The company's Leduc aquifer operates at 16 times atmospheric pressure, essentially self-delivering brine and dramatically reducing operational pumping costs.On the regulatory front, E3 received Alberta's first lithium facility license under the province's brine-hosted mineral scheme and has submitted its Environmental Protection and Enhancement Act application, with commercial facility permits advancing through 2026. CEO Doornbos has transitioned to Executive Chairman to focus specifically on securing offtake agreements and project financing, reflecting management's confidence in the technical team's execution capabilities as the project moves toward construction and commercial operations amid North America's projected 300,000-ton lithium deficit through 2030.Viee E3 Lithium's company profile: https://www.cruxinvestor.com/companies/e3-lithiumSign up for Crux Investor: https://cruxinvestor.com

Arthur Breitman, the co-founder of Tezos, is a computer scientist and entrepreneur. Arthur has a background in mathematics and computer science, and prior to the Tezos project, he worked in quantitative finance at Goldman Sachs and Morgan Stanley, and as a research engineer at Google and Waymo. Arthur graduated from the École Polytechnique and the Courant Institute of NYU where he studied applied mathematics. Arthur is a member of the Tezos Foundation Council and is also a director at Trilitech, a London-based adoption team for the Tezos blockchain. In this conversation, we discuss:- Tokenized uranium - Quantum's threat to Bitcoin - Deep dive on Tezos blockchain - Proof-of-stake is the best consensus - There is no PMF for security on blockchains - The emergence of Tezos as the artists' blockchain - EVM compatibility layer - 19 upgrades without a hard fork - The Data Availability Layer deep dive - The future of Tezos TezosX: @tezosWebsite: tezos.comLinkedIn: TezosArthur BreitmanX: @ArthurBLinkedIn: Arthur Breitman---------------------------------------------------------------------------------This episode is brought to you by PrimeXBT.PrimeXBT offers a robust trading system for both beginners and professional traders that demand highly reliable market data and performance. Traders of all experience levels can easily design and customize layouts and widgets to best fit their trading style. PrimeXBT is always offering innovative products and professional trading conditions to all customers.  PrimeXBT is running an exclusive promotion for listeners of the podcast. After making your first deposit, 50% of that first deposit will be credited to your account as a bonus that can be used as additional collateral to open positions. Code: CRYPTONEWS50 This promotion is available for a month after activation. Click the link below: PrimeXBT x CRYPTONEWS50FollowApple PodcastsSpotifyAmazon MusicRSS FeedSee All

Dec 2, 2025 – Is uranium the next big investment? Discover why global energy shifts, tech-driven demand, and supply shortages could spark an ongoing uranium bull market. 13D's Woody Preucil discusses the future of nuclear and where...

Interview with Nick Smart, CEO of ValOre Metals Corp.Our previous interview: https://www.cruxinvestor.com/posts/valore-metals-tsxvvo-pitch-perfect-november-2025-8623Recording date: 3rd December 2025ValOre Metals is executing an ambitious transformation from single-asset platinum-palladium explorer into an integrated precious metals producer operating across Brazil. Under CEO Nick Smart—an Anglo American veteran with 21 years of experience building and commissioning operations globally—the company is pursuing a dual-track strategy: advancing the flagship Pedra Branca PGM project towards production whilst acquiring near-term cash-flowing assets to accelerate transformation into a diversified producer.The platinum-palladium market has shifted dramatically from anticipated decline to structural deficit. Contrary to earlier predictions that electric vehicles would eliminate PGM demand, hybrid vehicles—now representing a larger automotive segment than pure EVs—actually require higher loadings of platinum and palladium in autocatalysts due to smaller engines operating at lower temperatures. This has created steady demand whilst years of low prices discouraged new supply investment.South Africa holds 90% of global PGM resources, but ageing deep-level operations face mounting operational challenges and costs. With relatively few development-stage projects globally and extended timelines for new supply even once financed, the supply deficit appears structural. Global platinum production approximates 6 million ounces annually—a fraction of gold's 120 million ounces—meaning modest demand shifts drive significant price impacts. Industrial catalyst applications and jewellery substitution for record-priced gold provide additional demand support.ValOre's Pedra Branca project in Ceará State, Brazil, offers compelling economics compared to traditional PGM operations. Most significantly, mineralisation extends to surface, enabling open-pit mining rather than the expensive 600-800 metre deep underground operations characterising South African production. This provides substantial cost advantages—open-pit mining is cheaper and faster to develop than underground operations requiring massive shaft infrastructure investment.The Pedra Branca project holds a 2.2 million ounce inferred resource at 1.08 grams per tonne, with higher-grade ore near surface providing advantages for early production economics. The asset spans 50,000 hectares with mineralisation extending over 80 kilometres, suggesting expansion potential. Infrastructure advantages—stable jurisdiction, excellent access, supportive government policies—compound the geological benefits.Accelerated Development PathwayValOre is leveraging Brazil's trial mining licensing programme, which allows demonstration-scale operations at approximately one-tenth of planned full capacity. For Pedra Branca, targeting eventual production of 150,000 ounces annually, the trial mining phase would operate at approximately 15,000 ounces per annum. Following a preliminary economic assessment by end-2026 and an 18-month construction period, the company expects H2 2028 production. This phased approach reduces capital intensity, enables operational refinement, and generates cash flow supporting subsequent expansion.ValOre is actively pursuing Brazilian precious metal projects (particularly gold assets) that have completed trial mining but require capital for full production. The company targets acquisitions in early 2026 that would provide production that same year, ramping through 2027-2028 as Pedra Branca advances. As a Discovery Group-backed entity with North American capital access, ValOre can provide financing that Brazilian-domiciled companies struggle to secure.Acquiring projects with existing operational teams, completed engineering work, and functioning demonstration plants accelerates production whilst building internal capability. This dual-track approach—near-term production via M&A alongside Pedra Branca development—aims to transform ValOre from explorer to diversified producer within compressed timeframes across multiple Brazilian operations, establishing production profile whilst maintaining leverage to potential PGM price recovery.View ValOre Metals' company profile: https://www.cruxinvestor.com/companies/valore-metalsSign up for Crux Investor: https://cruxinvestor.com

Interview with Pascal Hamelin, President & CEO of Abcourt Mines Inc.Our previous interview: https://www.cruxinvestor.com/posts/abcourt-mines-tsxvabi-new-quebec-producer-positioned-for-growth-cash-flow-buybacks-8051Recording date: 3rd December 2025Abcourt Mines (TSXV:ABI) has successfully transitioned from exploration to production at its Sleeping Giant mine in Quebec, representing an increasingly rare case study in debt-financed mine development that avoids the severe shareholder dilution typical of traditional equity-financed builds. The company secured $12 million in financing from Nebari—including C$8 million initial tranche, $2 million follow-on, and $2 million used to buy down the Triple Flag NSR royalty from 2% to 1.5%—and commenced gold production.October 2025 production reached 475 ounces whilst operating at conservative staffing levels and building mill circuit inventory. Management projects cash flow positivity by Q2 2026 at approximately 700 ounces monthly production, with current monthly burn rate below $1 million. The Nebari credit facility includes a two-year interest-only period until July 2027, providing critical runway to demonstrate operational consistency and build cash reserves before principal repayments commence.The operational leverage inherent in Abcourt's asset base is substantial. The company operates an 800-tonne-per-day mill (permitted for 950 tonnes per day) currently running at less than 45% capacity. Management targets 350 tonnes per day by autumn 2025, with the mill processing all current mine production in approximately eight hours on day shift only. Plans include expanding to two shifts in early 2026 and eventually four shifts as production scales, providing a clear pathway to meaningful production growth without major capital investment.The constraint on production growth is labour availability rather than geological or metallurgical factors. CEO Pascal Hamelin explicitly stated: "It's not the feed, it's the people, that's the problem you're trying to solve for." The company has invested in infrastructure to address recruitment challenges, including a sleep camp commissioned in September 2024 with Phase Two expansion pending permit approval.The current mine plan supports seven years producing 25,000–33,000 ounces annually, with variation driven by grade. Management's strategic priority centres on extending mine life to 10+ years through three underground drill rigs at Sleeping Giant, then increasing mining fronts to utilise full mill capacity. This narrow-vein, high-grade mining approach—room-and-pillar methods targeting veins 30 centimetres to one metre wide—inherently limits tonnes but maximises grade, with underground samples showing visible gold exceeding 300 g/t.The Flordin discovery adds significant exploration upside. Systematic work exposed 300 metres of strike length grading 5 g/t gold over 15–20 metres width at surface, located 138 kilometres from existing mill infrastructure within a potential two-kilometre mineralised corridor. Abcourt has planned 20,000 metres of drilling for 2026—winter programmes targeting the eastern extension towards Agnico Eagle's adjacent property boundary, spring/summer/autumn programmes targeting northwestern extensions—entirely funded from operating cash flow.Management and directors hold approximately 30% ownership, having consistently supported development through equity investments. Shareholders have expressed preference for share buybacks over dividends once balance sheet permits, with capital allocation decisions driven by financial strength rather than arbitrary timelines.Sustained gold prices above US$4,000 per ounce have fundamentally improved narrow-vein deposit economics. Every US$100 increase translates to approximately US$2.5–3.3 million in additional annual revenue at current production guidance. The investment case depends on execution during the 18-month ramp-up period, successful miner recruitment, and drilling success at both assets to extend mine life and confirm district-scale potential at Flordin.View Abcourt Mines' company profile: https://www.cruxinvestor.com/companies/abcourt-mines-incSign up for Crux Investor: https://cruxinvestor.com

Interview with Jon Deluce, Founder & CEO of Abitibi Metals Corp.Our previous interview: https://www.cruxinvestor.com/posts/abitibi-metals-cseamq-high-grade-copper-expansion-project-in-canada-7823Recording date: 4th December 2025Abitibi Metals Corp. (CSE:AMQ) is rapidly emerging as a compelling copper-gold story in Quebec's prolific mining belt, with CEO Jon Deluce outlining a disciplined growth strategy centered on the company's flagship B26 deposit. After drilling over 25,000 meters in 2025, the company is targeting a substantial resource update to 25-30 million tons in 2026, up from the current 2+ million ounce gold equivalent resource.The drilling program has delivered exceptional results, including intercepts of 18% copper equivalent over 6.3 meters with 6 grams per ton gold, and 4.5% copper equivalent over 21 meters. These world-class grades demonstrate the deposit's polymetallic nature and draw comparisons to the historic Selbaie mine located just 7 kilometers away, which produced 53 million tons over two decades.Strategic capital management has been central to Abitibi's approach. The company recently completed a bought deal financing through BMO at 35 cents per share—a 65% premium to the September market price—with no warrants attached. This structure attracted institutional investors and built the treasury to $23-24 million, funding 45,000 meters of drilling through 2027 while maintaining a clean capital structure.With a market capitalization of $65 million and an enterprise value of just $40 million, Deluce believes the company remains undervalued relative to its resource potential. The 2026 exploration strategy balances systematic resource expansion through 150-meter infill drilling with aggressive 600-meter step-outs designed to test whether B26 could reach tier-one scale comparable to Selbaie's 60-million-ton endowment.Management has assembled an experienced advisory board including Victor Cantore, Craig Parry, and Shane Williams, positioning the company for Quebec's active M&A environment. Rather than accepting dilutive 20% strategic investments, Abitibi is selectively pursuing a 5% partnership with a Quebec producer that would provide validation without eliminating competitive tension or capping shareholder upside as the copper market potentially enters a sustained bull phase.View Abitibi Metals' company profile: https://www.cruxinvestor.com/companies/abitibi-metalsSign up for Crux Investor: https://cruxinvestor.com

Interview with Jeff Swinoga, CEO of Exploits Discovery Corp.Our previous interview: https://www.cruxinvestor.com/posts/exploits-discovery-csenfld-new-found-gold-deal-unlocks-10m-treasury-value-7947Recording date: 5th December 2025Exploits Discovery Corp (CSE:NFLD) is a resource-stage gold exploration company focused on advancing properties with established historic resources in premier Canadian mining jurisdictions including Quebec and Ontario. Today it has completed a transformational deal with New Found Gold, receiving 2.8 million shares now valued at over $11 million plus a 1% royalty on properties along the Appleton fault. CEO Jeff Swinoga discusses how the company has strategically repositioned from grassroots exploration to resource-stage development.Key Highlights:- New Found Gold Transaction: 2.8M shares valued at $11M+ (up from $7M at announcement) with 1% NSR royalty on Bullseye and other properties adjacent to Keats discovery.- Enhanced Treasury: Approximately $3.6M in working capital against $11M market cap - analyst Brian Lundin notes company is "trading at cash value" with investors getting "the gold for free"- Resource Portfolio: Acquired three Quebec properties and one district-scale Ontario asset containing ~700,000 ounces of historic gold resources.- January 2026 Drilling: Fenton property programme targeting high-grade gold along magnetic corridors intersecting diabase dykes, following extensive geophysical work- Strategic Backing: Eric Sprott holds ~14% ownership stakeSwinoga explains: "We wanted our shareholders to benefit from a rising gold price by having resources in the ground."The company is at an inflection point, transitioning from transaction completion to operational execution with immediate drilling catalysts and systematic technical work designed to improve targeting beyond previous operators' efforts.Learn more: https://cruxinvestor.comSign up for Crux Investor: https://cruxinvestor.com

Interview with Dan Wilton, CEO of First Mining Gold Corp.Our previous interview: https://www.cruxinvestor.com/posts/first-mining-gold-tsxff-approaching-key-permitting-milestone-6790Recording date: 4th December 2025First Mining Gold is approaching a pivotal moment in its development of two major Canadian gold projects, with CEO Dan Wilton outlining a clear pathway toward industry partnership and construction decisions over the next several years.The company's flagship Springpole project in Ontario, containing approximately 5 million ounces, awaits environmental assessment approval targeted for late Q1 or early Q2 2026. This milestone represents the culmination of an eight-year permitting process and addresses longstanding investor concerns about developing a deposit located in a lake bay. The recently updated prefeasibility study demonstrates robust economics with $2.1 billion after-tax NPV at $3,100 gold, rising to $3.8 billion at current spot prices of $4,200.Wilton emphasizes the project's exceptional gold price sensitivity, noting that "every hundred bucks the gold price goes up, that's $250 million of after tax NPV." Following environmental approval, the company plans to pursue an industry partnership modeled on Australia's Gold Road Resources, which retained 50% ownership while a partner built the mine, ultimately leading to a $2.5 billion acquisition.The company's second major asset, Duparquet in Quebec, contains 3.5 million ounces of measured and indicated resources and represents one of Canada's highest-grade open pit projects. Unlike Springpole, First Mining intends to advance Duparquet independently toward a potential 2030-31 construction decision, with the company currently expanding resources through ongoing drilling.First Mining has systematically monetized non-core assets, including recent partnerships on the Cameron project and retained interests in the high-grade Pickle Crow project. Trading at approximately $30 per ounce of resources compared to Canadian peer averages of $150-200 per ounce, Wilton frames the environmental assessment approval as "the biggest catalyst that we will see in this company probably from the time that it was formed."View First Mining Gold's company profile: https://www.cruxinvestor.com/companies/first-mining-goldSign up for Crux Investor: https://cruxinvestor.com

Interview with Chief Executive Officer, Keith BoyleOur previous interview: https://www.cruxinvestor.com/posts/new-found-gold-tsxvnfg-explorer-to-producer-8484Recording date: 3rd December 2025New Found Gold Corporation is executing a capital-efficient development strategy that combines near-term cash flow from the recently acquired Hammerdown mine with advancement of the flagship Queensway Gold Project in Newfoundland, Canada. The November 2025 Maritime Resources acquisition delivered two critical assets: a producing underground mine that poured first gold one day before closing, and the fully permitted Pine Cove mill that eliminates major infrastructure requirements for Queensway's planned 700-ton-per-day operation. Management's appointment of Cutfield Freeman to structure project financing for Queensway's $155 million initial capital requirement signals progress toward a debt-heavy capital structure, with Hammerdown cash flow serving as the equity portion to minimize shareholder dilution. Recent grade control drilling at five-meter spacing confirms exceptional grades at the Keats zone, with only 20% of results released from the 70,000-meter 2025 program. These dense drill patterns reduce estimation uncertainty in nuggety gold deposits and support anticipated resource upgrades in the 2026 technical report. Discovery of high-grade mineralization at Dropkick, located 11 kilometers from existing resources, demonstrates district-scale exploration potential beyond current mine plans. The company targets Q1 2026 permit submission for Queensway with approval expected in H2 2026, enabling development commencement toward late 2027 commercial production. Hammerdown is ramping to steady-state operations during H1 2026, providing cash generation that de-risks Queensway financing while maintaining exploration programs across both properties that could extend mine life and improve project economics.—Learn more: https://cruxinvestor.com/companies/new-found-goldSign up for Crux Investor: https://cruxinvestor.com

Interview with Nolan Peterson, CEO, Atlas SaltOur previous interview: https://www.cruxinvestor.com/posts/atlas-salt-tsxvsalt-all-known-questions-answered-november-2025-8553Recording date: 2nd December 2025Atlas Salt is advancing the Great Atlantic Salt project on Newfoundland's west coast to supply North America's deicing road salt market. The project targets production of 4 million tons annually by 2030-2033, representing approximately 10% of the northeastern US and eastern Canada market that consumes 30-36 million tons each year.The company offers rare public market exposure to a recession-proof commodity with stable demand fundamentals. CEO Nolan Peterson emphasizes the project's competitive advantages, particularly its three-day delivery capability compared to foreign competitors requiring approximately one month for vessel chartering and transit. This logistical edge proved critical during last winter's severe cold snaps when municipalities faced supply shortages and paid premium spot market prices.Total capital requirements reach C$590 million, phased over four to five years leading to 2030 production start. The financing structure reflects the project's low-risk profile, with Atlas Salt working to secure at least 60% debt financing from sovereign wealth funds, export development credit agencies, and major infrastructure banks. Recent working capital raises included a major Canadian pension fund, signaling institutional validation of the project's infrastructure-like characteristics.The deposit contains over one billion tons of reserves grading 96% pure salt, eliminating the metallurgical complexity that plagues most mining projects. Unlike conventional mines, operations simply extract product without chasing veins or managing tailings. Remaining project risks center on execution and financing rather than resource uncertainty.The project will create 200 direct jobs in rural Newfoundland with strong indigenous and local community support. Many potential employees currently fly to mines elsewhere in Canada and have expressed interest in repatriating for local employment opportunities. This stakeholder alignment distinguishes Atlas Salt from Canadian resource projects facing opposition, positioning it as what Peterson calls "a mine that everybody wants built" with profitability comparable to medium-sized gold operations.Learn more: https://www.cruxinvestor.com/companies/atlas-saltSign up for Crux Investor: https://cruxinvestor.com

Interview with Victor Cantore, CEO, Amex ExplorationOur previous interview: https://www.cruxinvestor.com/posts/high-grade-projects-target-2026-production-to-take-advantage-of-4200-gold-price-8291Recording date: 2nd December 2025Amex Exploration is advancing a gold development project in Quebec's Abitibi Greenstone belt that eliminates traditional mining financing challenges through a carefully structured phased approach. President and CEO Victor Cantore outlined how the company plans to bring its Perron property into production while maintaining an aggressive exploration program across more than 500 square kilometers of prospective ground.The company controls over 70 kilometers of strike length on one of the world's most prolific gold-producing regions. The Perron project hosts 831,000 ounces of gold at approximately half an ounce per ton, located adjacent to hydroelectric power, an available workforce, and supportive communities including local First Nations groups.Amex has structured a self-funding development model that avoids the capital-raising challenges facing most junior miners. Starting in 2027, the company will begin toll milling operations targeting 112,000 ounces annually at all-in sustaining costs around $1,100 per ounce. Pre-production revenue of $68 million combined with over $100 million from initial production phases will internally fund the $146 million capex requirement before any major construction begins."By 2027, when you're getting your first ore from there, even if gold is at $5,000 Canadian, which we're well above that today, that's over $100 million that's going to come in," Cantore explained. At gold prices exceeding $3,200 per ounce, the operation could generate margins of approximately $2,000 per ounce pre-tax.The phased approach deliberately avoids two common mining failures: tailings management facilities and incorrect mill sizing. After four years of toll milling providing operational data, Amex will invest $191 million in growth capital to build its own processing infrastructure. The company has already secured $25 million in exploration funding through 2026, supporting over 100,000 meters of drilling across existing properties and recently acquired Ontario assets. Future exploration will be funded from operating cash flow, eliminating shareholder dilution while expanding the resource base across this highly prospective land package.Learn more: https://www.cruxinvestor.com/companies/amex-explorationSign up for Crux Investor: https://cruxinvestor.com

Interview with George Bee, President and CEO, US Gold CorpOur previous interview: https://www.cruxinvestor.com/posts/us-gold-corp-nasdaqusau-permitted-gold-copper-project-targets-january-dfs-with-17moz-reserve-8558Recording date: 2nd December 2025US Gold Corp is positioning itself as one of the few fully permitted gold development projects in the United States as it prepares to release a feasibility study for its CK Gold Project in Wyoming. President and CEO George Bee, speaking at the Resourcing Tomorrow conference in London, outlined the company's timeline for transitioning from developer to producer while maintaining significant exploration upside in Nevada.The feasibility study, expected in January 2026, incorporates advanced Jameson cell flotation technology that delivers improved recovery rates with lower capital and operating costs compared to conventional processing methods. The company has also optimized its tailings management system, switching to continuous belt filtration for enhanced efficiency. While inflation will impact some cost estimates, Bee emphasized that rising gold, copper, and silver prices more than offset these increases.The CK Gold Project benefits from exceptional infrastructure, located just 90 minutes from Denver International Airport via interstate highways. This strategic positioning enables a daily commuting workforce, eliminating remote camp costs while providing access to established mining services. The local utility will provide power infrastructure through a substation connection, with the company paying only demand charges rather than capitalizing construction costs.Development activities have commenced with access road construction beginning December 2025 using existing treasury funds. Following financing completion in the first half of 2026, heavy earthworks will progress through 2027, with major equipment installation occurring year-end 2027. Commissioning is scheduled for late 2027, positioning the project for commercial production in 2028.The operation will produce approximately 110,000 gold equivalent ounces annually over an initial 10-year mine life, generating a clean copper-gold concentrate attractive to smelters. Once CK generates cash flow, management plans to self-fund exploration at the Keystone project in Nevada, located 11 miles from Barrick's Cortez complex in the same geological environment as world-class Carlin-type deposits. This strategy allows US Gold to pursue district-scale discovery potential without shareholder dilution while maintaining its near-term focus on construction execution.Learn more: https://www.cruxinvestor.com/companies/us-gold-corpSign up for Crux Investor: https://cruxinvestor.com

Interview with Segun Lawson, CEO of Thor Exploration Ltd.Our previous interview: https://www.cruxinvestor.com/posts/thor-exploration-lsethx-nigerian-pioneer-preps-18m-oz-senegal-gold-project-for-q4-pfs-7891Recording date: 3rd December 2025Thor Explorations presents a compelling investment opportunity combining immediate cash generation from low-cost, high-grade gold production with a self-funded development pipeline spanning near-term mine life extension, advanced-stage project construction, and genuine exploration discoveries across three West African jurisdictions.The company operates the 100%-owned Segilola gold mine in Nigeria, producing 90,000–95,000 ounces annually at all-in sustaining costs below $1,000 per ounce. At current gold prices above $4,000 per ounce, Thor captures operating margins exceeding $3,000 per ounce, creating substantial free cash flow that funds quarterly dividends whilst simultaneously financing aggressive exploration and development programmes without equity dilution. Q3 2025 operational results demonstrated this financial strength, with production of 22,600 ounces generating approximately $70 million in revenue. Management's strategic decision to withhold 3,000 ounces for Q4 sale above $4,000 per ounce positions the company for potentially record quarterly financial performance. Thor has completely repaid its project debt, achieving a debt-free balance sheet that provides exceptional strategic flexibility for capital allocation decisions. This financial position distinguishes Thor from capital-constrained peers and enables the company to advance multiple projects simultaneously across different development stages.The Segilola operation represents Thor's immediate value creation opportunity through mine life extension. The company has deployed five drilling rigs exploring beneath the existing pit, systematically intersecting high-grade underground mineralisation averaging 5.5 grams per tonne (g/t) compared to open pit grades of just over 4 g/t. With all infrastructure capital expenditure already sunk and operational expertise established, every additional ounce discovered creates what management characterizes as "super ounces" requiring minimal incremental capital to extract. Thor targets an updated resource estimate in Q1 2026 whilst also pursuing satellite deposits within a 50-kilometre radius of the processing plant. The company plans a pilot mining operation in 2026 at one southern target, supplementing an existing stockpile containing over 44,000 ounces representing more than $175 million in contained gold value.Thor's Douta project in Senegal represents material near-term production growth, with a preliminary feasibility study weeks from completion. The project carries estimated capital costs of $250–$300 million, of which Thor will self-fund $150 million from operational cash flows. The remaining $100 million will be sourced through debt financing with Africa Finance Corporation, which financed Segilola and maintains an equity stake. Management targets first gold production in Q1 2028 following an investment decision expected in H1 2026, with the project featuring a larger resource base than Segilola and approximately 10 years of mine life that would materially increase Thor's consolidated production profile.Early-stage exploration success in Côte d'Ivoire provides genuine blue-sky discovery potential. At Guitry, 4,600 metres of drilling has delineated six mineralised lenses with high-grade intersections including 10 metres at 10 g/t across just 15% of an 8-kilometre by 5-kilometre geochemical footprint. The Marahui project has identified 8 kilometres of drill targets with surface rock chips returning 10–17 g/t. Both projects advance toward maiden resource estimates in H1 2026 through continuous drilling programmes funded entirely from internal cash generation.Thor's investment proposition centres on operational execution, financial strength, and portfolio diversification. The company's ability to generate substantial cash flows whilst advancing multiple growth opportunities without external capital requirements creates a differentiated risk-reward profile. Multiple near-term catalysts through 2026 include the Douta feasibility study release, Segilola resource update, Côte d'Ivoire maiden resources, construction decision-making, and continued operational cash generation supported by elevated gold prices and proven low-cost production capabilities.View Thor Exploration's company profile: https://www.cruxinvestor.com/companies/thor-explorations-ltdSign up for Crux Investor: https://cruxinvestor.com

Interview with Chris Stevens, CEO, Coda MineralsOur previous interview: https://www.cruxinvestor.com/posts/coda-minerals-asxcod-95-recovery-rate-transforms-copper-project-into-tier-1-asset-7833Recording date: 2nd December 2025As global copper markets confront a widening supply deficit, Australian junior Coda Minerals is positioning its Elizabeth Creek Copper-Silver Project as a potential solution to what CEO Chris Stevens describes as an industry crisis. Located in South Australia adjacent to BHP's Carrapateena operation and near the world-class Olympic Dam mine, the project benefits from established infrastructure in a proven mining jurisdiction.The company's economics have transformed dramatically since initial studies. At conservative base case assumptions of $9,260 per tonne copper and $30 per ounce silver, Elizabeth Creek delivers an $855 million post-tax net present value with a 35% internal rate of return. However, with copper currently trading at $11,600 per tonne and silver reaching record levels near $59 per ounce, the post-tax NPV expands to $1.9 billion with a 60% IRR. This compares to Coda's current market capitalisation of approximately $40 million.A fundamental strategic shift underpins this enhanced profile. Coda abandoned its original copper-cobalt-silver flowsheet in favor of a simplified approach focusing exclusively on copper and silver through proven leaching technology. "If you can base the project fundamentally off two commodities with deep liquid markets, you're in a much better shape," Stevens explains. This eliminates the marketing and technical challenges associated with cobalt while employing methods used for roughly 20% of global copper production.With three drill rigs currently on site and a fully funded prefeasibility study targeting completion by end-2026, Coda is systematically de-risking a large, flat-lying orebody spanning 4.5 square kilometers. The recent $12.3 million capital raise was heavily oversubscribed, funding critical hydrogeology drilling, geotechnical work, and mine optimization studies.Stevens articulates the supply challenge starkly: "You need 30 Codas to replace an Escondida. Where are they coming from? Because there are not 30 Codas in Australia." With demand accelerating through electrification and data center expansion while legacy mines deplete, credibly-financed development projects in established jurisdictions occupy an increasingly strategic position in global copper supply chains.Learn more: https://www.cruxinvestor.com/companies/coda-minerals-ltdSign up for Crux Investor: https://cruxinvestor.com

Interview with Brian William Penny, CEO of Wallbridge MiningOur previous interview: https://www.cruxinvestor.com/posts/wallbridge-mining-wm-updated-resource-will-delight-market-2169Recording date: 27th November 2025Wallbridge Mining is navigating challenging junior gold markets through a strategic two-asset approach in Quebec's Abitibi region under CEO Brian Penny, a mining finance veteran with three decades at Kinross, Western Goldfields, and New Gold . The company controls over 600 square kilometers of prospective ground and has secured financial runway through Q1 2027 following a $15 million equity financing and $8 million from selling its Detour East property to Agnico Eagle .The company's strategy prioritizes near-term value creation at Martinière while maintaining long-term optionality at the advanced-stage Fenelon deposit . Martinière has emerged as the primary catalyst, with 2025 drilling extending mineralization from 400 meters to 800 meters depth across a 2-kilometer strike length . Recent intercepts included 50 grams per tonne over 1.7 meters, with the company targeting expansion from the current 750,000-ounce resource to 2 million ounces by 2027—a threshold management considers economically compelling for partnerships or development .Fenelon represents a longer-term opportunity, with a March 2025 preliminary economic assessment outlining a 3,000 ton-per-day underground operation using ramp access, dry-stack tailings, and paste backfill . However, the required $50-60 million prefeasibility study cost—representing half the company's $100 million market cap—makes immediate advancement impractical . Instead, Wallbridge conducts limited metallurgical testing and desktop optimization while remaining open to joint venture partnerships .The Detour East sale exemplified disciplined capital allocation, eliminating future dilution risk and funding expanded Martinière drilling without requiring larger equity financings . Despite gold trading above $4,000 per ounce—up 40% in 2025—junior explorers have not participated meaningfully in the rally, though Penny expects capital to eventually rotate from cash-generating producers to quality exploration stories .With $31 million cash and a clear strategic roadmap, Wallbridge positions itself for multiple outcomes: continued independent development, strategic partnerships, or acquisition by larger producers seeking quality ounces in mining-friendly jurisdictions as the exploration cycle recoversView Wallbridge Mining's company profile: https://www.cruxinvestor.com/companies/wallbridge-miningSign up for Crux Investor: https://cruxinvestor.com

Recording date: 1st December 2025Olive Resource Capital has delivered exceptional performance in 2025, with Executive Chairman Derek Mcpherson and President/CEO/CIO Sam Pelaez reporting record third-quarter results during their December 1st "Compass" podcast discussion. The fund achieved 61.8% gains in Q3 and 113.5% year-to-date returns, driven primarily by the rising gold market and strategic portfolio positioning.Despite generating $5.2 million in net income during Q3 against a market capitalization of just $7-8 million, management believes the share price trading around $0.07 significantly undervalues the fund's performance and asset base. This disconnect represents what Mcpherson characterizes as a meaningful opportunity for investors willing to recognize the fund's accomplishments.The discussion emphasized Olive's investment philosophy of identifying companies undergoing transformation before markets fully price in the changes. This approach has proven successful with holdings like AngloGold Ashanti, which has delivered over 200% returns year-to-date, alongside other transforming companies including K92 Mining, Orion Resources, and CanX Resources.A significant portion of the conversation analyzed Barrick Gold Corporation's announced plans to potentially spin out its North American assets, including Nevada Gold Mines, Pueblo Viejo, and the Fourmile project. The managers estimate this portfolio represents approximately 2 million ounces of annual production with an enterprise value of $40-50 billion.While Newmont emerges as the most logical acquirer given existing joint venture partnerships, the analysis revealed surprising complications. Newmont currently trades at lower valuation multiples than Barrick despite producing 50% more gold, creating challenges for structuring an accretive transaction. However, the deal could provide Newmont with 33-50% production growth impossible to achieve through any other single transaction.Management maintains conviction in continued commodity strength, supported by global liquidity expansion, central bank accommodation, and the recent end of Federal Reserve quantitative tightening. They see no material macro developments disrupting their bullish thesis on commodities entering 2026.Sign up for Crux Investor: https://cruxinvestor.com

Interview with Mark Petersen, Senior Geological Consultant of Wallbridge MiningOur previous interview: https://www.cruxinvestor.com/posts/wallbridge-mining-wm-updated-resource-will-delight-market-2169Recording date: 27th November 2025Wallbridge Mining is pursuing a calculated two-pronged approach across its Quebec gold assets, balancing near-term development at Fenelon with aggressive exploration at the Martiniere system. Mark Peterson, Senior Geological Consultant with over 40 years of experience, leads the geological strategy following his tenure at New Gold.At Fenelon, the company has fundamentally restructured its resource model, simplifying mineralized domains from over 100 discrete zones to 16 user-friendly envelopes. This redesign better aligns with the project's 40-meter drill spacing and creates practical targets for underground mining operations. The deposit features coarse visible gold throughout all rock types, supporting bench-scale metallurgical test results showing 30% initial gravity recovery and 96% total recovery—characteristics that could enable simpler processing and lower operating costs.The company's preliminary economic assessment incorporates existing underground infrastructure from a flooded historic pit, providing capital-efficient portal access. Despite higher upfront costs, Wallbridge selected dry-stack tailings to address both industry trends and site-specific challenges posed by Quebec's saturated glacial overburden terrain. Approximately one million ounces of resource remain excluded from the current mine plan, offering future expansion potential.At Martiniere, Peterson has pivoted to testing fundamental system scale rather than incremental resource growth. The exploration team employs aggressive 150-meter drill spacing across a two-kilometer strike length, rapidly covering prospective ground while accepting that subsequent infill will be required. First-principles structural remodeling identified 14 distinct fault structures along the Bug Lake deformation corridor, with recent drilling encountering mineralization including three meters at approximately seven grams per tonne half a kilometer from the Horsefly area.The critical next phase involves a 50,000-75,000 meter infill drilling program at Fenelon to convert inferred resources to indicated category, while a mineral inventory assessment at Martiniere will determine whether data supports the target of a two-million-ounce-plus system before committing to closer-spaced delineation drilling.View Wallbridge Mining's company profile: https://www.cruxinvestor.com/companies/wallbridge-miningSign up for Crux Investor: https://cruxinvestor.com

Interview with Ingo Hofmaier, CFO of Lifezone MetalsOur previous interview: https://www.cruxinvestor.com/posts/lifezone-metals-nyselzm-tanzania-nickel-developer-boosts-resource-by-20-amid-ev-metals-push-6482Recording date: 24th November 2025Lifezone Metals (NYSE:LZM) is positioning its Kabanga nickel project in Tanzania as a strategic Western-aligned alternative to Indonesian supply dominance, following the successful acquisition of BHP's 17% stake through a deferred payment structure. CFO Ingo Hofmaier detailed the company's progress toward a final investment decision (FID) targeted for late 2025, highlighting how decades of exploration work and recent infrastructure improvements have transformed the project's development prospects.The July 2025 feasibility study marked a watershed moment, providing the first public financial analysis of the deposit in its 50-year history. The numbers demonstrate compelling economics: a $1.6 billion after-tax NPV, 23.3% IRR, and 4.5-year payback period, with all-in sustaining costs of $3.36 per pound net of byproduct credits. The deposit contains approximately 50 million tons of reserves at 1.9-2% nickel grades, with valuable copper and cobalt byproducts that position Kabanga in the lower quartile of the global cost curve.Infrastructure improvements have fundamentally de-risked the project. Tanzania's new standard-gauge railway from Dar es Salaam to Lake Victoria addresses historical logistics concerns, while three new hydropower stations provide grid connection with 95-98% availability. These developments eliminate the power and transportation constraints that previously hindered development efforts.Lifezone secured a $60 million bridge facility with Taurus Mining in August 2025, funding execution readiness activities while the company advances project financing discussions. The high-grade nature of the deposit supports a targeted 60/40 debt-to-equity financing structure for the $950 million to $1.2 billion capital requirement. Advanced discussions with the U.S. Development Finance Corporation, European export credit agencies, and Mineral Security Partnership members reflect Western government recognition of Kabanga's strategic importance amid 70-80% Indonesian supply concentration and associated geopolitical concerns.The company's proprietary hydrometallurgical processing technology offers environmental advantages over conventional smelting, eliminating sulfur dioxide emissions while leveraging the ore's 30% sulfur content to avoid purchasing sulfuric acid—a significant cost advantage over Indonesian laterite operations.View Lifezone Metals' company profile: https://www.cruxinvestor.com/companies/lifezone-metalsSign up for Crux Investor: https://cruxinvestor.com

Interview with Glenn Jessome, President & CEO of Silver Tiger Metals Inc.Recording date: 28th November 2025Silver Tiger Metals presents investors with a rare opportunity to gain exposure to a near-term silver production scenario backed by exceptional project economics, secured financing, and an experienced development team. The company has achieved a significant milestone in obtaining Mexico's first new mining permit since 2020, enabling development of the El Tigre bulk tonnage stockwork deposit in Sonora state with an 18-24 month construction timeline beginning January 2026.The project's pre-feasibility study demonstrates compelling financial metrics: an after-tax NPV of $750 million, a 92% internal rate of return, one-year capital payback, and projected annual cash flow exceeding $100 million once in production. These economics reflect current precious metals prices of approximately $31-32 per ounce silver and $2,700 per ounce gold, with sensitivity analysis showing substantial upside to higher metal prices. At $35 silver and US$3,000 gold, annual after-tax cash flow increases to $60 million.Silver Tiger's capital position differentiates the company from typical development-stage mining projects. With US$60 million in treasury against US$186 million total capital requirements, the company has deliberately avoided the constraints associated with debt-heavy financing structures. Management has secured debt financing options with favourable terms to be finalised in 2025, whilst maintaining sufficient cash reserves to pursue parallel objectives including underground mine advancement, regional exploration programmes, and early-stage work at satellite deposits.The execution risk profile benefits significantly from the appointment of Francisco Albelais, a Mexican mining engineer with 25 years of experience building and operating bulk tonnage mines in Sonora. From 2010 to 2023, Francisco built two 55,000 tonnes-per-day mines for Argonaut Gold, managing teams of 400 personnel through complete project lifecycles. He brings established contractor relationships and access to a 200-person construction team based in Hermosillo, approximately two hours from site.Critical preparatory work already completed includes final engineering scheduled for completion on December 2025, construction of a 53-kilometre all-weather access road capable of transporting mill components, and securing long-term power supply arrangements with Mexico's federal electricity regulator. The company will operate on generator sets during the 18-month construction period, transitioning to grid power within two years.Beyond the initial bulk tonnage operation, Silver Tiger will release a preliminary economic assessment in January 2026 for an 800 tonnes-per-day underground mine targeting high-grade silver mineralization. The underground resource contains 113 million silver-equivalent ounces, representing a 31-year mine life before considering exploration upside. The company has already purchased and delivered the processing mill to site.The broader investment case encompasses significant exploration potential across a 30-kilometre mineralized trend. Current resources of approximately 213 million silver-equivalent ounces (100 million bulk tonnage, 113 million underground) exist within only 2-3 kilometres of explored territory, with independent consultants identifying near-term potential for an additional 73-100 million ounces through infill drilling. Historical mines to the north and south offer district-scale discovery opportunities.At a current market capitalization of approximately $350 million versus $750 million NPV for the initial operation alone, Silver Tiger offers investors substantial re-rating potential as construction progresses and production de-risking occurs.View Silver Tiger Metals' company profile: https://www.cruxinvestor.com/companies/silver-tiger-metalsSign up for Crux Investor: https://cruxinvestor.com

Interview with Kurt Budge, CEO of Leading Edge Materials Corp.Our previous interview: https://www.cruxinvestor.com/posts/leading-edge-materials-tsxvlem-strategic-rare-earths-projects-amid-eus-critical-minerals-push-6094Recording date: 27th November 2025Leading Edge Materials Corp. (TSXV:LEM) is advancing its Norra Kärr heavy rare earth project in Sweden towards a prefeasibility study expected to complete in the first half of 2026, positioning one of Europe's few advanced-stage heavy rare earth assets closer to production. The project's production profile of 248 tonnes of dysprosium and 38 tonnes of terbium oxide compares directly to Lynas Rare Earths' recent Malaysian plant expansion, establishing Norra Kärr at strategically significant scale within global heavy rare earth supply.The strategic rationale for European heavy rare earth production has intensified as Chinese export restrictions throughout 2025 created supply disruptions and price volatility that industry leaders characterise as a crisis. Dysprosium and terbium are critical components in permanent magnets used in electric vehicle motors, wind turbines, and defence systems, with European manufacturers remaining almost entirely dependent on Chinese production. CEO Kurt Budge directly questions whether Europe can rely on heavy rare earths from potentially misaligned jurisdictions for defence equipment and armaments production, highlighting supply security as a national security imperative beyond industrial applications.Leading Edge Materials benefits from 16 years of technical work on Norra Kärr, providing a substantial data foundation that reduces technical risk compared to earlier-stage exploration projects. The current programme focuses on two critical work streams: optimising mineral processing using 28,000 metres of drill core for test work, and upgrading the mineral resource from inferred classification. The company is conducting hydrometallurgy assessment on eudialyte mineral concentrates containing heavy rare earths whilst evaluating nepheline syenite by-products for ceramics, glass, and coatings markets, providing dual revenue stream potential.The company's economic modelling focuses on mine gate economics without requiring integrated downstream processing infrastructure, acknowledging capital constraints whilst establishing fundamental extraction economics. This approach allows Norra Kärr to demonstrate project viability as if concentrates were sold to third-party processors, reducing capital requirements whilst maintaining optionality for future vertical integration. Independent market assessments are updating rare earth pricing decks and industrial mineral market analysis to inform the prefeasibility study economic model.Near-term catalysts include a mining lease decision expected in the near future, representing a critical regulatory milestone that de-risks the project and positions it favourably for government support programmes. Partnership discussions with downstream permanent magnet manufacturers are underway, with the company aiming to establish collaborative frameworks concurrent with prefeasibility study completion. The development timeline positions the resource approximately three to four years from production, assuming successful completion of studies and securing of project finance.European policymakers are actively discussing price support mechanisms including floor prices and contracts for difference, modelled on US Department of Defense interventions for MP Materials. These mechanisms acknowledge that market manipulation by dominant suppliers creates investment risk requiring government intervention to ensure European heavy rare earth production. Sweden's positioning as a leading European mining nation provides jurisdictional advantages, with the current government articulating ambitions to lead European critical minerals production.The 2026 work programme represents a pivotal year for Leading Edge Materials, with prefeasibility study completion and mining lease approval expected to catalyse government funding or strategic investment from downstream partners seeking supply security. The company operates across multiple exchanges including Toronto, Stockholm, New York, and Frankfurt, facilitating access to European and North American capital markets focused on critical minerals supply security.View Leading Edge Materials' company profile: https://www.cruxinvestor.com/companies/leading-edge-materialsSign up for Crux Investor: https://cruxinvestor.com

Interview with Colin Smith, Director & CEO of TooGood GoldRecording date: 27th November 2025TooGood Gold Corporation is developing an early-stage, district-scale high-grade gold project in northern Newfoundland, positioning itself within one of Canada's most active exploration regions. The company acquired the property through a favorable earn-in agreement with Prospector Metals, which made the initial discovery before redirecting focus to its Yukon assets. Under CEO Colin Smith, a geologist with 20 years of experience including roles at SSR Mining and Discovery Group, TooGood has expanded the land package from 110 km² to over 164 km², systematically consolidating ground along regional structural trends.The flagship Quinlan discovery demonstrates exceptional potential, with Prospector's initial 2022 drilling intersecting visible gold in 15 of the first 19 holes. The standout intersection delivered 24 meters at approximately 4 g/t gold, with Smith characterizing these as "70 to 80 plus gram-meter holes in the first swing of the bat, which in my experience is pretty rare." The geological model features a felsic intrusive dyke within black shale that extends to surface, providing clear targeting parameters. Smith notes the system "lines up like poker straight like a book" in 3D modeling, though the team seeks structural complexities where the dyke might expand to "20, 30, 40 meters of thickness."TooGood completed a 33-hole, 2,000-meter drill program in summer 2025, with results pending for 19 holes. The company has also consolidated the Golden Nugget property, featuring an 8.5-kilometer coastal trend averaging over 1 g/t gold in rock samples that remains largely untested. With over $4 million in treasury and five additional drill-ready targets identified, TooGood maintains full funding for its 2026 exploration program. The project sits on the same structural corridor as Equinox Gold's producing Valentine Lake mine and near New Found Gold's Queensway deposit, providing validated geological analogues within a mining-friendly jurisdiction offering year-round access and established infrastructure.Sign up for Crux Investor: https://cruxinvestor.com

Interview with Hugh Agro, President & CEO of Revival Gold Inc.Our previous interview: https://www.cruxinvestor.com/posts/revival-gold-tsxvrvg-dual-asset-strategy-offers-near-term-production-long-term-upside-7957Recording date: 27th November 2025Revival Gold presents investors with leveraged exposure to gold price appreciation through a 6 million ounce dual-project portfolio in the western United States trading at substantial discounts to both net asset value and producing peer companies. With the Mercur project in Utah advancing towards pre-feasibility study in 2026 and Beartrack-Arnett in Idaho at pre-feasibility stage, the company offers clear pathways to production on compressed timelines of two to three and a half years respectively.The investment thesis centres on valuation arbitrage within the gold equity spectrum. Revival Gold trades at 0.1-0.2 times net asset value whilst senior producers and royalty companies command 1.0-2.0 times NAV multiples, creating what CEO Hugh Agro characterises as "a real arbitrage there for investors today." The company projects potential revaluation to 0.6-1.0 times NAV as projects advance through permitting and feasibility studies, implying five to six times appreciation over the next two to three years. Equity analysts validate this framework with price targets ranging from two to four times current trading levels.Project economics demonstrate robust margins even within conservative gold price scenarios. Mercur's preliminary economic assessment envisions 100,000 ounces per year production at $1,400 all-in sustaining costs requiring only $210 million capital expenditure, generating net present value of approximately $1.2 billion at current $4,000 gold prices with an 18-month payback period. Beartrack-Arnett complements this with 65,000 ounces per year production requiring merely $110 million capital expenditure leveraging existing ADR processing infrastructure.The modest capital requirements reflect substantial brownfield advantages including existing power, roads, processing facilities, and water infrastructure available for redeployment. Both projects represent former producers with established metallurgical characteristics, community relationships, and operational precedent reducing technical and permitting risk. Mercur benefits additionally from private land ownership enabling streamlined state-level permitting rather than complex federal processes, whilst its dry environment eliminates water management complications.Capital efficiency considerations prove particularly compelling in current market conditions. The company maintains approximately $23 million cash backed by strategic investors Dundee Corporation and EMR Capital, with management emphasising disciplined capital deployment to minimise shareholder dilution whilst advancing projects towards production. As Agro notes, "Every dollar we put out the door right now is costing us roughly 0.2 times underlying NAV," incentivising value maximisation before accessing additional capital.The current valuation incorporates only 2.5 million of the company's 6 million ounce resource base, excluding value attribution for 3.5 million ounces not yet in engineering studies plus underground expansion potential and district-scale exploration upside. This optionality provides organic growth opportunities fundable through initial production cash flows without requiring dilutive external capital.Near-term catalysts include Q1 2026 column leach metallurgical results, ongoing drill result releases from over 70 unreported holes at Mercur, formal permitting launch in early 2026, and pre-feasibility study advancement. Recent drilling has delivered average grades 22% above resource estimates whilst metallurgical recoveries exceed PEA assumptions by 10%, providing progressive technical validation.For investors seeking leveraged gold exposure, Revival Gold offers compelling risk-reward characteristics: substantial valuation discounts to peers, clear production pathways on compressed timelines, robust project economics with strong margins, capital efficiency enabled by brownfield advantages, and significant optionality beyond base case scenarios. The combination positions the company to capture both near-term revaluation as projects advance and longer-term value creation through low-capital production and organic resource expansion.View Revival Gold's company profile: https://www.cruxinvestor.com/companies/revival-gold-incSign up for Crux Investor: https://cruxinvestor.com

Interview with Sam Hartmann, VP Exploration, and Dev Randhawa, Chairman & CEO, of F3 Uranium Corp.Our previous interview: https://www.cruxinvestor.com/posts/f3-uranium-tsxvfuu-billion-dollar-discovery-team-strikes-again-in-worlds-best-uranium-district-7874Recording date: 27th November 2025F3 Uranium Corp. (TSXV: FUU) has completed a $20 million financing to fund a year-long drilling campaign at its Tetra Zone discovery in Saskatchewan's Athabasca Basin. The financing, which included $15 million in flow-through funds, brings the company's treasury to $30 million and eliminates near-term dilution pressure as the exploration program advances.CEO Dev Randhawa explained the strategic shift toward Tetra Zone, which has emerged as the company's primary focus after the JR Zone failed to grow as anticipated. Despite JR's promising initial indicators, including peak grades of 4.5 meters at 50% uranium along a large conductor, the system has not delivered the expansion investors expected. Tetra Zone, by contrast, shows significantly greater potential with 60 meters of mineralization-three times what JR produced-sits just 12 kilometers from the Arrow and Triple R deposits along an apparent productive geological trend.Recent drilling results support management's confidence in the discovery. The most recent hole intersected mineralization in a 15-meter step-out, with scintillometer readings exceeding 10,000 counts per second across 30+ meters. Chief Geologist Sam Hartmann estimates a 2.3-meter high-grade interval "will be well over a percent" when laboratory assays are returned. This successful step-out confirms both continuity and the geological model's predictive capability.The technical understanding of Tetra has evolved considerably from initial interpretations. Unlike typical Athabasca deposits controlled by graphitic conductors, Tetra appears to be shear-zone-controlled, with mineralization in micaceous structures that generate weaker geophysical signatures. This realization explains why early drilling repeatedly intersected mineralization at unexpected depths and has enabled more confident targeting going forward.F3's systematic approach involves methodical 25-50-100 meter step-outs to balance resource definition with expansion testing. With an experienced discovery team that previously found Waterbury and contributed to the Triple R discovery (sold for approximately $1 billion), the company is positioned to methodically test whether Tetra can join the ranks of significant Athabasca Basin uranium deposits. Regular drilling results are expected throughout 2026 as the delineation program progresses.View F3 Uranium's company profile: https://www.cruxinvestor.com/companies/f3-uranium-corpSign up for Crux Investor: https://cruxinvestor.com

Segment 6 — Nuclear Assistance and Cyber Theft: North Korea's Contributions to Iran's Weapons Programs — Bruce Bechtol — Bechtol details North Korea's substantial nuclear assistance to Iran, including uranium warhead designs, raw uranium supplies, and construction of underground nuclear facilities. North Korea operates as the number one cyber theft entity globally, systematically stealing cryptocurrency and intellectual property to finance its military-industrial complex and weapons development programs. 1953

The legendary Johnny Vedmore joins me to discuss his latest (and not so latest) articles... ⁠https://newspaste.com/2025/11/14/david-sullivan-the-profile-of-a-serial-offender/⁠ ⁠https://newspaste.com/2025/08/02/musk-and-epstein-spacex-offenders/⁠ ⁠https://newspaste.com/2020/03/15/nicole-junkermann-3-0-model-or-mossad/⁠ ⁠https://newspaste.com/2025/10/30/schwab-and-thiel-nuclear-apartheid/⁠ Find Johnny Vedmore: ⁠⁠https://johnnyvedmore.com⁠⁠ ⁠⁠https://unlimitedhangout.com/author/johnnyvedmoregmail-com/⁠ Exclusive Content and Ways to Support: Support me on Substack for ad-free content, bonus material, personal chatting and more! https://substack.com/@monicaperezshow Become a PREMIUM SUBSCRIBER on Apple Podcasts for AD FREE episodes and exclusive content! True Hemp Science: https://truehempscience.com/ PROMO CODE: MONICA Find, Follow, Subscribe & Rate on your favorite podcasting platform AND for video and social & more... Website: ⁠https://monicaperezshow.com/⁠ Substack: ⁠https://substack.com/@monicaperezshow⁠ Rumble: ⁠https://rumble.com/user/monicaperezshow⁠ Youtube: ⁠https://www.youtube.com/c/MonicaPerez⁠ Twitter/X: @monicaperezshow Instagram: @monicaperezshow Learn more about your ad choices. Visit megaphone.fm/adchoices

The legendary Johnny Vedmore joins me to discuss his latest (and not so latest) articles... https://newspaste.com/2025/11/14/david-sullivan-the-profile-of-a-serial-offender/ https://newspaste.com/2025/08/02/musk-and-epstein-spacex-offenders/ https://newspaste.com/2020/03/15/nicole-junkermann-3-0-model-or-mossad/ https://newspaste.com/2025/10/30/schwab-and-thiel-nuclear-apartheid/ Find Johnny Vedmore: ⁠https://johnnyvedmore.com⁠ ⁠https://unlimitedhangout.com/author/johnnyvedmoregmail-com/ Exclusive Content and Ways to Support: Support me on Substack for ad-free content, bonus material, personal chatting and more! https://substack.com/@monicaperezshow Become a PREMIUM SUBSCRIBER on Apple Podcasts for AD FREE episodes and exclusive content! True Hemp Science: https://truehempscience.com/ PROMO CODE: MONICA Find, Follow, Subscribe & Rate on your favorite podcasting platform AND for video and social & more... Website: https://monicaperezshow.com/ Substack: https://substack.com/@monicaperezshow Rumble: https://rumble.com/user/monicaperezshow Youtube: https://www.youtube.com/c/MonicaPerez Twitter/X: @monicaperezshow Instagram: @monicaperezshow Learn more about your ad choices. Visit megaphone.fm/adchoices

Stijn Schmitz welcomes Justin Huhn to the show. Justin Huhn is Founder & Publisher of Uranium Insider Pro. In this comprehensive discussion, Huhn provides an in-depth analysis of the current uranium market, highlighting its unique supply and demand dynamics. The uranium market is currently experiencing a significant bull run, with demand projections showing substantial growth. The World Nuclear Association’s 2025 reference scenario indicates uranium demand could be 50% higher by 2040 compared to 2019. Key demand drivers include electricity growth, clean energy mandates, and energy security concerns, with nuclear energy capacity projected to grow at approximately 4% annually. On the supply side, the market faces critical challenges. Major producers like Kazatomprom are struggling to maintain production levels, with most existing mines experiencing declining output. Huhn emphasizes that the industry needs substantially higher prices – potentially over $100 per pound in the term market – to incentivize new project development. The market’s structure is characterized by limited supply and rising prices, with trading volumes declining. Utilities remain cautious, often underestimating future price trajectories. Potential secondary demand drivers include financialization, strategic sovereign stockpiling, and utility inventory restocking. Huhn is bullish on uranium’s long-term prospects, suggesting the market is still in early to mid-stages of its bull cycle. He recommends investors diversify their approach, potentially holding physical uranium through vehicles like Yellow Cake or Sprott Physical Uranium Trust, and maintaining a diversified portfolio of mining stocks. Regarding potential disruptors, Huhn is optimistic about thorium’s long-term potential but doesn’t see it impacting the current uranium cycle. He’s also measured about small modular reactors, believing the focus should remain on building large, proven nuclear reactor designs. For investors interested in the sector, Huhn suggests carefully selecting companies with responsible management, strong capital positioning, and potential for future cash flow generation. Timestamps: 00:00:00 – Introduction 00:01:00 – Uranium Bull Cycle Position 00:02:15 – Nuclear Demand Growth Drivers 00:04:21 – Supply Demand Modeling 00:06:23 – Market Uniqueness Factors 00:07:27 – Bull Market Innings Outlook 00:10:18 – Key Uranium Producers 00:17:48 – Supply Bottlenecks Challenges 00:22:36 – Incentive Price Discussion 00:25:29 – Spot vs Term Market 00:28:48 – Future Demand Projections 00:36:35 – Geopolitical Market Bifurcation 00:39:28 – Thorium and SMR Disruptors 00:45:19 – Portfolio Construction Advice 00:51:00 – Concluding Thoughts Guest Links: Website: https://www.uraniuminsider.com Newsletter: https://www.uraniuminsider.com/newsletter X: https://x.com/UraniumInsider Justin is the Founder and Publisher of the Uranium Insider Pro Newsletter. Through the combination of rigorous fundamental analysis and Justin’s thorough understanding of technical analysis, determinations are made for select companies to be included on Uranium Insider Pro’s “Focus List,” as well as the most opportune times for entry or exit. Justin is frequently asked to offer his commentary on various media forums, including Crux Investor, Smith Weekly, Palisades Gold Radio, Mining Stock Education, and Mining Stock Daily. He also regularly participates in the post-earnings commentary that is broadcast immediately after industry majors release quarterly earnings. Justin is devoted to bringing value to those that are taking their first look at the uranium sector. Until July 2020, he distributed a complimentary newsletter as an educational tool to those investors seeking to familiarize themselves with the complexities and opportunities offered by the uranium sector and the uranium shares. Regrettably, the Uranium Insider Pro subscription letter’s subscriber growth and breadth no longer allow him to provide this tool. The success of Uranium Insider has been gratifying, and the emerging bull market in uranium continues to offer an unusually attractive risk:reward proposition for fellow contrarian investors.